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how about places that only accept DISCOVER?

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SoulMaster
Established Contributor

Re: how about places that only accept DISCOVER?

It's funny you don't see more of them:

 


Discover Financial Services is an American financial services company, which issues the Discover Card and operates the Discover and Pulse networksDiscover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders.
Discover is the fourth largest credit card issuer, when measured by card balances, behind Bank of AmericaJPMorgan Chase, and Citi, and ahead of Capital One and American Express.

Both cited from http://en.wikipedia.org/wiki/Discover_Financial, which cited other sources.

 

I love my Disco!

 

-SM

 

 

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 11 of 23
Anonymous
Not applicable

Re: how about places that only accept DISCOVER?

What does the amount of balances have to do with anything?  A huge portion of AMEX's business is charge cards that do not allow people to carry a balance.  AMEX cards have 5 times the amount of money run through them than Discover (Link: http://www.cardhub.com/edu/market-share-by-credit-card-issuer/) and there are very vew places that only accept AMEX.

Message 12 of 23
scottwagnon
Valued Contributor

Re: how about places that only accept DISCOVER?


@SoulMaster wrote:

According to Futurama, in the year 3000, Discover is the only card that still exists... but there are still several merchants that won't take them!

 

(episode: A Fishfull of Dollars)

 

-SM


Lol
earth air water fire master visa express discover
Message 13 of 23
improvingmycredit
Valued Contributor

Re: how about places that only accept DISCOVER?

That is interesting.  Wonder why I don't see more myself.  I'm in the restaruant business.  Everyone has to eat.  VISA is the card I see the most then Mastercard.  Either in credit or debit card form.


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Message 14 of 23
improvingmycredit
Valued Contributor

Re: how about places that only accept DISCOVER?

Here is some interesting info:

 

American Express cardholders charged more on their credit cards last year than those with MasterCards, the first time that's happened since the 1960s.

The figures released Wednesday by The Nilson Report showed that consumers spent $540 billion on their American Express cards in 2011, up 13.4 percent from the previous year. That was enough to put the credit card issuer at the No. 2 spot behind Visa in total card purchases.

Visa credit card purchases totaled $888 billion, growing 9.7 percent year-over-year. MasterCard came in third with $508 billion, an increase of 6.1 percent over 2010. Discover rounded out the four with $114 billion, up 7.7 percent.

Still, the number of MasterCard credit cards circulating last year rose by 5 million, the most of the big four. Discover saw a 3.3 million boost in circulation, while American Express added 1.7 million. Visa actually saw a 5.9 million decline in circulation of its credit cards.



Read more:  Bankrate.com http://www.bankrate.com/financing/credit-cards/amex-trumps-mastercard/#ixzz1npzo9fvE


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Message 15 of 23
steve23111
Frequent Contributor

Re: how about places that only accept DISCOVER?

Back in 1998 when I first went to work for a local family-owned chain of grocery stores, Ukrop's Super Markets, the 25 or so stores only accepted debit and Discover, and did not actively promote the fact they could process Discover. Visa and MasterCard (but not American Express if I remember correctly) were accepted in the pharmacy only. Needless to say, even in 1998 this caught a lot of people off guard if they stopped in on their way through Richmond. We could still take care of them by ringing up the order on the front end, suspending the transaction, then resuming it in the pharmacy and collecting payment there. At some point they added Visa and MasterCard to the register in the store office as well. By around 2000 or 2001, they finally deployed all four major cards at all of the registers.

 

The justification for the resistance was that they had negotiated a very favorable transaction fee with Discover and they were not (at the time) getting much pressure from customers to accept credit cards, as most paid either by cash, check, debit, or charge account (via an in-store account number typewritten on a laminated paper card!)

 

Ultimately, no customer that I'm aware of was ever turned away for an inability to pay due to the policy. We had a way to take care of them. Of course, right up until the day the chain was bought out by Martin's in 2010, the 73 year old company maintained its time tested technique of dealing with customers who forgot their checkbook or came up short at the register: send them home with a "thank you" and a promise to pay the next time they come to the store. There were many unique things about Ukrop's -- having only accepted Discover cards for a period of several years is just one of them (closed on Sundays, refused to sell alcohol, the list goes on).

Message 16 of 23
MarcinXP
Frequent Contributor

Re: how about places that only accept DISCOVER?

Don't know of any places that takes Disconver exclusively, however would like to point out that you do get 5% off using only Discover at Six Flags theme parks.

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Message 17 of 23
boomhower
Valued Contributor

Re: how about places that only accept DISCOVER?

From a business persective it doesn't make sense.  Visa/MC are the most common cards out there, you want you customers to be able to pay with what they have.  By limiting the option to one of the less popular ones is just a bad business move.

Message 18 of 23
LS2982
Mega Contributor

Re: how about places that only accept DISCOVER?

i dont think that would be possible, there would be too many dissatisfied consumers out there to want to shop there.



EQ FICO 548 3/3/16
Message 19 of 23
Anonymous
Not applicable

Re: how about places that only accept DISCOVER?

That would be business suicide unless your store was a Discover-themed restaurant.

Message 20 of 23
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