Discover Financial Services launched "Discover it", a no-annual fee credit card which offers cardmembers rewards and service while providing what it calls a unique combination of features, benefits, and an enhanced customer experience.

"We believe that consumers want something different from a credit card company-something that addresses their specific needs, treats them fairly and gives them what they deserve," says Roger Hochschild, president and chief operating officer at Discover. "This card is a natural extension of Discover's ‘It Pays to Discover' brand positioning and truly shows how Discover is looking to build a long-term relationship with its customers."

New cardmembers receive the card via expedited delivery in a box. Inside, cardmembers will find a metallic blue card that resembles brushed steel, with their name and card number on the back of the card.

Here are some of the new card's features:

• No annual fee. No over limit fee. No pay-by-phone fee. No foreign-transaction fee. And no fee for the first late payment. Plus Discover won't raise a new cardmember's APR for paying late.

• Cardmembers can earn 5% cash back in relevant categories that change throughout the year, up to a quarterly maximum, when they sign up for each 5% program. Cardmembers automatically earn 1% cash back on all other purchases, not points. Cardmembers also earn 5-20% cash back through the company's online shopping portal, ShopDiscover, and can use the new Cashback Concierge, a free service that guides them through an online tour that helps them get the most from their rewards based on how they use their cards.

• Cardmembers can choose their own due dates and pay until midnight (ET) online or by phone. Free online management tools, mobile apps and email reminders keep cardmembers on top of their accounts.

• Cardmembers have the option of immediately being connected to a live, U.S.-based customer service representative to discuss their accounts at any time.

[This article was posted on January 15, 2013, on the website of ABA Banking Journal, www.ababj.com.] 

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