Discover Bank Headquarters Information

Discover Bank is a bank that’s held by Discover Financial Services, Inc., a financial services company that’s based in Riverwoods, Il.

Discover Financial Services, Inc. is well known for issuing the Discover Card and also operating Pulse and Discover interbank networks.

The key facts about discover bank at the moment are:

• The bank is the 3^rd largest credit card brand in the United states in terms of cards in force
• The bank’s cards have almost 50 million subscribers
• The bank’s total assets by the end of 2016 were valued at $92.308 billion
• The bank was hiring 15,549 people as of 2017
• Discover Bank is the 6^th largest issuer of credit cards in the country in terms of card balances

History of Discover Bank

The first discover card was issued by Sears in 1985. The first purchase using a Discover card was by an employee of Sears from the Chicago area who made a purchase at an Atlanta Sears store.

The card would continue to be test marketed in San Diego and Atlanta in preparation for a nationwide rollout.

In 1986, the Discover card was launched nationally by Dean Witter Financial Services Group, Inc. The financial services company was a subsidiary of Sears, Roebuck and Co.

By 1989, the Discover Network was signing it’s 1 millionth merchant. This was Vicente’s Restaurant in Wilmington, Delaware.

In 1993, Dean Witter Financial Services Group, Inc. because a publicly traded company after successfully spinning off from Sears. It became known as Dean Witter, Discover & Co. and it traded under the ticker symbol DWD.

In 1995, the Discover Card went online as DiscoverCard.com was launched, giving users the ability to buy from online retailers.

In the same year, Discover Card Services, Inc. changed its name to Novus Services, Inc. so as to distinguish the Discover Card from the company’s network functions. It eventually became Discover Financial Services, Inc. in 1999.

In 1997, Dean Witter, Discover & Co. merged with Morgan Stanley Group, Inc. to form Morgan Stanley Dean Witter, Discover & Co.

One year later the Discover Platinum Card was introduced. In 2000, Discover Bank finally came a live as The Greenwood Trust Company, which had been acquired in 1985, changed its name to Discover Bank.

In the 2000s, Discover Financial Services would make two key acquisitions:

• Pulse Payments Network in 2005
• Diners Club International in 2008

In 2007, Discover Financial Services spun off from its parent company and start to trade in the NYSE as DFS.

Headquarters of Discover Financial Services

Presently, the headquarters of DFS are located at 2500 Lake Cook Road in Riverwoods, IL. This office building has more than 600,000 square feet of space inside.

The building is located in the village of Riverwoods and it sits on a 24.7-acre lot.

DFS Operations

Discover Financial Services is mainly in the business of credit cards and interbank networks. However, it also offers traditional banking services such as:

• Checking accounts
• Savings accounts
• Money market accounts etc.

These are availed through its subsidiary, Discover Bank.

Discover Bank Headquarters Address

2500 Lake Cook Rd, Riverwoods, IL 60015, USA

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