Why does GE Money issue the Discover Card for Sam's Club?

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Mogul of Pineapples
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Why does GE Money issue the Discover Card for Sam's Club?

Postby Mogul of Pineapples » Thu Sep 03, 2009 4:49 pm

I was a bit perplexed to find out that Discover doesn't even issue their own card - the Sam's Club card. It turns out the GE Money is who issues it even though it has the Discover emblem on it. I suppose that means they must use Discover's payment processing networks only?

O.T. As you may remember a few months back GE Money was begging for someone to buy their store credit card division. It seems like Sam's Club would be a gem to have but apparently not.
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Cucumber
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Postby Cucumber » Tue Sep 22, 2009 3:47 am

no clue, that's a good question. anyone here know?
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fffresh
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Postby fffresh » Wed Oct 07, 2009 3:56 pm

Discover's payment processing arm is a big business. Many assume they make money off loans like the other banks but because they also get a couple percentage points off the purchase price it's very lucrative. That's guaranteed money in the bank unlike debt on a card which the customer may or may not end up paying.



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