Wal-Mart and Discover Join Credit Card Forces
In it's first challenge since the US Supreme Court last October let stand an antitrust ruling that forced Visa and MasterCard to stop preventing their member banks from issuing rival cards, Discover and Wal-mart have teamed up to issue the first Discover branded credit card. This is Discover's first attempt to challenge the Visa and MasterCard dominance of the US credit card market.
The Supreme Court decision made it possible for Discover and American Express to start searching for partners to issue their cards. Discover Credit Services will issue the new Wal-Mart Discover credit card which should be available by March with applications already being accepted on the Walmart.com website.
The new credit card offers the following benefits:
** No annual fees
** Special financing offers
** Choice of payment due date
** $0 fraud liability
** 3¢ per gallon gas discount (where available)
** Make in-store payments at any Wal-Mart or SAM'S CLUB register
** $20 cash at time of purchase
** Purchase prepaid phone minutes for 5¢ per minute
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01-21-2005, 08:42 AM
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