Industry's First Credit Card to Give Cash Rewards for Good Credit Management
Riverwoods, Illinois, March 13, 2007 --
Discover Financial Services, a business unit of
Morgan Stanley (NYSE:MS), today announced the
launch of the Discover® Motiva
SM Card,
the credit card that gives consumers cash rewards
for good credit management.
The Discover
Motiva Card is designed for consumers who carry
a balance and often feel underappreciated by card
companies rather than rewarded for being some
of their best customers. They believe current
rewards programs focus on the biggest spenders
and therefore don't meet their needs.
With
the Discover Motiva Card, each time cardmembers
make on-time monthly payments six times in a row,
they receive their next month's interest back
as a Pay-On-Time Bonus
SM – that's twice
a year, every year when they pay on-time each
month. Pay-On-Time Bonus rewards are in addition
to the unlimited
Cashback Bonus® cardmembers
earn on all purchases, giving them two ways to
earn cash rewards and putting more money in their
pockets. In order to ensure cardmembers earn
their Pay-On-Time Bonus, the Discover Motiva Card
offers helpful payment tools such as automatic
payment reminders and free payments by phone –
even on their billing date.
“The Discover
Motiva Card is a breakthrough new product that
actually pays cardmembers interest back for their
good credit management,” said Margo Georgiadis,
Executive Vice President and Chief Marketing Officer
of Discover Financial Services. “Consumers want
a card company that's working for them and is
committed to helping them make financial progress.”
Discover Motiva Card Features
With no annual fee, the Discover Motiva
Card provides best-in-class benefits with flexible
options that give cardmembers unmatched control
and allow them to customize their accounts to
manage their balances and make their monthly payments:
•Pay-On-Time Bonus: Cardmembers who
make on-time monthly payments six times in a row
receive their next month's interest back as a
Pay-On-Time Bonus – twice a year, every year when
they pay on-time every month.
•Free
Pay-By-Phone Options: Unlike other cards that
charge consumers a fee to pay their bill over
the phone, with the Discover Motiva Card, cardmembers
can enjoy free payment by phone or online – even
on the payment due date. Cardmembers can choose
how to pay their bill as well, either online,
by phone, by mail or through convenient, automatic
direct payments each month from their checking
accounts.
•Customized Payment Due Date:
Cardmembers decide when they want to pay their
bill by choosing a payment date that works best
for them. When paying online, cardmembers can
also schedule their payments in advance. Additionally,
cardmembers automatically receive e-mail reminders
to let them know when their payment due date is
approaching in order to help them make on-time
payments and earn a Pay-On-Time Bonus.
•Helpful
E-mail Alerts: Optional email alerts let cardmembers
know when they are close to exceeding their credit
lines, when a large purchase has been made or
when a return, credit or a balance transfer is
posted. Other helpful tools on Discovercard.com
include easy downloading of account information
to Quicken®.
•Savings Through Competitive,
Long Duration Balance Transfers: The Discover
Motiva Card allows cardmembers to transfer over
balances to the card at attractive rates for long
durations, providing compelling long term value
to those looking to manage and pay down their
balances.
Best-in-Class Benefits
Consumers Know and Expect from Discover Card
The Discover Motiva Card builds on Discover
Card's heritage of innovative cash rewards, unmatched
customer service and vigilant fraud protection:
•America's #1 Cash Rewards Program:
Beyond receiving Pay-On-Time Bonus, Cardmembers
earn up to 1%
Cashback Bonus on every purchase.
They have the most flexible redemption options
of any credit card, including the ability to redeem
their
Cashback Bonus as a statement credit,
accelerating their ability to pay down their balances.
Cardmembers also have the ability to increase,
even double their
Cashback Bonus when they
redeem for gift cards or e-certificates from an
exclusive network of over 70 brand-name partners.
As always,
Cashback Bonus rewards are
unlimited and never expire as long as cardmembers
use their card.
•More Rewards Through
ShopDiscover: To make their money go further,
cardmembers can earn 5-20%
Cashback Bonus
every day from top online retailers such as Target.com,
Overstock.com and Barnes&Noble.com when shopping
through Discover Card's exclusive online shopping
site, ShopDiscover (
www.discovercard.com/shop).
•Award-winning Customer Service: The
Discover Motiva Card is supported by the most
knowledgeable and empowered team of customer service
representatives in the industry, who are reachable
in less than 60 seconds, 24/7, and are committed
to solving cardmembers' issues in just one phone
call.
•Advanced Fraud Protection: The
Discover Motiva Card also provides the most advanced
and convenient fraud protection, with a $0 fraud
liability guarantee. Cardmembers are never responsible
for unauthorized charges – online, offline, anytime,
anywhere.
Consumers can learn more about
the Discover Motiva Card by calling 1-800-DISCOVER
(347-2683), or by visiting
www.discovercard.com/motiva.
About Discover Financial Services
LLC Discover Financial Services
LLC, a business unit of Morgan Stanley (NYSE:
MS), operates the Discover Card with more than
50 million cardmembers, and the Discover Network
with more than 4 million merchant and cash access
locations. Discover Financial Services also operates
the PULSE ATM/debit network, which serves over
4,400 financial institutions and includes nearly
260,000 ATMs, as well as POS terminals nationwide.
For more information, visit
www.discovercard.com,
www.discovernetwork.com
or
www.pulse-eft.com.
Media Contact Matt
Towson
224-405-5649
matthewtowson@discoverfinancial.com