Discover bank: What does it offer customers?

Discover Bank is part of Discover Financial Services. It is involved in direct banking operations and is a famous consumer and business credit cards issuer. It introduced the concept of credit card rewards and no fee credit cards.Discover bank offers online banking and equips customers with many useful online tools which can be used to plan finances.

Discover credit cards (as ofJuly 2011)

Discover More Card It offers 0% APR on balance transfers and purchases for 15 months. It carries no annual fees and the interest switches to between 11.99% and 19.99% after the interest holiday. It carries a 5% cash-back bonus on spends on travel, gas, groceries, restaurants, etc. Moreover, it offers between 5% and 20% cash-back on purchases through their online shopping mall and 1% unlimited cash-back on other purchases. Discover Motiva Card It is mainly a cash rewards card meant for frequent spenders. It offers 3.99% APR on balance transfers and purchases for 15 months. It carries no annual fees and the interest switches to between 11.99% and 19.99% after the interest holiday. It carries a 5% cash-back bonus on interest charged. Besides, it offers between 5% and 20% cash-back on purchases through their online shopping mall and 1% unlimited
cash-back on other purchases. Discover Miles Card

It rewards users with: a) 12,000 bonus miles (1,000 each month when a purchase is made) b) Double miles on the first $3,000 spent on travel and restaurants in the 1st year, and 1 mile per dollar spent on all other purchases c) Double miles on purchases through Discover’s online shopping mall d) Miles on all card swipes for booking travel from any airline, travel agent or travel site. It features a 0% APR on balance transfers and purchases for six months. Thereafter, the interest rate switches to between 10.99% and 15.99%. The business cards The business cards include Discover Business Card and Discover Business Miles Card. The Business card allows users to earn 5% cash-back bonus on purchase of office supplies, 2% on gas and 1% on other purchases. Employees are given cards for free and offer complete fraud protection and monitoring. The Business Miles cards allow users to earn double miles on gas and travel purchases and 1 mile for every dollar spent on other purchases. The APR on these cards ranges between 12.99% and 19.99%. Discover Gift Cards People can also gift customised Discover Gift Cards. These cards cost between $3.95 and $6.95 and their balance can be filled up to $500.

Discover Banking services (as of July 2011)

Online savings Accounts carrying 1.15% APY (Annual Percentage Yield) Money Market Accounts carrying 1.05% APY Certificate Of Deposit accounts carrying 2.35% APY Individual Retirement Account Certificate of Deposit carrying 3% APY