Discover vs Visa
Discover and Visa are credit cards that have been widely accepted around the world. Visa is the largest used credit card in the world whereas Discover is placed in the fourth place.
Discover credit cards were launched in 1985. It was Sears that issued Discover cards for the first time. Later the Discover cards became part of of Dean Witter financial services. After this in 1997, the Dean Witter Discover merged with Morgan Stanley and this continued till 2007. Now Discover Financial Services that brings out the cards is an independent firm. When Discover cards were launched, it was one of the few cards that did not levy an annual fee. The U S Customs Service has now accepted Discover cards exclusively for payment of duties.
Visa cards have its origins as a BankAmericard in 1958. Visa was part of Bank of America till 1970. After that, it became an independent firm and it was in 1976 that the company adopted the name Visa. Visa has evolved into a transaction and a technology-processing firm and allowed other financial services and banks to issue cards with its brand logo.
One of the main differences between Discover and Visa cards is in the cash back programmes. Unlike Visa cards, Discover cards have a more generous cash back programme. Discover provides a larger credit line than Visa.
When coming to flexibility, Visa is more flexible than Discover. Visa cards are accepted in more countries than the Discover cards. Many businesses have not accepted Discover, which has made it inconvenient. Moreover, Visa offers a wider range of rewards and programmes.
In terms of fees and interest rates, both Visa and Discover are almost similar.
Summary
1. Visa is the largest used credit card in the world. Discover is placed in the fourth place.
2. Discover credit cards were launched in 1985. It was Sears that issued discover cards for the first time. It later changed hands and now is an independent firm. Visa cards have its origins as a BankAmericard in 1958. Visa was part of Bank of America till 1970 and after that became an independent firm.
3. Unlike Visa cards, Discover cards have a more generous cash back programme. Discover provides a larger credit line than Visa.
4. Visa is more flexible than Discover.
5. Visa cards are accepted in more countries than the Discover cards.
6. Visa offers a wider range of rewards and programmes than the Discover cards.