More than 90 percent of merchants in the United States accept Discover credit cards, as of April 2015. Discover credit card acceptance varies internationally, but merchants in many countries, particularly those in Europe and Asia, accept Discover credit cards.Know More
The four major types of credit cards are Visa, MasterCard, American Express and Discover, which is the youngest of the four. Visa and MasterCard are technically credit card processors, whereas American Express and Discover are card issuers. Visa and MasterCard have card processing fees of approximately 2 percent, which is lower than the card processing fees for American Express or Discover. The lower processing fees are one reason why more merchants accept Visa and MasterCard than American Express or Discover.
Discover also often sides with the customer over the merchant in regards to charge backs and refunds. For example, consumers can return purchases made with a Discover credit card up to 90 days after the purchase date for a refund on any item costing up to $500, regardless of the store's return policy.
In 2007, only 77 percent of the stores that accepted Visa and MasterCard in the United States also accepted Discover. Since that time, Discover has focused on gaining more merchant acceptance.Learn more about Credit & Lending
Discover offers three types of credit cards: Discover it, Discover it chrome for Students, and Discover Business, as stated by Discover. Discover also offers other banking services, such as student loans, home loans, personal loans and banking accounts.Full Answer >
Repairing bad credit requires paying down debt, making payments before deadlines, using a smaller portion of available credit and not closing credit cards after paying them off, as Clark Howard reports. Applying these strategies helps consumers with bad credit restore their credit history.Full Answer >
A credit score is improved by always paying bills on time, keeping debt on credit cards low, and avoiding opening unnecessary lines of credit. It is also important to obtain a credit report and correct any errors, make payments on large bills to keep credit balances low, keep cards active by using them for minor purchases, and not cancel old credit cards. Correcting poor credit scores is a long-term effort that requires patience and moderation. If major credit mistakes need to be corrected, consumers should negotiate with creditors to reduce monthly payments and make goodwill adjustments of account reports.Full Answer >
Interest paid on credit cards is expressed as an annual percentage rate, or APR. Therefore, if a credit card has a 20 percent APR, the credit card holder will pay 1/12 of that rate monthly, which is added to the credit card balance.Full Answer >