Discover stakes its claim in small business credit card sector
By Jeremy M. Simon | Published: May 1, 2007
PRESS RELEASE: With the small business credit card sector representing the fastest-growing area of the wider commercial credit card market, Discover recently decided to enter the small business card arena.
The Discover Small Business Card introduced in the summer of 2006 stepped up the challenge with small business cash rebates of up to 5 percent on office supplies, as well as 2 percent on gas and up to 1 percent on other card purchases.
The director of Discover business cards explained that the small business card was created in response to requests from Discover card customers who owned small businesses, combined with Discover's conclusion that existing credit cards were not fully meeting the specific needs of small businesses.
He noted that as a result of Discover's year of market research ahead of launching the small business card, the Cashback Bonus purchasing rebates program was designed to yield maximum rewards on small businesses' largest expenditures -- office supplies and gas. Additionally, Discover opted to forgo a limit or expiration on cashback earnings.
The Discover Small Business Card also features the ability to download card statements to QuickBooks, fee-free purchase checks with an identical float to the credit card, the power to change the credit card limits for individual employees in real time and primary protection on car rentals.
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