Hurricane Matthew left devastation in its wake, and to help with the relief efforts Discover Financial Services has pledged up to $500,000 to the American Red Cross by creating a cardholders donation matching program.
How does it work? When cardholders donate to the American Red Cross using their Discover Card or donating their cash back bonus, Discover will match it. Right now Discover is also waving the transaction fees for all credit card donations made to the American Red Cross. Discover employees are also gearing up to help, and in keeping with this theme Discover is also matching employee contributions to the American Red Cross via their Employee Giving Program.
This initiative is seen as a way to get the help where it needs to go, as quickly as possible. “Hurricane Matthew has created an urgent need for assistance in Haiti, the Bahamas, and the U.S.,” said David Nelms, Chairman and CEO of Discover. “Our cardmembers and employees share a strong interest in supporting relief efforts and providing a means of doing so will help make their donations go further and assist more people.”
The Discover it Card
The new initiative to help out with Hurricane Mathew comes on the heels of three Discover Card’s taking spots on the Money Magazines Best Credit Card List for the Discover it Card, Discover it Miles Card and Discover it Secured Card. This is not Discover’s first time making the list; they have been on it for the last three years.
There are some good reasons why it is so popular. The Discover it card has no annual fee and offers 5% cash back on up to $1,500 per quarter in new bonus categories, which include everything from gas and restaurants to purchases made on Amazon. A full list of categories is available on the website. People earn 1% cash back on everything else. Also new members get an extra bonus – Discover will match all the cash back they rack up during their first year. The bonus is automatically calculated and given out at the end of their first year as a member.
Discover Financial Services is a payment and direct banking service, which was founded in 1986. The have a portfolio of credit cards as well as offering customers access to private student loans, checking and savings accounts, certificates of deposit, personal loans, and home equity loans.