Credit Card Study

General
What are Credit Cards
Advantages of Credit Cards
Applying for a Credit Card
Children and Credit Cards
Credit Card Terms and Fees
Credit Cards - The Right Tool for Merchants
Credit Cards as a Credit Instrument
Credit Cards Codes and Numbers
How Many Credit Cards are Enough
How to Select the Right Credit Card
Interest Rates for Credit Cards
Online Credit Card Usage
Risks of Credit Cards
Using Credit Card Overseas
Where to Use a Credit Card
Zero Rate Credit Card or Not

Major Credit Card Issuers
Wamu credit cards
American Express Credit Cards
Capital One Credit Cards
Chase Credit Cards
Citi Credit Cards
Diners Club Credit Cards
Discover Credit Cards
Mastercard Credit Cards
Visa Credit Cards

Credit Cards and Debt
Avoiding Credit Card Debt
Bad Credit and Credit Cards
Credit card debt consolidation
Credit Card After Bankruptcy
Credit Cards and Credit History
Getting Out of Credit Card Debt
Filing For Bankruptcy
If a Credit Card Issuer Sues You
The Optimal Credit Card Balance
Credit Card Debt Refinance

Credit Cards and Fraud
Avoiding Credit Card Fraud
Credit Card Fraud Protection for Merchants
Famous Credit Card Frauds
Famous Credit Card Law Suits
How Credit Card Issuers Cheat
Merchant Credit Card Fraud
Protect Your Card
What to Do in Case of Identity Theft
How Consumers Cheat

Types of Credit Cards
Business Credit Cards
Debit Cards vs. Credit Cards
Low Interest Credit Cards
Rewards Credit Cards
Secured Credit Cards
Student Credit Cards
Types of Credit Cards
Unsecured Credit Cards
Zero Credit Cards

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Discover Credit Cards

Discover credit cards might not be as popular as Visa and MasterCard but they certainly can't be ignored as a player on the credit card market. Discover credit cards are popular mainly in the United States, where it is estimated that there are about 50 million of them. Unlike the other major credit card payment systems like Visa, MasterCard, Diners Club or American Express, Discover cards were introduced on the market relatively late - in mid 1980s - at a time when all the other major players were already established companies. Probably the late arrival of Discover credit cards is one of the reasons they are not so popular as the other ones. Currently Discover is owned by Morgan Stanley but there are constant rumors that it either will become an independent company, or will be sold to another company.

But besides their late arrival, there were other reasons why Discover credit cards are still not as popular and wide-spread as Visa and MasterCard ones. Up to the end of 2004 banks, which issued Visa or MasterCard credit cards were not allowed to issue Discover ones. This was a most discriminatory practice and it has been declared unlawful by the Supreme Court. Since the practice has been abolished, more and more financial institutions and department stores have been issuing their own credit cards with the Discover brand and it can be expected that now, when competitors can't use backstabbing practices to stop Discover, it will gain more and more popularity in the next years.

Having in mind the tough history of Discover, it is not surprising that compared to the offerings of the financial institutions from the Visa and MasterCard alliance, the offerings of the Discover credit card system are like a poor relative. This, combined with the fact that generally Discover has low or no acceptance outside the United States explains why Discover offers only four types of credit cards – a Platinum credit card, a Discover Gas card, the miles card and a student card. The four types of credit cards do have varieties but still they are far from the abundance of Chase credit cards, for example.

However, it is not true to say that Discover cards are of no significance of the credit card market. They rank among the ten most popular credit cards in America and are making their way to Latin America, the Caribbean and China. Thanks to an alliance with the China UnionPay network, in China Discover cards are the most widely accepted American credit cards, leaving behind brands like Visa, MasterCard and American Express. A similar alliance is in power with the Japanese JCB Network, so it can be expected that soon Discover cards will become popular in Japan as well.