Market Overview

Discover Offers Free Service to Alert Cardmembers If Their Social Security Numbers Are Found on Risky Websites

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Starting today, Discover is offering a free service that monitors risky
websites known to illegally sell or trade personal data and alerts
Discover cardmembers if their Social Security numbers are found. In
addition, Discover will alert cardmembers if any new credit cards,
mortgages, car loans or other accounts are opened on their Experian®
credit report. These new alerts are aimed at helping Discover
cardmembers protect themselves from identity theft or fraud.

With this new offering, Discover is the only major credit card that lets
cardmembers activate both Social Security number alerts and new account
alerts for free1.

"Helping our cardmembers protect their personal information has always
been one of our highest priorities," said Julie Loeger, Discover's
executive vice president and chief marketing officer. "We're raising the
bar even higher by offering these new alerts for free to our
cardmembers. It's our way of looking out for our customers beyond just
their Discover accounts."

In the event that a cardmember's Social Security number is found on a
risky website or if a new account shows up on their Experian®
credit report—even if it's not a Discover account—the cardmember will
receive an email alert or optional text alert. The alerts are intended
to help cardmembers determine whether their identities may have been
compromised. Cardmembers can call to speak to one of Discover's 100%
U.S.-based customer service agents. If it appears that their identity is
at risk, Discover agents can walk them through the necessary steps to
help resolve the issue as quickly as possible.

"Knowing is the first step toward preventing or resolving identity theft
or fraud. That's why our new alerts are intended to make sure our
cardmembers are in the know when their identities might be at risk,"
Loeger added.

Identity fraud is on the rise in the U.S., increasing 16 percent last
year to reach a record 15.4 million victims2. What's more, 49
percent of U.S. consumers feel their personal information is less secure
than it was five years ago3.

Discover's new alerts are part of a wide range of security features
available to Discover cardmembers, including:

  • Freeze ItSM, which enables
    cardmembers to freeze their Discover card account in a matter of
    seconds to prevent new purchases if their card is lost or stolen
  • Monitoring of every Discover card purchase every day for every customer
  • $0 Fraud Liability Guarantee so cardmembers never have to worry about
    being responsible for unauthorized purchases on their Discover card

For more information about Discover's free Social Security number and
new account alerts, go to www.discover.com/freealerts.

About Discover

Discover Financial Services (NYSE:DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America's cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.

1Only Discover® as of June 2017. Discover Identity
Alerts are offered by Discover Bank at no cost, only available online,
and currently include the following services: (a) daily monitoring of
your Experian® credit report and an alert when a new account
is listed on your report; (b) daily monitoring of thousands of risky
websites known for revealing personal information and an alert if your
Social Security Number on is found on such a website. This information
is intended for, and only provided to, Primary credit cardmembers whose
accounts are open, in good standing and have an email address on file.
The Primary cardmember must agree online to receive identity alerts.
Identity alert services are based on Experian information and data which
may differ from information and data at other credit bureaus. Monitoring
your credit report does not impact your credit score. This benefit may
change or end in the future. Discover Bank is not a credit repair
organization as defined under federal or state law, including the Credit
Repair Organizations Act. See Frequently
Asked Questions
.

2Javelin Strategy and Research's 2017 Identity Fraud Study

3Pew Research Center's 2016 Americans and Cyber Security
Study

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