Discover's next move?

[FinStar]

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@ChargedUp wrote:

It's funny this topic should come up. I've always wondered what Discover plans to do with the Diners Club name. They could blow the dust off and create competition where Amex is literally exclusive. The charge card market. Having JCB, Union Pay, Elo, etc. as international partners could make things interesting as well for worldwide acceptance.

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The Diners Club "name" is really just the global payment processing network after they merged theirs with the DC network.  AFAIK, they're not planning on issuing any Diners Club co-branded products since Diners Club International licensees are the primary issuers for those.

[Anonymous]

I don't see a problem with Discover or any need to make some big splash. They offer a great product and have great customer service. 

Like Discover, I've come to like simplicity. I use 3 cards now (and Discover is one of them), and have very little interest chasing the next great product. Give me a good card with the right rewards, and back it up with the right customer service/good website/ease of redemption/etc. I'll use it. 

And this looks to be a fantastic year for Discover's rotating categories.

One thing I didn't see mentioned in the OP is Discover's secured card. That is such a wonderful product, and I'd have to think vital to their strategy. Not to mention, it's kind of innovative. A secured card with fantastic rewards. They get people in with that, build with it, and I'm sure develop many, many long-term customers (like me).

If any big CC company needs to figure out a next move, it seems like Capital One. I'm still not sure where they fit in at all.

[Anonymous]

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@Anonymous wrote:

I don't see a problem with Discover or any need to make some big splash. They offer a great product and have great customer service. 

Like Discover, I've come to like simplicity. I use 3 cards now (and Discover is one of them), and have very little interest chasing the next great product. Give me a good card with the right rewards, and back it up with the right customer service/good website/ease of redemption/etc. I'll use it. 

And this looks to be a fantastic year for Discover's rotating categories.

One thing I didn't see mentioned in the OP is Discover's secured card. That is such a wonderful product, and I'd have to think vital to their strategy. Not to mention, it's kind of innovative. A secured card with fantastic rewards. They get people in with that, build with it, and I'm sure develop many, many long-term customers (like me).

If any big CC company needs to figure out a next move, it seems like Capital One. I'm still not sure where they fit in at all.

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I started with a secured card and this is a shining star in the market... no-AF, rewards, and a great shot at graduation makes it about the best. Since it's my oldest TL it's not going anywhere, but I'm also only using it for the 5%'ers and PIF, so they're not making any money off of me.

[Dalmus]

Capital One actually had a pretty decent card with the Savor. It's targeted specifically for foodies whether you eat out or cook in.

Maybe they could add another 3-2-1 card for do it yourselfers... The Cap 1 DIY card.. categories include lumber yards, hardware stores (thinking Home Depot, Menard's, Ace, Tru Value type places) and auto parts purchases. Maybe add an annual fee and an annual medical services credit.

[Anonymous]

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@K-in-Boston wrote:

I agree that after the first year Discover is really only good for 5% categories and balance transfers.  Other than that, a simple easy-to-understand rewards structure and great customer service are the only things they have going for them long-term.

As already stated, having category selections (like the US Bank Cash+) would be a nice next move.  Otherwise, I don't see Discover getting into the premium market and there aren't any viable travel partners left for them to co-brand (I made a joke recently in a "Discover rumored to be getting into the premium market" thread that perhaps they could partner with Motel 6) so they should likely just stick to doing what they do.

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I mostly agree with you. However, I do think their customer service goes a long, long way with myself and many others. 

I opened a Discover checking account because of their 24/7 AMERICAN based customer service reps who are nice on the phone, which definitely helps for someone who works nights and gets frustrated at not having around the clock help with something (or with a question). I don't want to stay up until 9 am to speak to some foreign rep who doesn't know what they're doing. 

[Anonymous]

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@MrDisco99 wrote:

Can we not talk about "metal" cards as if that is some sort of premium feature?  What actual rewards/credit attributes makes this mythical product special and worth pursuing?

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I prefer metal cards over plastic. They are more durable and I like he heaviness feeling, plus they seem even better now that issuers are giving out flimsier plastic cards than they used to with unembossed numbers. 

[Anonymous]

Discover should offer 3% in one spending category consistently, perhaps discount stores like Target, Walmart. They also could offer a 10% cash back bonus annualy for users who transfer their cashback to a Discover savings account and keep it there for a year. Additionally, they could enhance the functionality of their Spending Analyzer, allowing users to create spending categories, move charges across categories and import spending data from other accounts, etc. These changes would be in line with their brand identity, which to me is one that emphasizes thrift and savings. Discover: the spending wisely and saving card.

[UpperNwGuy]

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@Anonymous wrote:

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@MrDisco99 wrote:

Can we not talk about "metal" cards as if that is some sort of premium feature?  What actual rewards/credit attributes makes this mythical product special and worth pursuing?

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I prefer metal cards over plastic. They are more durable and I like he heaviness feeling, plus they seem even better now that issuers are giving out flimsier plastic cards than they used to with unembossed numbers. 

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I hate metal cards, and I wish my Chase Sapphire Reserve were plastic instead of metal.  The metal cards often don't work in magnetic strip swipe machines such as those in the DC taxi cabs.  By the way, I also hate swipe machines.

[Anonymous]

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@UpperNwGuy wrote:

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@Anonymous wrote:

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@MrDisco99 wrote:

Can we not talk about "metal" cards as if that is some sort of premium feature?  What actual rewards/credit attributes makes this mythical product special and worth pursuing?

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I prefer metal cards over plastic. They are more durable and I like he heaviness feeling, plus they seem even better now that issuers are giving out flimsier plastic cards than they used to with unembossed numbers. 

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I hate metal cards, and I wish my Chase Sapphire Reserve were plastic instead of metal.  The metal cards often don't work in magnetic strip swipe machines such as those in the DC taxi cabs.  By the way, I also hate swipe machines.

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Not really sure what you mean. I've never had a problem swiping a metal card. Even then, swiping shouldn't be common anymore anyways. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I don't see a problem with Discover or any need to make some big splash. They offer a great product and have great customer service. 

Like Discover, I've come to like simplicity. I use 3 cards now (and Discover is one of them), and have very little interest chasing the next great product. Give me a good card with the right rewards, and back it up with the right customer service/good website/ease of redemption/etc. I'll use it. 

And this looks to be a fantastic year for Discover's rotating categories.

One thing I didn't see mentioned in the OP is Discover's secured card. That is such a wonderful product, and I'd have to think vital to their strategy. Not to mention, it's kind of innovative. A secured card with fantastic rewards. They get people in with that, build with it, and I'm sure develop many, many long-term customers (like me).

If any big CC company needs to figure out a next move, it seems like Capital One. I'm still not sure where they fit in at all.

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I started with a secured card and this is a shining star in the market... no-AF, rewards, and a great shot at graduation makes it about the best. Since it's my oldest TL it's not going anywhere, but I'm also only using it for the 5%'ers and PIF, so they're not making any money off of me.

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Yeah, they aren't making any money off me either (mostly the same with Freedom). Though, I'd suspect people that actually pay attention and try maximize their rewards are a very, very small minority. I work in a restaurant, and see the cards people are using. A lot of people use Discover and Freedom, and every time I mention something about the current 5% quarter, it's pretty obvious that they didn't know. My guess is that most don't even opt in (of the folks I talk to).  Same deal at Sam's. I'm there a lot and notice so many people using the Sam's Mastercard, and I always wonder why they are using it for Sam's purchases.

Seems most folks just get a few cards they like and are happy with whatever cash back they get.