Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Monday, June 12, 2006

A New Small Business Credit Card from Discover

Discover Credit Cards
Discover Credit Cards
People all across the country have been visiting our credit card balance transfer site to take advantage of great credit card offers from the folks at Discover Card: Discover has been offering some of the most competitive annual percentage rates (APR's) for some time now -- and they still are.

Now Discover is jumping into the business credit card game, offering a new small business credit card with highly competitive benefits and features, like no annual fee and a credit line as high as $50,000. I think it's safe for me to write that the new Discover small business credit card is financial tool that small business owners can get excited about.

For more details, here's a clip from today's press release:

"Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE:MS), today announced the launch of the Discover Business Card: a single payment solution for small business owners designed to fundamentally change how they pay for everyday business purchases. The Discover Business Card delivers the financial flexibility and control business owners are seeking.

The Discover Business Card also leverages the core strengths of the Discover Card for consumers. For no annual fee, it offers Discover Card's leading Cashback BonusĀ® rewards program and unmatched customer service, customized to meet the unique needs of small business owners.

'The Discover Business Card provides the opportunity for the Company to take a leadership position in the small business payments space by addressing the underserved needs of the small business owner,' said David W. Nelms, Chairman and Chief Executive Officer of Discover Financial Services. 'With credit card penetration among small businesses at an estimated 35 percent - and only 10 percent of small business spending on plastic - the Discover Business Card's customized features and services address many of the challenges that have discouraged small business owners from using credit cards in the past.'

Unmatched Financial Flexibility and Control

Financial flexibility and control are critical to the success of small business owners. The Discover Business Card meets these needs with key features including:

  • PurchaseChecks: Unique, fee-free PurchaseChecks let small business owners pay merchants and suppliers who do not accept credit cards, allowing Business Cardmembers to receive benefits such as earning rewards, and the same APR and payment grace period as card purchases.
  • Employee Cards: Free Employee Cards with real-time, customizable limits and monthly spend reporting ensure that business owners have the necessary oversight and control they need to give Cards with confidence to their employees.
  • Extensive Reporting and Control: Online quarterly and annual statements by category, downloadable to QuickBooks(R), help ensure easy tracking of expenses and streamlined bookkeeping, especially during tax season. Simple, yet extensive, online account management tools help small business owners pay bills, redeem rewards, track or categorize expenses, and set up e-mail alerts to help them stay on top of their finances.
  • Business-Sized Credit: The Discover Business Card features highly competitive rates and business-sized credit limits up to $50,000.
America's Leading Rewards Program and Customer Service, Customized for Business

As the original innovator of cash rewards, Discover Card offers America's number one rewards program customized for businesses. The Discover Business Card provides special rewards for categories that are valued most by business owners, including 5% Cashback Bonus on office supplies, 2% Cashback Bonus on gas and up to 1% Cashback Bonus on all other purchases. The Discover Business Card also features unlimited rewards that never expire for active Cardmembers, which is especially important for business owners who lack the time to keep track of their rewards. The Card also offers the most flexible redemption options, and the ability to increase - even double - cash rewards with Discover Card's exclusive network of over 60 brand-name redemption partners.

Business Cardmembers can expect specialized customer care and can always access a dedicated Discover Business Card account manager in less than one minute. And Discover Business Card account managers are committed to taking care of Cardmembers' issues in just one phone call.

The Discover Business Card also provides the most advanced and convenient fraud protection available today, with a $0 fraud liability guarantee, free secure online account numbers and the industry's most vigilant fraud early warning system.

Building on a History of Innovation and Growth

With the launch of the Discover Business Card, Discover Financial Services continues to build upon its history of innovation as it evolves into a broad-based payments company offering a full range of modern and convenient payments products, including credit, PIN, signature debit and stored value.

Discover Card's twenty-year track record of firsts include the launch of Cashback Bonus rewards with the most redemption choices of any cash rewards program, no annual fee, 24/7 customer service and secure online account numbers."

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