Discover is a brand of credit card operated by Discover Bank , a subsidiary of Morgan Stanley. It was originally issued by Sears and later spun off into a separate company, which was acquired by the Dean Witter financial services firm. It became a part of Morgan Stanley when that firm bought Dean Witter Discover in 1997.
In early 2005, Discover bought Pulse, an EFT association. This purchase will allow it to issue and market debit and ATM cards.
In 2005, Discover made its first deal to have its card issued by another bank (GE Consumer Finance will issue the Discover/Wal-Mart card and manage it on the Discover Card network).
In March 2005, Morgan Stanley announced that it was planning to sell off their Discover card business.
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Last updated: 10-26-2005 03:00:35
