March 13, 2007

Discover Financial Services Introduces Discover® Motiva SM Card

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® MotivaSM 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 BonusSM – 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 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, and Barnes& when shopping through Discover Card's exclusive online shopping site, ShopDiscover (

•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

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, or

Media Contact
Matt Towson