Credit Cards: Middle of the Wallet

Middle of the Wallet

Does America need a new credit card? Sears thinks so. The nation's largest retailer will soon test-market its Discover credit card, which will compete against American Express and Visa. Sears will try out its orange-and-black piece of plastic this fall in Atlanta. The card will be accepted by Denny's restaurants, Hospital Corp. of America, American Airlines and Budget Rent a Car, as well as Sears stores. Holiday Inns is reportedly expected to sign on too.

Cardholders will soon be able to use the Discover card to withdraw cash from company-owned automated tellers at store outlets. Sears also plans to give its...

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