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Discover Financial Services

Issuer of credit cards and payment services.

Headquarters: 2500 Lake Cook Rd.
Riverwoods, IL 60015
Employees: 11,650
CEO: David Nelms
Stock Symbol: DFS

Website: http://www.discover.com

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Discover Financial Services is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. It is the third-largest credit card company behind Visa and Mastercard.

The company operates the Discover Card, the first credit card to offer cash awards and now with over 61 million users. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and 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.

Discover Card users can get up to 1% cash back on purchases and up to 5% in different categories.

As part of its U.S. card sector, DFS has two banking affiliates in the United States: Discover Bank and Bank of New Castle. The company issues U.S. Discover Cards through Discover Bank, which is a Delaware corporation. Bank of New Castle activities are primarily limited to credit card operations. Discover Bank offers certificates of deposit, money market deposit accounts, personal and student loans, and other consumer financial products and services.


Discover Card was unveiled nationally during the 1986 Super Bowl. Discover Card made it known that innovation and change were coming to the credit card industry: Change that focused on features and services that consumers wanted, but couldn't find in other credit cards. At the time, annual fees were common and cash rewards were unheard of. Discover Card set out to change that as a pioneer in offering cash rewards and no annual fee.

In 1989, Discover signed up its one millionth merchant - Vincente's Restaurant in Wilmington, DE.

Discover was part of the Dean Witter Co. and went public as Dean Witter, Discover in 1993.

Dean Witter, Discover Co. was acquired by Morgan Stanley in 1997.

In 1998, Discover introduces a platinum card.

Discover acquires the PULSE payment network in 2005.

Morgan Stanley decides to spinoff Discover Financial Services in 2006. The new company goes public in 2007 as an independently traded firm.

Discover acquired the Student Loan Corporation at the end of 2010.


Personal Financial Benefits
Dependent Care Flexible Spending Account
Health Care Flexible Spending Account
Optional 401(k) savings plan with tax-deferred savings

Insurance Benefits
Basic Life Insurance
Business Travel Accident Insurance
Accidental Death and Dismemberment Insurance
Short Term Disability Insurance
Dependent Death Benefit
Optional Long Term Disability Insurance
Optional Supplemental Life Insurance
Optional Long-Term Care Insurance
Optional Voluntary Personal Accident Insurance

Health & Wellness Benefits
Optional Healthcare Plan
Optional Dental Plan
Optional Vision Plan
Health Services Center
Employee Assistance Program

Work Environment Benefits
Dynamic, supportive work environment
Performance-based incentive plans
Departmental performance contests/rewards
Various schedules available
Exceptional variety of career/growth opportunities
Beautiful, well-appointed facilities
Full-service cafeteria
State-of-the-art Fitness Center
1.6 Mile jogging/walking trail at headquarters

Life Enhancement Benefits
Dependent Care Resources
Health & Wellness Benefits
Workplace Flexibility
Paid Time Off
Employee Assistance Programs
LifeWorks Resource and Referral Program
Service Anniversary Awards

Personal Time Off (PTO)
This program provides employees with up to five weeks of paid time off per year ­ and the flexibility to use the time as they see fit.

Rideshare Program
Regular, free shuttle service is available from our Riverwoods facility headquarters to nearby Metra stations. Pace suburban bus passengers also receive on-site bus service.

Nationwide Discounts
Employees are eligible to take advantage of a 10% tuition discount offered by Children's World Learning Centers.

Updated January 24, 2015