Thread: Discover Debit Card does anyone have one?

This is one thing I dont know much about is the Discover Debit card. I do know a lot about other types off debit cards.

I do know this much
Discover debit card can be used as pin or signature transaction.
You can get cash back with pin using the pulse network
What is usually you can at certain merchants you can get cash back using a signature transaction on the discover card network.

All methods coming out of your checking account.

Why has this card not become popular or gain more markets?

As far as I know there is not a Discover debit card so this must be new. I don't know of an American Express debit card either.

Debt/ATM cards work off of different payment networks so it would be a hard sector to break into even for them.

Originally Posted by fffresh

As far as I know there is not a Discover debit card so this must be new. I don't know of an American Express debit card either.

Debt/ATM cards work off of different payment networks so it would be a hard sector to break into even for them.

They dont have an American Express Debit Card either to my knowedge.

Sorry for the long post.

Actually it depends on what you consider a debit card

I am in the U.S.

In the U.S.

1. We have a restricted atm cards. This only works at your banks atm
2. We have an atm cards that will work at just atms (However, this card is becoming obsolete)
3. We have an atm cards that will work at atms and merchants.
4. We have debit cards that will work at atms and merchants and has a MasterCard or Visa logo


Number 1,2,3 can be assigned to either a checking or savings account.
Number 3 can be assigned to an unlimited checking account.
Number 4 is usually assigned to an unlimited checking account.

Numbers 1,2, and 3 can be only used as a pin transaction.
Number 4 can work as a pin or signature transaction either method will come of your checking account.


Discover Card debit card would be equal to Number 4.

Using a pin you can get cash back at particpating merchants like the other debit/atm card can.

What is new at some merchants you can get cash back, when the card is run as signature transaction (Through the discover card network) at participating merchants you can get cash back.

I was surprised it has not caught on. They started their discover debit card program in 2006 only in a few cities. After that I never heard much about it or if they dropped it. They still have their website

discover


They may be focusing more on the pulse network and lets bank choose what logo or credit card network they want to use for their debit card.


Here is their statement

As of February 2006, the company announced that it would begin offering Discover Debit cards to banks, made possible by the Pulse payment system, which Discover acquired in 2005

This is the only pic I could find is
http://www.securecashnetwork.com/ima...tdebitgold.gif

However, I wouldn't trust that place.

Update
I did find a Bank the does rewards for both debit signature and pin transaction. Do not know how good or bad the banks is. I don't live in Texas.

Austin Bank launches new debit card program

I would stay away from the KeyBank debit cards. I used KeyBank for years when I lived in that part of the country. Their fees were outrageous and erroneous and the restrictions on the accounts were absurd. Unless they have improved I would imagine they still run this same operation.

An update regarding Key Bank:

I stumbled across a rewards debit card they offer called they Key Miles Debit card. It offer 1 miles for every $2 spent when signing your name which is not bad. But it offers only 1 miles for every $6 spent when using your PIN. It also carries an annual fee and the miles can only be used on Continental Airlines.

I suppose this is better than nothing but it doesn't come close to matching the rewards on credit cards. But as mentioned I won't consider a Key Bank product.

American Express does have what they call an ATM/Debit card that is offered through Fidelity Investments mySmart Cash Account (https://scs.fidelity.com/accounts/se...ect.shtml.cvsr). This may be what debitcard guru calls a #3 (We have an atm cards that will work at atms and merchants), assigned to an unlimited checking account (Fidelity works checking accounts through United Missouri Bank) and that only work with a PIN rather than by signature. The PIN feature may limit the card to grocery stores and gas stations. Not sure if it could be used at Sit Down or Fast Food restaurants. Also not sure if you can buy things online with such a card.

They do talk about earning a 2% reward for your purchases (Fidelity Investments )

Has anyone out there used this guy?

Originally Posted by mhollisco

American Express does have what they call an ATM/Debit card that is offered through Fidelity Investments mySmart Cash Account (https://scs.fidelity.com/accounts/se...ect.shtml.cvsr). This may be what debitcard guru calls a #3 (We have an atm cards that will work at atms and merchants), assigned to an unlimited checking account (Fidelity works checking accounts through United Missouri Bank) and that only work with a PIN rather than by signature. The PIN feature may limit the card to grocery stores and gas stations. Not sure if it could be used at Sit Down or Fast Food restaurants. Also not sure if you can buy things online with such a card.

They do talk about earning a 2% reward for your purchases (Fidelity Investments )

Has anyone out there used this guy?

Correction to my comment from yesterday. I've been researching a bit more. It looks like the American Express card is a credit card that Fidelity offers (rather than a debit card). There is a 2% reward for purchases that can be directed to a Fidelity account.

Fidelity does offer a Visa debit card (Fidelity Investments: Site Search). There are no rewards, but it claims to be able to be used for purchases "wherever VISA is accepted".