Pros: a little cash back
Cons: Often not accepted. Aggressive mail and telemarketing campaigns target cardholders.
I ended up cutting my Discover card in little pieces.
Thought the cash back would be great. But it was so much less than I thought! Then the telemarketers and junk mailers descended on me like flies. I asked Discover to please take me off all marketing lists. They responded that they would try to take me off THEIR lists, but that they could not guarantee I would be taken off the lists that they sell to OTHERS.
Acceptance is another problem. I encountered many merchants who do not accept this card, including my own small business. The reason? The business must PAY Discover an up-front fee in order to accept the card.. after which Discover still charges a percentage like the others. My business, and apparently many others, wonder why we should pay the fee? If Discover were concerned about broadening their acceptance, they would charge zero setup fee, like M/C, Visa, and AX.
I see no sufficient incentive to use Discover, either as a cardholder or as a business.