Before the two companies can close the $35.3 billion merger, they must obtain approval from federal antitrust watchdogs who have challenged other recent deals.
Discover Card used to be owned by Sears Roebuck Co… Back in the olden days, Discover Card was a product for consumers looking to continue building their credit history.
It was relatively easy to get a low-limit Sears store credit card with no credit history whatsoever. After using the Sears store card for 6 months to a year, Sears would offer the Discover Card as a general-purpose credit card. Discover was an attractive financial vehicle as it offered path of least resistance to establish a credit history.
Sears was as ubiquitous a retailer as Amazon is today. Sears credit and Discover offered an unmatched level of purchasing power for the new consumer.
Sears sold off Discover to a third party shortly before they sold themselves to the same company that bought K-Mart. Sears c-suite leadership did not pivot into online sales fast enough and Amazon crowded them out of the future.
Source: I worked for Sears back when most of you were itching your daddy’s pants. I signed up many, many folks for Sears cards and I got $5 each time. Now get off my lawn, my knees hurt.
Discover Card used to be owned by Sears Roebuck Co… Back in the olden days, Discover Card was a product for consumers looking to continue building their credit history.
It was relatively easy to get a low-limit Sears store credit card with no credit history whatsoever. After using the Sears store card for 6 months to a year, Sears would offer the Discover Card as a general-purpose credit card. Discover was an attractive financial vehicle as it offered path of least resistance to establish a credit history.
Sears was as ubiquitous a retailer as Amazon is today. Sears credit and Discover offered an unmatched level of purchasing power for the new consumer.
Sears sold off Discover to a third party shortly before they sold themselves to the same company that bought K-Mart. Sears c-suite leadership did not pivot into online sales fast enough and Amazon crowded them out of the future.
Source: I worked for Sears back when most of you were itching your daddy’s pants. I signed up many, many folks for Sears cards and I got $5 each time. Now get off my lawn, my knees hurt.