Why don't other banks issue Discover anymore?

Anonymous · ‎02-24-2017

Most banks issue Visa and/or MC. Some (FNBO, USAA, etc.) issue Amex. I know there used to be a Walmart Disco issued by GE. But why doesn't anybody issue Discos anymore besides Disco?

Anonymous · ‎02-24-2017

Comenity Capital/ True Value issue a Discover card... It's got pretty good rewards if that is your preferred hardware store 3% on True Value purchases 2% on gas/grocery 1% on everything else. They also offer deferred financing on $299+

That is the only cobranded Disco I know of.

SunriseEarth · ‎02-24-2017

@Anonymous wrote:
Most banks issue Visa and/or MC. Some (FNBO, USAA, etc.) issue Amex. I know there used to be a Walmart Disco issued by GE. But why doesn't anybody issue Discos anymore besides Disco?

AFAIK, True Value Discover is the only co-branded card left using the Discover payment network. I'm guessing Discover isn't offering as good of a deal as MC is, since they seem to be growing in the cobrand market.

longtimelurker · ‎02-24-2017

@SunriseEarth wrote:
@Anonymous wrote:
Most banks issue Visa and/or MC. Some (FNBO, USAA, etc.) issue Amex. I know there used to be a Walmart Disco issued by GE. But why doesn't anybody issue Discos anymore besides Disco?
AFAIK, True Value Discover is the only co-branded card left using the Discover payment network. I'm guessing Discover isn't offering as good of a deal as MC is, since they seem to be growing in the cobrand market.

And as it is the case that Discover is still slightly less accepted here than V/MC, the deal probably has to be a little better

BirchBarlow · ‎02-24-2017

Didn't Discover used to be owned by Sears? IIRC, Sears sold Discover to a bank so Discover went from being a payment network to being a bank, so there was less need for them to make agreements with other banks.

Credit-hoarder · ‎02-24-2017

FNBO has a co-branded Discover card also

BUSINESS

Rewards Pts.-Miles: UR-MR-TYP-Venture

Anonymous · ‎02-25-2017

@Credit-hoarder wrote:
FNBO has a co-branded Discover card also

If my memory serves me right, FNBO converted the FNBO Discover Cards to FNBO American Express during 2016.

gdale6 · ‎02-25-2017

@Anonymous wrote:
@Credit-hoarder wrote:
FNBO has a co-branded Discover card also
If my memory serves me right, FNBO converted the FNBO Discover Cards to FNBO American Express during 2016.

Yup, its no more it was officially completed Jan 2017. I ended up with 2 AMEX with FNBO and I torched one of them.

Anonymous · ‎02-27-2017

@gdale6 wrote:
@Anonymous wrote:
@Credit-hoarder wrote:
FNBO has a co-branded Discover card also
If my memory serves me right, FNBO converted the FNBO Discover Cards to FNBO American Express during 2016.
Yup, its no more it was officially completed Jan 2017. I ended up with 2 AMEX with FNBO and I torched one of them.

That wasn't too long a run then https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2011/First-National-Bank-Of-Omaha-Launches-Discover-Card/default.aspx

Anonymous · ‎02-27-2017

@BirchBarlow wrote:
Didn't Discover used to be owned by Sears? IIRC, Sears sold Discover to a bank so Discover went from being a payment network to being a bank, so there was less need for them to make agreements with other banks.

Sears purchased Greenwood Trust Company, a bank in Delaware, primarily so that they could issue the new Discover Card (strange since Sears had their own bank, Sears National Bank that issued the store card and later the MasterCard). Greenwood Trust Company was aligned with Dean Witter (also owned by Sears), Dean Witter merged with Morgan Stanley which renamed Greenwood Trust Company to Discover Bank. Discover Bank was then spun off on its own to become an independant company.

I have my dad's old 1986 Discover Card. It has an embossed Sears Tower on it and in the background it repeats "Sears Financial Network." One of the reasons I chose the Dawn of Discover design for my Discover More card; it looks very similar to the original 1986 Discover Card. That man never used that card. I remember growing up in the 80s and hearing my poor mom asking cashiers, "do you take the Discover Card?" LOL They have come a long way!

It is really sad to see what has happened to Sears. As a young Gen X (missed being a MIllennial by a few years ) I have seen a lot of these changes first hand. If this happened to Sears (mostly through really, really bad management), maybe Walmart will someday meet its fate. Sorry, got off topic there.