Discover targets small businesses with 'it' rewards card
Discover Financial Services has launched a version of the Discover "it" card for entrepreneurs whose rewards and features compete more directly with small-business cards offered by Amex and Chase.
The Discover "it" Business credit card helps entrepreneurs more easily separate their personal and business expenses by downloading selected transactions directly to QuickBooks, Quicken or Excel, according to a recent press release.
Business owners may order additional cards for employees at no cost with all purchases on the account eligible to generate 1.5% cash back, Discover said in the release. The card has no annual or foreign transaction fees, plus the ability for customers to block transactions if fraud is suspected via Discover's Freeze it service.
“This is a feature-rich product designed to compete with Amex and other major national issuers,” said Ali Raza, CEO of Blue Leviathan, a payment consulting firm.
Discover launched the "it" card in 2013, initially targeting travelers and first-time credit card customers seeking more customized features than Discover’s traditional credit cards.