Company Update (NYSE:DFS): Discover Financial Services Doubles Cash Rewards for New Discover it® Cardmembers after First Year

Discover Financial Services (NYSE:DFS) is stepping up with another cash rewards innovation. Starting today, Discover is extending an exclusive offer to new Discover it® cardmembers that doubles all of the cash rewards they’ve earned at the end of their first year for accounts that are open at the time of doubling. There are no limits on how much a cardmember can earn, and they can redeem in any amount, any time, and their rewards never expire.1

“This is a great way for new cardmembers to test drive Discover and experience the generous rewards and industry-recognized customer service,” said Ryan Scully, vice president of marketing. “These new cardmembers will also enjoy more-recent enhancements available to all of our customers.”

In addition to having no annual fee2 on its cards, Discover continues to offer benefits that help consumers protect themselves from fraud and view their FICO® Credit Score. In April, Discover introduced Freeze ItSM – an on/off switch that cardmembers access on their mobile app and online to prevent new purchases, cash advances and balance transfers in seconds if they misplace their card. Last year, Discover was the first major credit card to give cardmembers their FICO® Credit Scores for free on monthly statements and online.3

“Discover has a rich history of giving rewards to cardmembers in a way that offers real value,” Scully said. “Doubling cash back complements other recent innovations that customers genuinely want.” (Original Source)

Shares of Discover opened today at $58.34 and are currently trading down at $58.24. DFS has a 1-year high of $66.75 and a 1-year low of $54.02. The stock’s 50-day moving average is $58.87 and its 200-day moving average is $60.05.

On the ratings front, Discover has been the subject of a number of recent research reports. In a report issued on May 6, Bernstein Research analyst Kevin Pierre maintained a Hold rating on DFS. Separately, on May 5, Oppenheimer’s Ben Chittenden reiterated a Buy rating on the stock and has a price target of $77.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Kevin Pierre and Ben Chittenden have a total average return of 2.9% and -7.6% respectively. Pierre has a success rate of 85.7% and is ranked #2200 out of 3610 analysts, while Chittenden has a success rate of 42.4% and is ranked #3493.

Discover Financial Services is a direct banking and payment services company. The Company offers credit card loans, private student loans, personal loans, home equity loans and deposit products.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts