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David Nelms, The chief executive of Discover Financial Services, is facing new regulatory challenges and has struggled to grow the network business. But his efforts to be 'almost as good as MasterCard and Visa' seem to be working.
February 21
Competing on reality television shows has become a rite of passage for aspiring celebrity chefs. Now Discover Financial Services (DFS) is trying to follow their recipes for buzz.
The perpetual
As with other competitive cooking shows, the "Food Network Star" contestants usually have to shop for ingredients once an episode - and this season the camera has made sure to linger lovingly on the Discover cards they use to pay for their groceries. On the episode that aired Sunday, the credit card company also gave $10,000 to the contestant who made the most "fashionable" version of a classic dish (in the winner's case, a deconstructed beef stroganoff).
Discover is hardly the first company to take advantage of food-competition shows'
But the reality-TV sponsorship is somewhat unusual for Discover, which has been trying to promote its brand — and its acceptance — beyond its staid Midwestern roots in Riverwoods, Ill. In recent years the company has
Discover and the Food Network declined to comment on the sponsorship.
Discover is not the only credit card company to dabble in food-related reality TV sponsorships. JPMorgan Chase's (JPM) Chase Sapphire Preferred credit card is currently "presenting" Bravo's travel-cooking competition mashup
JPMorgan Chase is going all out with its commitment to the show, creating a special page on its website for "Around the World," and even — for the truly die-hard fans — selling its cardholders