trof
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Sat Jul-28-07 10:41 AM
Original message |
What's the deal with Discover Card? Can you 'splain me? |
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I understand that many banks and other corporations issue (or 'sponsor') Visa and MasterCard. So if Wells Fargo can woo you away from Citibank...bully for them.
But as near as I can tell, there is only ONE Discover Card issuer...Discover Card.
I've had one for many years and enjoy the cash-back feature. So why do I get solicitations in the mail from Discover Card? Don't they know I already have one? I don't need 2.
I don't get it. :shrug:
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pagerbear
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Sat Jul-28-07 10:51 AM
Response to Original message |
1. It's cheaper to market to everone in a demographic |
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...than to screen that demographic for people who already have the card. Or who don't qualify for the card.
That, and marketers are remarkably stupid.
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Gormy Cuss
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Sat Jul-28-07 11:08 AM
Response to Reply #1 |
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So-called targeting marketing isn't much smarter either.
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Dont_Bogart_the_Pretzel
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Sat Jul-28-07 11:30 AM
Response to Original message |
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I have two citi's and every month I get those "transfer" checks in the mail..from BOTH cards, if only I could transfer my balance from one citi to another. :eyes:
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trof
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Sat Jul-28-07 11:37 AM
Response to Reply #3 |
4. You may be on to something. Perpetual motion? |
Zomby Woof
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Sat Jul-28-07 12:44 PM
Response to Original message |
5. They're owned by Sears |
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And Sears doesn't lend the name to other banks as a third party. So it's Discover Bank, and Discover Bank only.
Diner's Club (the first credit card issuer, by the way) is set up the same way - one bank only, through one company.
Visa used to be only through Bank of America (called the 'Bank of America Card' back in the day), until they went cross-market as Visa in the 80's. That means when you have a third party Visa, like Wells Fargo, you are probably borrowing from more than one bank in a hidden 'chain'. Visa kept the same logo and colors, just replacing the name - thus eliminating any confusion about who the issuing bank was. But interest rates go just a tad higher when the third party banks get involved. Hence Discover's gimmick of 'low interest' (which is still usurious).
Basically, they are all evil, lol.
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bridgit
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Sat Jul-28-07 12:54 PM
Response to Original message |
6. we only use ours for business... |
DU
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Wed Apr 17th 2024, 10:23 PM
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