Discover® Card Introduces Up To 10% Cashback Bonus® Plus Cards

November 6, 2003
Riverwoods, Illinois. . . Discover Financial Services, a business unit of Morgan Stanley (NYSE:MWD), today announced the introduction of a new Cashback Bonus® Plus Program, an exciting new series of enhanced Discover® Platinum Cashback Bonus Plus Cards where Discover Cardmembers get the chance to earn awards of up to 10%. The first card to launch in the series is the Gasoline Card.

“Discover Card's Cashback Bonus award feature is a very appealing benefit of our Cards and our most popular feature,” said David W. Nelms, president of Discover Financial Services, Inc. “The launch of our new Cashback Bonus Plus Program gives consumers even more choices with an opportunity to customize their rewards.”

The Gasoline Card earns Cardmembers up to a 5% Cashback Bonus award on their gas purchases and up to 1% on their other purchases. Then, Cardmembers have the opportunity to increase their entire award, up to 10%, by exchanging their award for certificates from Cashback Bonus Partners. Additional Cards in this series will be launching throughout next year.

Other enhancements to the Cashback Bonus award program include a new investment redemption option. Using this option, Cardmembers can electronically transfer their Cashback Bonus award (in $20 increments) into their checking accounts or any of their existing savings accounts including 529 Educational Savings Accounts and Money Market Accounts. In addition, if Cardmembers choose to donate their Cashback Bonus award to The Make A Wish® Foundation, Communities in Schools or the Juvenile Diabetes Research Foundation, Discover Card will proudly donate an additional 20% to that charity.

“During last year's holiday season, many of our Cardmembers doubled their Cashback Bonus awards by redeeming for Partner certificates and giving them as gifts,” said Nelms. “The wide variety and popularity of our Cashback Bonus award merchant partners ensures that there is something for everyone on the gift list.”

Discover Card's list of more than 25 Cashback Bonus Partners continues to grow with the addition of Lands' End, and the upcoming introduction of Coldwater Creek, among others, providing additional benefits to Discover Cardmembers.

In addition, Discover Card also recently introduced The Miles Card from Discover® Card, an exciting product where Cardmembers earn one mile for every dollar they spend. This new product allows Cardmembers to redeem their miles for travel on any major domestic airline with no restrictive blackout dates. In addition to redeeming miles for travel, redemption begins with as little as 2,500 miles for other reward options including hotel stays, car rentals, vacation packages, brand-name merchandise, and gift certificates as well as cash rewards.

“The Miles Card From Discover Card is yet another example of Discover Card's commitment to reward its Cardmembers and provide the ‘right product' that meets their needs and lifestyles,” added Nelms.

Discover Financial Services, a business unit of Morgan Stanley, operates the Discover Card brands and the Discover Business Services network for its more than 50 million Cardmembers. Discover Business Services is the largest proprietary credit card network in the United States with more than 4 million merchant and cash access locations.