I always thought it was because they give this card to just about any Joe Blow that asks for one.
I know they sent me one my last year in college and I didn’t even have a job. And they knew this if memory serves me correctly.
But yeah, I cut mine in half as soon as I got a Visa. Then the bastards sent me a check to use if I wanted. Which I thought was kind of a sleazy move.
[QUOTE=Harmonious Discord]
It wasn’t accepted many places when it came out. They were in with Sears at first, and Sears refused to take any Master Card at that time to get you to get the Discover Card. That policy made me say screw Sears and Discover for pulling this heavy handed crap. Discover also had less favorable terms, so why choose it over a Master Card?
[/QUOTE]
Sears actually owned Discover,at first.
In yet another knuckleheaded American business move, Sears tied to shrink its way down to profitability. Selling Discover stanched the red ink flow for a few months.
Actually, they shrunk themselves down to the point of becoming the ultimate Blue Light special. They were gobbled up by another sinking ship–KMart.
Discover has become quite profitable since people who don’t have a handy Sears, who lack one altogether, or would rarely shop in one stopped thinking of Discover as “the Sears credit card under a different name”.