February 26, 2008

Discover(R) Card Promotes Financial Literacy With Launch Of Personalized Financial Tools - Paydown Planner And Purchase Planner

Free Online Tools Help Cardmembers Pay Down Their Balances And Plan For Large Purchases

RIVERWOODS, Ill.--(BUSINESS WIRE)--Feb. 26, 2008--Discover Financial Services (NYSE: DFS) announced today the launch of two new financial tools, the Paydown Planner and the Purchase Planner. These easy-to-understand tools are designed to help cardmembers better manage their credit and empower them to make smart financial decisions.

The Paydown Planner and Purchase Planner help guide cardmembers' spending and payments by calculating the period of time it may take to pay down a balance or how a large purchase may affect their account. Unlike existing solutions, these tools are cardmember-specific. Each interactive planner is pre-populated with the cardmember's account information to help ensure relevance, accuracy and ease of use.

The Paydown Planner gives cardmembers the personal information that they need to pay down their balances by finding the right payment options to reach their financial goals. Cardmembers have two choices when accessing the planner:

  • Start with a monthly payment and see the approximate time period it will take them to reach their pay-down goal.

  • Start with a target date and see an estimate of how much they will need to pay each month to reach that goal.

The Purchase Planner helps cardmembers understand how a purchase could affect their monthly payment and plans to pay down their balance. Like the Paydown Planner, cardmembers can view results through two different options:

  • Enter the total purchase price and receive an approximate monthly payment amount needed to pay off their entire balance.

  • Enter the preferred monthly payment amount and receive an estimate of how much they can spend on a new purchase.

"The planners are another example of how Discover is strongly committed to helping our cardmembers stay on top of their finances and reach their financial goals," said Mike Boush, vice president of marketing planning and new initiatives at Discover. "We encourage our cardmembers to use these free and practical tools to help them answer relevant questions and engage in good credit management."

To access the planners, cardmembers simply need to log into the Account Center at and link to the Personal Planning Calculators page.

They also can schedule payments in advance online, choose a payment due date, and opt to have automatic e-mail reminders to help them stay on top of their finances.

To learn more about the Paydown and Purchase Planners, please visit

About Discover Financial Services

Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America's cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation's leading ATM/debit networks. Discover also operates the Goldfish credit card business in the United Kingdom. For more information, visit


CONTACT: Discover Financial Services
Laura Gingiss

SOURCE: Discover Financial Services