Discover Card is a brand of credit card provider that operates in North America, mainly for US citizens. Discover was started in 1985 as a loyalty credit card for departmental stores’ giant, Sears, Roebuck & Company. From the very beginning, the company offered innovative offers and services to its users. Discover Card users never had to pay annual maintenance charges but they always enjoyed relatively higher credit limits.
Discover Cards allows new users who don’t have a prior credit history. It is a good way to build your credit profile from scratch. Discover Card currently has around 45 million users, making it the fourth largest credit card issuer in the United States. It is owned and operated by Discover Financial Services, Inc., an American company, based in Riverwoods, Illinois. It is listed on the NYSE stock exchange, as DFS, and is a component of S&P 500. It is universally accepted in all billing machines, ATM’s, online card payments gateways, etc. based in the United States.
The evolution of Discover Card saw many eras. It has brought watershed ideas into the financial market, providing mass-credit for the time during the 1960-1970’s. It was the first card to have no annual maintenance charge, which was very unusual back then. At the zenith of its popularity, Sears was the largest retail outlet in the United States, and Discover Cards enjoy a monopoly over the credit-lending business. Discover Cards was backed by Greenwood Trust Company, which acted as the issuing bank. By the 1980’s Sears was facing tough competition from Walmart, Visa, MasterCard and American Express.
Eventually, in 1997 Sears sold off its credit-banking wing to Morgan Stanley. After 10 years of association, Discover Card became so profitable that it bought itself out of Morgan Stanley and became an independent entity in 2007, under its parent company called Discover Financial Services, Inc. It has since been listed on the NYSE and has been given a weightage in the S&P 500 Index. It has a market capitalization of $25.3 Billion, as of May 2017.
New Online Casinos Accepting Discover
Using Discover at New Casinos
Discover Card can be used as a simple credit card to make payments at online casinos. First, make sure that you have enough funds in your Discover Card to make the deposit. Discover Card needs to be linked with a bank through Online Banking, and you have to maintain 1:1, balance: credit line ratio, with a minimum balance of £/€/$ 200. This means if you maintain a refundable security deposit of £/€/$ 500 with Discover Card, you will get a credit line of £/€/$ 500.
To make payments in your new online casino via Discover Card, head to the “Cashier” section of the online casino and enter the deposit details like the deposit amount, promo code, etc. You will now be asked to choose the payment gateway, where you have to select Discover Card as your choice. You will find the Discover Card option under credit/debit card payments method.
Once you confirm the deposit request, you will be taken to a secure Discover Card payment gateway, where you need to log in with your username and password. You will get an automatically processed bill from your online casino, and you simply need to confirm it. Once you confirm the payment, you will be taken back to the deposit page of the casino, where you will get a payment update.
The main advantage of Discover Card is if flexible and liberal credit rating policy, which not only gives users more time and credit but also provides lucrative cash back to loyal users. End-users of Discover Cards can now enjoy 1-5% cashback on purchases made through Discover credit cards. The percent of cash back will depend on the frequency of use. Loyal users can also earn special flight miles and sometimes offers credit at subsidized interest rates.
Discover Card also accepts people new to the credit market and you can look forward to building a healthy credit score with Discover Card. The other main advantage of Discover Card is the absence of annual maintenance charges, which saves a lot of money for its end users. Discover Card also charges relatively low commissions for retail merchants and online payment gateways, which means you can expect no additional charges/minimum charges for making payments through Discover Card.
The key disadvantage of Discover Card is in its geographical spread. Unlike Visa and MasterCard, Discover Card is limited for US based users only. Even though the card can be used in almost all international locations, it is only issued to American citizens. American users can take full advantage of Discover Card as it is universally accepted and offers very competitive services.
+Used for 45+ million people across the US
+Liberal terms and conditions
+ Loyalty Programs
– Limited to US players