July 21, 2010

Discover Card Expands Rewards Program

Enhanced Redemption Site Offers More Ways to Redeem Cashback(R) Bonus

RIVERWOODS, Ill., Jul 21, 2010 (BUSINESS WIRE) -- Discover today announced it has enhanced its rewards redemption experience to offer cardmembers greater value, choice and convenience. Through the launch of a redesigned redemption site, cardmembers will now have access to hundreds of new brand-name merchandise and more options for how to redeem Cashback Bonus(R) rewards.

"As a leader in cash rewards, we know how consumers earn their rewards is important, but how they redeem them really defines the value of the rewards experience," said Dana Traci, vice president of rewards and product management at Discover. "Our new and improved redemption experience will help Discover cardmembers get a lot more benefit from their rewards."

Discover pioneered cash rewards, and through its Cashback Bonus program, cardmembers earn 5% Cashback Bonus in specific categories that change on a regular basis throughout the year, and up to 1% Cashback Bonus on all their purchases.

Redemption options will still start as low as $20 and there are now more ways for cardmembers to redeem, including: Partner and Discover gift cards; merchandise; charity donations; direct deposit; and statement credit. And cardmembers now can choose a split-pay option on select merchandise, allowing them to pay for a portion of the price with their Cashback Bonus and put the remaining balance on their Discover or Diners Club cards.

These enhanced redemption options are consistent with Discover's tradition of continuously giving more back to its cardmembers. Discover Cardmembers already have the unique opportunity to redeem their rewards for amounts greater than face value. For instance, cardmembers have the ability to redeem $20 Cashback Bonus for a $25 Partner gift card.

Additionally, the new site will feature personalized recommendations based on shopping habits and past redemption behavior. Hundreds of brand-name merchandise will be offered and items will ship free of charge to any U.S. street address.

Discover has also enhanced the new redemption site's functionality, with improved left-hand navigation and a tailored search option using the new Quick Find feature, which will allow cardmembers to search by category or Cashback Bonus amount.

To see how Discover cardmembers use and enjoy their Cashback Bonus, please visit

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

SOURCE: Discover Financial Services

Mai Lee Ua