Discover credit cards are issued by a private credit-card issuer that belongs to Discover Cos. The company was founded by William S. Jennings, III. He worked as a salesman for several credit card companies, and later became interested in credit-card marketing.
Discover is a major credit card brand issued mainly in the United States. It was introduced by Sears in 1985 with the first issue of the Discover Card. While launched initially, Discover didn't charge an annual fee, offered a greater-than-usual credit limit and did not charge a transaction fee. Because of these factors, Discover has become widely accepted by millions of cardholders in the United States and throughout the world.
In addition, Discover credit cards feature excellent credit terms and rewards programs. In order to obtain the excellent credit terms and rewards, cardholders must maintain a good credit rating. A cardholder's FICO score is calculated by subtracting his or her current balances from their previous outstanding balances. A low score indicates that cardholders have not settled their debts in full. A high score indicates that cardholders have been responsible in paying their balances off in full and have maintained good credit ratings.
The Discover Credit Card offers cardholders the option to earn an excellent credit rating through the use of points, or “debts”. These “debts” are applied to the cost of making monthly purchases and can accumulate over time until they reach a preset dollar amount. When cardholders reach a certain amount, they receive either a fixed or prepaid reward. In the case of the Discover Card, cardholders receive a one-time bonus of one percent (that's five percent in combined purchases each quarter, then 1 percent) on the outstanding balance.
As you might expect, the Discover Credit Cards carries some very high-interest costs. Thus, it would be prudent to budget the use of these cards. The Supreme Court ruling prohibits credit cards from extending the privilege of unlimited spending to any consumer. Thus, it would be prudent to only purchase items with a Discover Credit Card that is absolutely necessary for daily living expenses. In other words, those who would use the cards would begin to pay more than what they normally would for everyday purchases.
Finally, as is the case with most credit card brands, there is also the issue of recurring fees and late fees. Some cardholders elect to have their fees paid automatically, while others choose to pay them up-front and pay them later. Regardless of the manner in which cardholders choose to pay for their Discover Credit Cards, it would be wise to investigate all available options prior to choosing a payment network. One should do this prior to signing up for any cards, including Discover Credit Cards.
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Discover it Credit Cards is a cashback bonus program that allows you to get paid for every purchase you make. The Discover card offers two different types of rewards… cash and points. This card is ideal for those who travel a lot or even those who just like to shop. So, if you're looking ...