Discover has quite a good selection of top cash back, no annual fee credit cards you may want to check out. While Discover More is their flagship product, they also have credit cards that cover the gamut of consumer needs: including several travel credit cards and student credit cards. Discover is also one of the more accessible prime credit cards available in the marketplace -- you'll need at least a fair credit score to get yourself approved for one of these cards. Check our list below for credit cards with a top rewards program.
Who is Discover? The Discover brand was originally introduced into the marketplace by Sears, after a recent purchase of both Dean Witter (investment brokerage firm) and Coldwell, Banker & Company (real estate) in an attempt to add a full financial services arm to its already booming retail and mail order catalog business. The Discover Card as a credit card issuer is a pioneer in the card marketplace, establishing a large customer base in competition with Visa and Mastercard. Here are some great features you'll get with a Discover credit card:
It also didn’t hurt that Discover was the only credit card for a long time that was accepted by U.S. Customs to pay duties on items being brought back from abroad.
A little bit of Discover trivia and history: at the turn of the decade, Discover attempted to branch out and allow other financial institutions to issue Discover branded credit cards, only to be blocked by the Visa and Mastercard Card Associations. However, the Supreme Court ruled in favor of Discover and within months, Discover struck a deal with G.E. Consumer Finance that would allow G.E. to issue Discover cards along with its portfolio of Visa and Mastercard products. Discover was able to get some traction in the marketplace this way.
The main drawback to the Discover brand is its lack of acceptance in foreign markets. Discover has over 50 million cardholders and over 4 million merchants that accept the brand domestically; however, the card is not issued in any territory or country outside of the U.S. and few foreign merchants accept it. Discover is looking to change this by expanding its presence in Mexico, Costa Rica, Micronesia, Belize, the Marshal Islands, and Palau with their eyes on Europe and the Asian markets next. One of the ways it’s doing this is through the purchase of the Diner’s Club brand from Citigroup in 2008.
Discover offers a great array of credit card products as an alternative to Visa and Mastercard. With a no annual fee policy and great cash back rewards, you'll realize why It Pays to Discover.