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Commitment to Cardmembers’ Needs Keeps Discover on Top of Credit Card Category

(www.myCARDlab.com) - Discover Financial Services (NYSE: DFS) today announced that Discover® Card is ranked No. 1 in customer loyalty among leading credit card brands, according to the 2008 Brand Keys Customer Loyalty Engagement Index® report. Discover Card has won the credit card category in the index 11 years in a row.

Discover Card finished first in the credit card category in the annual survey from Brand Keys, Inc., the New York-based research consultancy that conducts a yearly study of brands which generate the highest customer loyalty.

“Brand Keys’ recognition of Discover Card again this year is a testament to the efforts of our cardmember services representatives who are passionate about satisfying our customers through high-quality service,” said Carlos Minetti, executive vice president of Cardmember Services. “Discover Card dedicates significant resources to keep our products and services in line with the changing needs of our cardholders.”

Discover Card ranked ahead of Capital One®, Visa®, American Express® and MasterCard®. Brand Keys’ interview methodology with customers of the brands is a combination of proprietary psychological assessments and higher-level statistical analyses. Brand Keys assembles a statistical combination of emotional values with the rational attributes that identify the bond between a brand and consumers.

“These are exceptionally revealing measures, said Robert Passikoff, Brand Keys founder and president. “At a time when most brands are struggling to differentiate from their competition and engage their customers in order to remain profitable, these rankings serve as both an opportunity and warning. It will be the brands that answer this warning with a truly consumer-centric view of their category, based on predictive loyalty metrics, that stand to gain the most, and establish themselves as 21st century brands and not commodities.”

Brand Keys identifies the four most important drivers of brand loyalty in the credit card category as Rewards and Services; Fees and Flexibility; Ease and Speed of Interactions; and Protection and Precision.

“Sustained cardholder loyalty is a direct reflection of Discover Card’s progress over the years of building on its already powerful cash rewards programs, on-line account management, customer service and fraud protection,” said Margo Georgiadis, executive vice president and chief marketing officer. “We’re committed to offering products and tools that make consumers more savvy when it comes to staying in control of their finances.”

In the past six months, Discover Card has launched the following tools to help cardmembers and consumers stay on top of their financial situations:
A Guide to Using Credit Wisely, an online resource designed to help consumers understand the basics of credit management. Whether they’re opening their first credit card accounts, trying to improve credit scores, or protecting against fraud and identity theft, the guide offers useful advice. Visit www.discoverfinancial.com.
Discover EDGE, a Web site that provides consumers with everyday financial advice to help them get ahead - and stay there. Content is written by an independent team of experts, led by nationally-syndicated columnist and best-selling author Ilyce Glink. Visit www.discovercard.com/edge.
Paydown Planner, a calculator that gives cardmembers the personal information they need to help pay down their balances. Cardmembers can start by entering a monthly payment and see the approximate time period it will take them to reach their pay-down goal; or they can start with a target date and see an estimate of how much they will need to pay each month to reach that goal. Visit the Account Center at www.discovercard.com.
Purchase Planner, a calculator that helps cardmembers understand how a purchase could affect their monthly payment and plans to pay down their balances. Like the Paydown Planner, cardmembers have the option to either enter the total purchase price and receive an approximate monthly payment amount needed to pay off the entire balance; or enter the preferred monthly payment amount and receive an estimate of how much they can spend on a new purchase. Visit the Account Center at www.discovercard.com.
Credit ScoreTracker, a tool that helps cardmembers understand and monitor their credit scores to make better financial decisions. Cardmembers can receive timely e-mail reminders that help them keep track of their spending, make payments on time, and stay safely within their credit line. Visit www.discovercard.com/protection-solutions.

About the Brand Keys Customer Loyalty Engagement Index

The Brand Keys Customer Loyalty Engagement Index® is an annual syndicated study — initiated in 1997 — that currently examines customers’ relationships with 382 brands in 57 categories. The Brand Keys data paints a detailed picture of the category drivers that engage customers, engender loyalty and drive real profits. These drivers not only define how the consumer will view the category, compare offerings, and, ultimately, buy, but also identify the expectations consumer hold for each driver. The brand whose drivers come closest to meeting (or even exceeding) those of the category Ideal is always the one whose customers will demonstrate the highest levels of engagement and loyalty over the next 12 to 18 months. For information, visit www.brandkeys.com.

About Discover Financial Services

Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America’s cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation’s leading ATM/debit networks. For more information, visit www.discoverfinancial.com.

Contacts

Discover Financial Services
Jon Drummond
Corporate Public Relations
224-405-1888