Discover Card -- Prestige / Stigma

Anonymous · ‎05-28-2015

In 2015, Discover seems to be a pretty high brow card: great US-based customer service, nice perks, and selective underwriting.

But was it always so? I have this memory of a joke from a Jay Leno monologue back in the 1990s that went something like this:

"In some states now, people on food stamps can use an actual credit card instead of paper stamps. I thought we already had that! It's called Discover Card!"

What was it that gave Discover this reputation in prior decades and does it still have that reputation in some ways?

longtimelurker · ‎05-28-2015

@Anonymous wrote:
In 2015, Discover seems to be a pretty high brow card: great US-based customer service, nice perks, and selective underwriting.

But was it always so? I have this memory of a joke from a Jay Leno monologue back in the 1990s that went something like this:

"In some states now, people on food stamps can use an actual credit card instead of paper stamps. I thought we already had that! It's called Discover Card!"

What was it that gave Discover this reputation in prior decades and does it still have that reputation in some ways?

I don't think the general population would regard Discover as being prestigous, but I agree that the foodstamps line wouldn't resonate either

amakol · ‎05-28-2015

Probably has to do with the lawsuit against MC/VISA to let Discover/Amex become more accepted.

Discover was always the butt of jokes (Futurama) because not many people accepted it. Its acceptance is over 90% now so it's almost closed the gap. Maybe one day people won't think about also having a MC/Visa backup if Discover is their primary.

EQ 740 FICO, 4 INQ | EX 736 FICO, 5 INQ | TU 745 FICO, 5 INQ | CL $175K | AAOA 4 Years

Anonymous · ‎05-28-2015

I think it was the butt of jokes because it was created by Sears.

Themanwhocan · ‎05-28-2015

@longtimelurker wrote:
@Anonymous wrote:
In 2015, Discover seems to be a pretty high brow card: great US-based customer service, nice perks, and selective underwriting.

But was it always so? I have this memory of a joke from a Jay Leno monologue back in the 1990s that went something like this:

"In some states now, people on food stamps can use an actual credit card instead of paper stamps. I thought we already had that! It's called Discover Card!"

What was it that gave Discover this reputation in prior decades and does it still have that reputation in some ways?
I don't think the general population would regard Discover as being prestigous, but I agree that the foodstamps line wouldn't resonate either

Well, they don't just give Discover cards to just anybody. you know!

You have to apply.

TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800

Anonymous · ‎05-29-2015

Mod: How does this get moved? This is clearly Credit Card related.

Anonymous · ‎05-29-2015

Going way back when Discover first came out they ended up having three different types of Discover Cards. I had one with a $15K CL, one with a $10K CL and one with a $5K CL. For the life of me they were different and it had to be from the Greenwood Trust Company. This was after they were out for awhile. Pre-Sears. Any old timers want to help me here?

14Fiesta · ‎05-29-2015

@Anonymous wrote:
Mod: How does this get moved? This is clearly Credit Card related.

Not sure, but since we're in smorgasboard I'll just leave this right here.....

https://www.youtube.com/watch?v=ePT9Ed1pk4w

EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)

Anonymous · ‎06-03-2015

Oh that video was hillarious. I honestly had no clue that people thought poorly of Discover cards. Perhaps I am naive. I thought Discover was a prime lender?

thom02099 · ‎06-03-2015

@Anonymous wrote:
I think it was the butt of jokes because it was created by Sears.

^^^^^ This.

What they were back then, and what they have become, in spite of the Sears connection, is impressive. Now, they have joined the ranks of the "prime" credit cards (as well as a good source for loans, such as student loans).