| Subsidiary | Jurisdiction of Incorporation or Formation |
| Bank of New Castle | Delaware |
| Diners Club International Ltd. | New York |
| Diners Club Services Private Limited | India |
| Discover Bank | Delaware |
| Discover Community Development Corporation | Delaware |
| Discover Financial Services (Canada), Inc. | Canada |
| Discover Financial Services (Hong Kong) Limited | Hong Kong |
| Discover Financial Services (UK) Limited | England/Wales |
| Discover Financial Services Insurance Agency, Inc. | Delaware |
| Discover Funding LLC | Delaware |
| Discover Global Employment Company Private Limited | Singapore |
| Discover Home Loans, Inc. | Delaware |
| Discover Information Technology (Shanghai) Limited | Shanghai |
| Discover Products Inc. | Utah |
| Discover Properties LLC | Delaware |
| Discover Services Corporation | Delaware |
| DFS Corporate Services LLC | Delaware |
| DFS Escrow, Inc. | Delaware |
| DFS GSD Corp. | Arizona |
| DFS International Inc. | Delaware |
| DFS Services LLC | Delaware |
| GTC Insurance Agency, Inc. | Delaware |
| HLC Settlement Services, Inc. | California |
| PULSE Network LLC | Delaware |
| The Student Loan Corporation | Delaware |
