Diners Club was a bargain for Discover

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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Cucumber
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Diners Club was a bargain for Discover

Postby Cucumber » Sun Apr 12, 2009 3:10 am

On Thurs Discover came out with their quarterly report. They say that they did 35 billion in transaction volume during that time and over 6 billion of that was from Diners Club alone.

Discover paid something like $150 to $175 mil (don't remember exact number) for Diners Club from Citi. I know they only purchase the payment network Diners Club uses but still that must be making waaay more money than the price they paid for it. How did they get it so cheap??! :eek:
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Mogul of Pineapples
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Diners Club Discover

Postby Mogul of Pineapples » Tue Apr 14, 2009 2:47 am

Yes but keep in mind they didn't buy Diners Club; they only purchased ownership of the transaction network, and that being said, I don't even think they have every country as part of that.

There is definitely potential for Diners Club International and the USA divisions to increase revenue majorly. Others on here have mentioned they should go back to their roots and as the name implies, start a credit card that gives a discount at restaurants. I think that's a great idea and that may be the only way they can make a comeback in the United States.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Cucumber
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Postby Cucumber » Thu Apr 23, 2009 4:22 am

Diners Club is still huge in some Latin American countries and some in Europe. I wonder if that will last??
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