Credit Cards By Discover Bank
Discover Card is a brand of credit card
operated by Discover Bank, a subsidiary of Morgan Stanley. It was
originally issued by Sears and later spun off into a separate company,
which was acquired by the Dean Witter financial services firm. It
became a part of Morgan Stanley when that firm bought Dean Witter
Discover in 1997.
Discover Card Company Purchases
In early 2005,
Discover Card bought Pulse, an EFT association. This purchase
it to issue
debit and ATM cards.
In 2005, Discover Card made its first deal to have its card issued
by another bank (GE Consumer Finance will issue the Discover/Wal-Mart
card and manage it on the Discover network).
In April 2005, Morgan Stanley announced that it is going to spin
off Discover Card into an independent company within 6 months.
However, sources in June 2005 report that Morgan Stanley is reassessing
its plan to spin off its Discover Card operation.
article is licensed under the GNU
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