Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards.
| FactSnippet No. 1,584,545 |
30 Facts About Discover Financial
1.
2.
Discover Financial Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders.
| FactSnippet No. 1,584,546 |
4.
However, on December 19,2006, during a fourth quarter earnings report, Morgan Stanley CEO John J Mack announced Discover would be spun off as a standalone publicly traded company by the end of August 2007, stating that both companies will be better positioned for growth and success as separate entities.
| FactSnippet No. 1,584,548 |
5.
Ahead of schedule on June 30,2007, Discover Financial was spun off as an independent, publicly traded company.
| FactSnippet No. 1,584,549 |
6.
In 2005, Discover Financial Services acquired Pulse, an interbank electronic funds transfer payments network.
| FactSnippet No. 1,584,550 |
7.
Discover Financial stated that the Diners Club network, which is a major network outside the United States, will be merged with the Discover Financial Network, a major network in the United States.
| FactSnippet No. 1,584,551 |
8.
On June 12,2012, Discover Financial began originating mortgages with its launch of Discover Financial Home Loans, offering prime variable- and fixed-rate conventional and FHA home mortgage loans.
| FactSnippet No. 1,584,552 |
9.
On September 1,2002, Discover announced that Citibank would accept the Discover® Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.
| FactSnippet No. 1,584,553 |
10.
The Miles Card by Discover Financial card allowed redemption with as little as 2,500 miles for non-flight reward options.
| FactSnippet No. 1,584,554 |
11.
Discover Financial introduced the option for paperless statements to minimize the impact on the environment and reduce clutter for customers.
| FactSnippet No. 1,584,555 |
12.
Shortly after the Supreme Court ruling, Discover struck its first deal to have its cards issued by another financial institution, GE Consumer Finance, which began to issue credit cards for retailer Walmart and its wholesale warehouse stores, Sam's Club.
| FactSnippet No. 1,584,556 |
13.
HSBC has issued Discover Financial-branded credit cards processed through the Discover Financial Network since its acquisition of card issuer Metris in late 2005.
| FactSnippet No. 1,584,557 |
14.
In 2006, Discover Financial Network united with Visa, MasterCard, American Express, and JCB to form the Payment Card Industry Security Standards Council, which helps to manage the ongoing payment account security throughout the transaction process.
| FactSnippet No. 1,584,558 |
15.
On March 13,2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row.
| FactSnippet No. 1,584,559 |
16.
Discover Financial announced in 2010 that it had received approval to pay back the funds.
| FactSnippet No. 1,584,560 |
17.
In 2009, Discover Financial Services introduced the Spend Analyzer tool, an innovative easy-to-use online tool that provides cardmembers with a visual representation of their Discover card purchases for the past 24 months.
| FactSnippet No. 1,584,561 |
18.
In September 2012, Discover Financial Services was ordered to pay over $200 million in fines and customer reimbursements to settle accusations by US federal regulators that it had engaged in deceptive telemarketing tactics.
| FactSnippet No. 1,584,562 |
19.
In 2012, Discover Financial Services announced a five year, $10 million commitment called Pathway to Financial Success to help bring financial education curriculum to public high schools across the US.
| FactSnippet No. 1,584,563 |
20.
Discover Financial introduced Discover Financial Home Equity Loans, offering homeowners the opportunity to simplify their finances inclusive of supporting home improvement projects, paying for major expenses, or consolidating debt into a single, fixed monthly payment.
| FactSnippet No. 1,584,564 |
21.
Discover Financial became the first major credit card issuer to provide free access to FICO Credit Scores based on TransUnion data directly to its cardmembers on their monthly statements.
| FactSnippet No. 1,584,565 |
22.
In 2015, Discover Financial Services launched Discover it Miles, which rewards 1.
| FactSnippet No. 1,584,566 |
23.
In 2016, Discover Financial Services launched Discover it Secured for consumers looking to build their credit.
| FactSnippet No. 1,584,567 |
24.
In 2017, Discover Financial Services launched a free service called Discover Identity Alerts to notify cardmembers if their social security numbers are found on risky websites and if any new accounts are opened on their Experian credit report.
| FactSnippet No. 1,584,568 |
25.
From 1998 to 2007, Discover Financial Card owned a billboard at One Times Square, just above the flagpole where the Times Square Ball is placed, until Toshiba bought the space.
| FactSnippet No. 1,584,569 |
26.
Since 2008, Discover Financial has been the official credit-card partner of the National Hockey League.
| FactSnippet No. 1,584,570 |
27.
In 2011 and 2012, Discover Financial participated and won the Grand Marshal award for excellence in creative concept and design in the Tournament of Roses Parade in Pasadena.
| FactSnippet No. 1,584,571 |
28.
From 2011 to 2013, Discover Financial was the sponsor of the college football Orange Bowl.
| FactSnippet No. 1,584,572 |
30.
When measured by card balances, Discover Financial is the sixth largest credit card issuer in the US behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and US Bank.
| FactSnippet No. 1,584,574 |