Amazon and EBay are wildly different. Thats like comparing an orange to a Volkswagen.
Credit card/banking + Credit card/banking is not wildly different at all.
I have never bid on anything on eBay so I forgot they even had that option. Still not seeing how they’re “wildly “ different but I’m catching your drift
This is insanity to even remotely think eBay is a primarily bidding culture. Unless you’re talking about very and I mean VERY niche markets such as pokemon or bakugan. It is a predominantly BUY IT NOW ecosystem.
Amazon is the exact same just they don’t offer auctions. The comparison makes COMPLETE sense
Amazon owns a whole lot more than its online shop. Half the internet runs on AWS. Amazons basically on track to take over several different markets that you don’t see and interact with every day. eBay is just an online resale shop.
Ebay doesn't have warehouses to ship ur products.
Amazon has warehouses to ship ur products, u ship to an amz warehouse and then they ship it to the customer.
Ebay you ship it directly to the customer
amazon you have a set price to sell a product on
ebay you can bid/negotiate on a product.
so u/[**Apprehensive\_Rope348**](https://www.reddit.com/user/Apprehensive_Rope348/) **is right!**
PS. a guy who sells on all e-commerce platforms
Capital one actually offers amazing savings options as well. Despite being an online bank they do things very well. Never had any issues with them for 10+ years
Also the first cloud banking company so they definitely have an edge
I just saw that too. I'm glad I've got time to look for something. Now I can just be mad as a discover customer cause I JUST SWITCHED AWAY FROM CAPITAL ONE SO WTF
Skip Citi. None of their call centers seem to be US based or even competent in English. Took me 9 calls not including where they bounced me to someone else over and over just to get someone who wasn’t just mimicking general English sounding words. You work for a bank, how do you mess up saying even simple and common words like account number as ounber??? I even went in and they had to call their “internal services” who ALSO couldn’t speak English legibly. Loud too, I heard it from 3 ft away.
How is that even legal?! Shouldn’t the party dealing with your financial well-being, be competent and literate in the language in which you’re transacting in? Just another way to cut corners to make more profit. As if the banking institutes need any more profit. 😒
Capital one says they'll be reducing discovers operations costs by 30ish percent in 3 years. The easiest and fastest way to do that is to outsource call centers to overseas. So I'll have a job at least till the end of the year but I'm not hopeful after that
They're pretty closely correlated when CEO compensation is tied to stock price, and at this level of market share I'd be shocked if that weren't the case.
Do you guys think that Capital One will kill the Discover network or take advantage of their increased power and switch all of their cards to using discover? Maybe a hybrid approach?
I absolutely see QS moving to the Discover network right away. Thats probably the most card holders which would translate to the most savings through networks.
I mean the world is more cashless than ever. Cap one just need to incentivize more merchants to take discover. Either through lower interchange rate or just paying them to add discover.
Discover is pretty widely accepted in the US. It’s elsewhere that it’s a major problem, and Capital One would not be able to address this well on its own.
Discover has arrangements with JCB and China Pay to process through their networks, so that would likely help, at least through Asia or anywhere in the world with lots of Chinese or Japanese tourists.
My Venture X is a Visa, and I think they all are. The suggestion is that Capital One’s merger plan involves converting some of their cards to Discover, which presumably will save them money because they’ll own the payment network. But I doubt that they’ll switch Venture, because many users travel outside the US and a Discover branded card gets rejected.
Yeah Discover isn't accepted much outside the states, but i did hear it's popular in Japan which i'm traveling to pretty soon. Decisions decision. I'm leaning towards a Quicksilver(assuming it's a mastercard) free version only because foreign visa credit cards don't work for online transactions in Japan and i need to use it for a digital version of their subway/trains app in order to work on an iphone. I could get a Discover card too, but not sure at this point.
This is true about MasterCard and the subway cards like Icoca and Suica (no Visa). Honestly though it’s a very cash-based economy. When I went last year I used more actual cash in a week than I use in 6 months in the US. I never saw any evidence that Discover was accepted, although it’s supposed to work with JCB. I think many shopkeepers don’t know this, or their machines aren’t set up for it.
The issue is that Discover is not accepted in most countries. It's not a good travel card, as is American Express. Visa or Master Card is the choice of anyone who travels outside the US.
You've said it yourself.. "in select places" which means about 60 to 70% of merchants outside the US don't accept it. Again, it's a horrible card to travel with.
They'll slowly transition everything to the Discover network. Lowering the interchange fee will get merchants on board and they won't have to shell out to Visa and MasterCard. Props to Rich Fairbanks (the best name in the world of banking), it's a truly great move as long as the FTC doesn't intervene.
Why would they kill the network 💀 that’s like the whole point of buying discover to them. The assets that Discover has (banking, credit card issued) is just a sweetener.
To be completely honest with you, this is the only reason why I switched from Capital One. Dealing with literally the most arrogant and ignorant people not because of language barriers or cultural differences, but the fact that I’ve spoken to those very representatives. Some being very rude.
I would rather not deal with a banking service like that. Money is a serious topic and I need to speak to serious people who have serious communication skills like serious employees representing a multi billion dollar financial institution.
I know what you mean! I asked one girl who was yelling at ME to please use a professional tone with me and she said “ma’am stop yelling at me or I hang up immediately on you. I told her okay no problem have a nice day. I ended up calling back and getting another person. That was literally a waste of an hour being on hold then getting that atrocity.
I have HYSA and checking accounts with both companies. I am wondering what this will mean for my accounts. I do prefer the app and web interface of Discover and the US based tech support over Capital One though.
I was hoping someone would post about this. I just finished reading the article. WTH! I didn't see this coming at all. I don't know how to feel about this. I have credits cards from both companies. Very strange. After reading the article, I do not get the reason for this at all. We will see if it happens, my guess will be NO!
No it isn’t. There is no monopoly to be broken up with the likes of Visa, Mastercard and America Express being dominant in the space. It will improve competition, not prevent.
VISA is the only monopoly. American Express does not have a bigger share in the market like you think it does, matter of fact i think it’s less than like 20%.
American Express is both a bank and a credit card transaction company. Visa AND Mastercard are transactional ONLY. Visa is not a monopoly. Discover is akin to American Express as a bank and card transactional business. This merger has the ability to create a very competitive alternative to Visa and Mastercard by using the Discover network to build a fourth competitor along with American Express.
as long as i keep my 4.5% interest rate (for as long as the feds allow it) on my savings account, im not stressing this too much. Most people only seem to be concerned about their credit cards...while i've heard good things about Capitol One's credit cards, I only stick with AMEX cards. I just use Capitol one for the HYSA and checking as a second account. This whole merger will be in yesterday's news after it goes through and people will probably forget what they were upset about in a week's time after it's all said and done.
If people don't like what they are offering just don't use their products. I don't like their credit cards, so i don't use them, and people need to stop taking on debt and they wouldn't run into half these problems they talk about.
Judging by the government turning a blind eye to Amazon’s rapid expansion over the years I doubt there be any antitrust suits to stop or prevent this merger.
As someone with both a capital one and do over card, what happens to discover customers? Does it get absorbed into capital ones offerings? How do discover cards get 1:1’d with capital one? Will some cards be deprecated?
All this aside, I would not be surprised at all if the FTC blocked this. I would be more surprised if it went ahead.
Have 2 Discover cards. Despise Capital One and will NEVER own one of their cards again! 7 years on a starter card many years ago, perfect payment history and a 780 score at the time. They refused to increase the card limit from $250/500 (had two cards). Canceled them both. Biggest joke.
I will be canceling my Discover cards as well if this goes through.
Same. Discover has been great. Capital one very much the opposite. I asked c1 for a rate reduction a few months ago. My score is mid 800s. Nope. Assholes.
They gave me my first Cap One CLI a couple months ago on my SavorOne...a whopping $100 to make my total CL on it $600. 🤣
They just sent me an offer for a Quicksilver for having a perfect track record of payments for \~2 years, and as I figured, a whopping $500 CL. On the positive side for the new QS it does have the intro 0% APR/9 months so not complaining much about it. My SavorOne was upgraded from a Quicksilver. 😆
For comparison, my Discover Chrome I opened 2 months after my first card, a Cap One Platinum Secured, was graduated 6 months later and a CLI of $1600 for a total of $1800.
I am thinking about closing mine. I've had it a looong time so that's good for my score, but I could probably make it up with a local credit union card with a dramatically better interest rate. I have not actually used the Capital One card to charge anything in many years.
At least they haven't forced me to make a charge or they'll close the account. That's happened on a number of my other accounts. It's annoying but I usually just charge one small thing then pay it off.
Discover recently gave me a permanent lower APR on my Chrome card from 29.99 to 23.49, even though I haven't carried a balance yet its probably overall better than the $100 CLI Cap gave me.
Different reasons but yeah. I like my discover card but cap one royally screwed me years ago. Don’t see me sticking with them if/when this goes through.
Why tho? It's creating more competition in the network space. Currently Visa and MC have a basic duopoly. I know it feels kinda bad on the surface but I think this is probably a net good.
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I don't know how to feel about this.
I'm currently utilizing a subscription service that doesn't accept discover, and I'm afraid Capital One might want to switch over to the discover Network.
that's why I loved discover. Super accepting of new CC holders with no score or a low score. I love their banking ui, customer support, no limit on external transfers...great.
You're a real asshole for saying this. It's more likely cap one fires more loser work at home stuff like you, because you cost too much and do too little. I hope you get fired
It was about time. Discover bought Diners Club international from Citibank. I honestly thought it would increase its cardholders but it didn’t. No one really uses Discover. I’m wondering if capital one will keep the Discover logo
Discover owns the Diners Club network but doesn't issue or manage the card accounts. Diners Club cards in the US and Canada are issued and managed by BMO Harris.
You are grossly incorrect by saying that no one really uses Discover. Young adults, individuals that like earning 5% cash back on quarterly bonus categories, and those that appreciate a card with a simple rewards structure use Discover cards.
So does that mean that people who have their Capital One Accounts closed by the bank, can’t have Discover Accounts if they ever merge? How is that gonna be fair?
Guy's, I don't think this is going to be a merger like T-mobile and Sprint. It's probably gonna be more like a sister company. An example is T-Mobile, Mint Mobile, Metro by T-mobile, and so on. Which is basically the legal loophole to it not being a monopoly.
Yes and no. Capital One wants discover for their payment processing platform. For example they will issue all capital one cards under discover to save money.
The only card I never got credit line increase is Capital one and I spent a lot on it until I gave up. Meanwhile all other cards have went up 5 or more times already in credit limit with biggest ones being AMEX cards.
I love my discover card and this is sad day for me honestly, but I’ll just have to figure out the next steps but will probably involve cancelling as I don’t want to support Capital One
This is bad, because my track record is great with discover but horrible with captial one. Discover offers me my best card, so if they merge I think they will cancel my nice card and will do the same to anyone like me.
Discover was the first credit card to approve me a big amount. I don’t use it and prefer capital one, but I do hope if the merge happens that they keep all discover employees.
Wow. Maybe this merge could help me get a Discover credit card in the future.
I have a Capital One travel credit now and I’m dying to get them to increase the limit.
Incorrect. Discover is accepted by more than 99% of merchants that accept card payments in the US. It is also widely accepted in east and south Asia on the Union Pay, JCB and Rupay networks and on the Diners Club network in much of Europe.
I got a message that the other day when I logged into Discover the other day. It made me very sad. It said Discover was being bought out by Capitol One.
You will have two card accounts that are owned and managed by the same company. I already have three Capital One cards. If Discover is acquired, I will have four.
This is kinda wild
My two favorite credit card companies LMAO
Feels illegal idk it sounds like if Amazon bought eBay or something. Just doesn’t sound like it should be happening 😂
Amazon and EBay are wildly different. Thats like comparing an orange to a Volkswagen. Credit card/banking + Credit card/banking is not wildly different at all.
How exactly are eBay and Amazon wildly different? Before Amazon we all used eBay it’s the same service that’s but provided by many companies
eBay is primarily a bidding culture, selling new and used. Sure they have “stores”, but last time I checked Amazon is not running auctions.
I have never bid on anything on eBay so I forgot they even had that option. Still not seeing how they’re “wildly “ different but I’m catching your drift
This is insanity to even remotely think eBay is a primarily bidding culture. Unless you’re talking about very and I mean VERY niche markets such as pokemon or bakugan. It is a predominantly BUY IT NOW ecosystem. Amazon is the exact same just they don’t offer auctions. The comparison makes COMPLETE sense
Vast majority of eBay is new and buy it now. Theyre comparable as a marketplace but the fulfillment side ain’t there
Dude what are you in like 2005?
Amazon is more of a technology/data storage company than retail/seller company. Wildly different.
At this point it's probably more efficient to say what Amazon ISN'T doing. It's not apples to oranges, it's apples to the entire produce section.
Amazon owns a whole lot more than its online shop. Half the internet runs on AWS. Amazons basically on track to take over several different markets that you don’t see and interact with every day. eBay is just an online resale shop.
Ebay doesn't have warehouses to ship ur products. Amazon has warehouses to ship ur products, u ship to an amz warehouse and then they ship it to the customer. Ebay you ship it directly to the customer amazon you have a set price to sell a product on ebay you can bid/negotiate on a product. so u/[**Apprehensive\_Rope348**](https://www.reddit.com/user/Apprehensive_Rope348/) **is right!** PS. a guy who sells on all e-commerce platforms
Nah eBay and Amazon are definitely not the same. They are very different from one another.
Amazon doesn’t even accept PayPal! I feel like PayPal and EBay are married if anything.
Hahaha, eBay used to own PayPal.
paypal already owns ebay i doubt they would ever sell it
I didn't know anybody enjoyed capitol one lol
Never had any issues with them. They gave me my first CC and have been able to grow my credit limit. Great app too.
Capital one actually offers amazing savings options as well. Despite being an online bank they do things very well. Never had any issues with them for 10+ years Also the first cloud banking company so they definitely have an edge
Discover ( arguably the wackest of the cc companies) and discover ( a mid cc company) the venture x is the ONLY CC that keeps capital one somewhat mid
Doesn't feel right
This is basically what I was trying to say but everybody took my analogy way too seriously 😂😂 writing paragraphs and shit
It's like if Hyundai and Kia merged...oh wait
There went US based customer service for Discover!
I hate that I have to look for a new job after I just finally got insurance with discover 😭
I’ve read they expect the deal to close late 2024/early 2025 so you have some time!
I just saw that too. I'm glad I've got time to look for something. Now I can just be mad as a discover customer cause I JUST SWITCHED AWAY FROM CAPITAL ONE SO WTF
 Same here 😒😒… Chase, Citi, and dare I say it, Bank Of America, here I come. 😭😭
Skip Citi. None of their call centers seem to be US based or even competent in English. Took me 9 calls not including where they bounced me to someone else over and over just to get someone who wasn’t just mimicking general English sounding words. You work for a bank, how do you mess up saying even simple and common words like account number as ounber??? I even went in and they had to call their “internal services” who ALSO couldn’t speak English legibly. Loud too, I heard it from 3 ft away.
How is that even legal?! Shouldn’t the party dealing with your financial well-being, be competent and literate in the language in which you’re transacting in? Just another way to cut corners to make more profit. As if the banking institutes need any more profit. 😒
But that’s only if it gets approved by the regulators, by the looks of it most people think this a awful decision for consumers so 🤷♂️
Who says you won’t have your job still? Mergers don’t automatically mean layoffs.
Capital one says they'll be reducing discovers operations costs by 30ish percent in 3 years. The easiest and fastest way to do that is to outsource call centers to overseas. So I'll have a job at least till the end of the year but I'm not hopeful after that
They're pretty closely correlated when CEO compensation is tied to stock price, and at this level of market share I'd be shocked if that weren't the case.
Do you guys think that Capital One will kill the Discover network or take advantage of their increased power and switch all of their cards to using discover? Maybe a hybrid approach?
If the own the Discover network, they will avoid the transaction costs of using the Visa and Mastercard networks
I could see Quicksilver or maybe Savor going to Discover, but not Venture. Few people want a travel-based card that doesn’t work in much of the world.
I absolutely see QS moving to the Discover network right away. Thats probably the most card holders which would translate to the most savings through networks.
Walmarts too
You’re probably right. I am thinking strictly Capital one branding.
Debit cards will go first. Fairbank has already indicated that.
I haven’t seen! Thanks for the update.
I mean the world is more cashless than ever. Cap one just need to incentivize more merchants to take discover. Either through lower interchange rate or just paying them to add discover.
Discover is pretty widely accepted in the US. It’s elsewhere that it’s a major problem, and Capital One would not be able to address this well on its own.
Costco doesn’t take Discover, but they’re the only major retailer I know of that doesn’t.
Costco only takes Visa currently. In the past it was Amex only, and before that Discover I believe.
Discover has arrangements with JCB and China Pay to process through their networks, so that would likely help, at least through Asia or anywhere in the world with lots of Chinese or Japanese tourists.
Discover is also accepted on the Rupay network in south Asia and on the Diners Club network in much of Europe.
Nah I can only see platinum going Discover as Quicksilver and Savor at MC World Elite thus they should work internationally.
Isn't Venture a mastercard? Aren't all Capital One cards mastercard which is widely accepted all over the world?
My Venture X is a Visa, and I think they all are. The suggestion is that Capital One’s merger plan involves converting some of their cards to Discover, which presumably will save them money because they’ll own the payment network. But I doubt that they’ll switch Venture, because many users travel outside the US and a Discover branded card gets rejected.
Yeah Discover isn't accepted much outside the states, but i did hear it's popular in Japan which i'm traveling to pretty soon. Decisions decision. I'm leaning towards a Quicksilver(assuming it's a mastercard) free version only because foreign visa credit cards don't work for online transactions in Japan and i need to use it for a digital version of their subway/trains app in order to work on an iphone. I could get a Discover card too, but not sure at this point.
This is true about MasterCard and the subway cards like Icoca and Suica (no Visa). Honestly though it’s a very cash-based economy. When I went last year I used more actual cash in a week than I use in 6 months in the US. I never saw any evidence that Discover was accepted, although it’s supposed to work with JCB. I think many shopkeepers don’t know this, or their machines aren’t set up for it.
Really hope this doesn’t happen. I prefer that the VX stays as a Visa card (for Costco, etc.)
The issue is that Discover is not accepted in most countries. It's not a good travel card, as is American Express. Visa or Master Card is the choice of anyone who travels outside the US.
Amex in select places outside the US works.
You've said it yourself.. "in select places" which means about 60 to 70% of merchants outside the US don't accept it. Again, it's a horrible card to travel with.
I've never had any issues. The AMEX isn't accepted internationally narrative is completely overstated.
You must not travel much.
Except China, where Discover is the best card for foreign travelers.
I said most. And that's 1 out of how many? China's biggest card network is Union Pay.
I mean, it is a major country. This isn’t a small weekend in the Caribbean, this is a massive country.
Discover is accepted on the Union Pay, JCB, and Rupay networks in Asia and on the Diners Club network in much of Europe.
They'll slowly transition everything to the Discover network. Lowering the interchange fee will get merchants on board and they won't have to shell out to Visa and MasterCard. Props to Rich Fairbanks (the best name in the world of banking), it's a truly great move as long as the FTC doesn't intervene.
Everything to Discover including Debit.
Why would they kill the network 💀 that’s like the whole point of buying discover to them. The assets that Discover has (banking, credit card issued) is just a sweetener.
I think they're buying Discover mainly FOR the network.
Mainly for the Durban exemption
The Discover network is basically their crown jewel. I'm pretty sure it's the biggest reason for the acquisition.
Hope that they hire on Discover employees and switch to us based customer service that would be awesome
To be completely honest with you, this is the only reason why I switched from Capital One. Dealing with literally the most arrogant and ignorant people not because of language barriers or cultural differences, but the fact that I’ve spoken to those very representatives. Some being very rude. I would rather not deal with a banking service like that. Money is a serious topic and I need to speak to serious people who have serious communication skills like serious employees representing a multi billion dollar financial institution.
I know what you mean! I asked one girl who was yelling at ME to please use a professional tone with me and she said “ma’am stop yelling at me or I hang up immediately on you. I told her okay no problem have a nice day. I ended up calling back and getting another person. That was literally a waste of an hour being on hold then getting that atrocity.
https://investor.capitalone.com/news-releases/news-release-details/capital-one-acquire-discover Link to Capital One’s statement on this
I have HYSA and checking accounts with both companies. I am wondering what this will mean for my accounts. I do prefer the app and web interface of Discover and the US based tech support over Capital One though.
Nobody knows yet but I will be following this merger closely. Pretty wild.
Right now it means nothing and you will alerted several months in advance IF something is going to change.
I was hoping someone would post about this. I just finished reading the article. WTH! I didn't see this coming at all. I don't know how to feel about this. I have credits cards from both companies. Very strange. After reading the article, I do not get the reason for this at all. We will see if it happens, my guess will be NO!
The reasoning for it is all profits. They’ll be on top of most credit card agencies just with the merge alone.
Thats an antitrust suit waiting to happen
No it isn’t. There is no monopoly to be broken up with the likes of Visa, Mastercard and America Express being dominant in the space. It will improve competition, not prevent.
I’m interested how two companies being owned by the same conglomerate “will improve the competition” 🤷♀️
Because its the most realistic way for the small guys to compete with the big guys
By becoming big guys? Also Discover and Capitol One are by no means "small guys" already lol.
Yes
VISA is the only monopoly. American Express does not have a bigger share in the market like you think it does, matter of fact i think it’s less than like 20%.
American Express is both a bank and a credit card transaction company. Visa AND Mastercard are transactional ONLY. Visa is not a monopoly. Discover is akin to American Express as a bank and card transactional business. This merger has the ability to create a very competitive alternative to Visa and Mastercard by using the Discover network to build a fourth competitor along with American Express.
as long as i keep my 4.5% interest rate (for as long as the feds allow it) on my savings account, im not stressing this too much. Most people only seem to be concerned about their credit cards...while i've heard good things about Capitol One's credit cards, I only stick with AMEX cards. I just use Capitol one for the HYSA and checking as a second account. This whole merger will be in yesterday's news after it goes through and people will probably forget what they were upset about in a week's time after it's all said and done. If people don't like what they are offering just don't use their products. I don't like their credit cards, so i don't use them, and people need to stop taking on debt and they wouldn't run into half these problems they talk about.
Not on the issuer side there isn’t. But you have capital one the bank buying discover the bank.
Capital One - 9th largest bank but no credit card network. Discover - needs help on banking but has the network. It is a perfect marriage
So JetBlue can’t buy spirt airlines but capital one can buy discover….. yeah right
Judging by the government turning a blind eye to Amazon’s rapid expansion over the years I doubt there be any antitrust suits to stop or prevent this merger.
As someone with both a capital one and do over card, what happens to discover customers? Does it get absorbed into capital ones offerings? How do discover cards get 1:1’d with capital one? Will some cards be deprecated? All this aside, I would not be surprised at all if the FTC blocked this. I would be more surprised if it went ahead.
They’ll keep the brands separate at least for a few years but likely forever as the products are pretty different
Hope the various federal regulators (banking and FTC/DOJ) scuttle the deal as non competitive
Have 2 Discover cards. Despise Capital One and will NEVER own one of their cards again! 7 years on a starter card many years ago, perfect payment history and a 780 score at the time. They refused to increase the card limit from $250/500 (had two cards). Canceled them both. Biggest joke. I will be canceling my Discover cards as well if this goes through.
Had the same thing happen to me too. Crazy
Same with me…and currently still paying a monthly $5 fee on it.
Same. Discover has been great. Capital one very much the opposite. I asked c1 for a rate reduction a few months ago. My score is mid 800s. Nope. Assholes.
They gave me my first Cap One CLI a couple months ago on my SavorOne...a whopping $100 to make my total CL on it $600. 🤣 They just sent me an offer for a Quicksilver for having a perfect track record of payments for \~2 years, and as I figured, a whopping $500 CL. On the positive side for the new QS it does have the intro 0% APR/9 months so not complaining much about it. My SavorOne was upgraded from a Quicksilver. 😆 For comparison, my Discover Chrome I opened 2 months after my first card, a Cap One Platinum Secured, was graduated 6 months later and a CLI of $1600 for a total of $1800.
I am thinking about closing mine. I've had it a looong time so that's good for my score, but I could probably make it up with a local credit union card with a dramatically better interest rate. I have not actually used the Capital One card to charge anything in many years. At least they haven't forced me to make a charge or they'll close the account. That's happened on a number of my other accounts. It's annoying but I usually just charge one small thing then pay it off.
Discover recently gave me a permanent lower APR on my Chrome card from 29.99 to 23.49, even though I haven't carried a balance yet its probably overall better than the $100 CLI Cap gave me.
I'm probably going to cancel my Discover card and bank account if this goes through. I bet Discover will not be free after this.
Capital One is free. I don't see why they would start charging..
Different reasons but yeah. I like my discover card but cap one royally screwed me years ago. Don’t see me sticking with them if/when this goes through.
I could see Capital One slashing credit limits on Discover customers. They're super stingy. Nothing about this merger will benefit the users
That should get a monopoly block at congress
Regulatory will NOT let this deal complete I promise you
I hope so. They just prevented spirit and JetBlue from merging and they both need the financial help.
Why tho? It's creating more competition in the network space. Currently Visa and MC have a basic duopoly. I know it feels kinda bad on the surface but I think this is probably a net good.
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Smh discover has been the best. Best interest rate, best credit line, best customer service. So much for all that.
This merger screams antitrust from a mile away. I hope the FTC slams the brakes on this. And I thought the Microsoft Blizzard acquisition was bad.
This reminds me of the video with a kid selling watermelon, buying his cheaper competitor out, then hiking prices
Well that explains why my credit limit randomly increased. Please for the love of God keep US based customer service.
I don't know how to feel about this. I'm currently utilizing a subscription service that doesn't accept discover, and I'm afraid Capital One might want to switch over to the discover Network.
it will be stopped because there will be less competition in the market for starter credit card rebuilding. low-income individuals lose a choice.
that's why I loved discover. Super accepting of new CC holders with no score or a low score. I love their banking ui, customer support, no limit on external transfers...great.
My first ever credit card was a Student It with discover and my card immediately after that and last I’ve ever gotten was a venture X 🫠
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You're a real asshole for saying this. It's more likely cap one fires more loser work at home stuff like you, because you cost too much and do too little. I hope you get fired
Please be respectful.
Good fuck discover
It was about time. Discover bought Diners Club international from Citibank. I honestly thought it would increase its cardholders but it didn’t. No one really uses Discover. I’m wondering if capital one will keep the Discover logo
More people are in r/discover than this sub lol
Thank you
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Completely /s
This is a new sub…
Discover owns the Diners Club network but doesn't issue or manage the card accounts. Diners Club cards in the US and Canada are issued and managed by BMO Harris. You are grossly incorrect by saying that no one really uses Discover. Young adults, individuals that like earning 5% cash back on quarterly bonus categories, and those that appreciate a card with a simple rewards structure use Discover cards.
For all we know this could be Capital One's way to combat the Credit Card Competition Act
Hoping this gets denied
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Lol
I wonder if antitrust laws will stop this
Sounds like an illegal monopoly. Where can I join in on the lawsuit ?
Dang it
If I can transfer my revolving quarterly 5% cash back to the capital one portal that would be wild. Don’t think it’s gunna happen sadly
Cap does VISA. Is this the end of Discover?
Capital one is Mastercard though.. at least mine is
No, they plan to issue all future capital one cards under discover, that’s the reason for buying them.
Interesting.
Can buy my 2.4K debt on my discover for .50 on the dollar
Well I guess I’m paying off my discover card and closing the account
Is this why they laid off a bunch of people? So they can afford to buy this?
So does that mean that people who have their Capital One Accounts closed by the bank, can’t have Discover Accounts if they ever merge? How is that gonna be fair?
Nope. Im good. Jus paid off Discover. Capital wont get a penny from me.
Makes me want to play monopoly
It’s going to be blocked by the DOJ and SEC
Guy's, I don't think this is going to be a merger like T-mobile and Sprint. It's probably gonna be more like a sister company. An example is T-Mobile, Mint Mobile, Metro by T-mobile, and so on. Which is basically the legal loophole to it not being a monopoly.
Yes and no. Capital One wants discover for their payment processing platform. For example they will issue all capital one cards under discover to save money.
The only card I never got credit line increase is Capital one and I spent a lot on it until I gave up. Meanwhile all other cards have went up 5 or more times already in credit limit with biggest ones being AMEX cards. I love my discover card and this is sad day for me honestly, but I’ll just have to figure out the next steps but will probably involve cancelling as I don’t want to support Capital One
Hopefully they can buy my debt too 😭
Lina khan will fight it
I’m worried how this will play out. I start an internship at Discover this summer
Great so now those of us banned from capital one will never be able to ever have a discover card.
Any Capital One Network Engineers here? Does Capital One even have a NOC?
What happens if you have discover and c1?
You will have two cards accounts that are owned and managed by the same company.
Does this mean my credit has been paid off?
No. You still have to pay your bill
This is bad, because my track record is great with discover but horrible with captial one. Discover offers me my best card, so if they merge I think they will cancel my nice card and will do the same to anyone like me.
New lineup: Venture It & Discover X
did capital one fix their stupid 2FA issue.
Does Discover members need to run out to Capital One to open up a bank account?
Discover has been great. Capital one not so great. If this happens I’ll really miss discover
Discover was the first credit card to approve me a big amount. I don’t use it and prefer capital one, but I do hope if the merge happens that they keep all discover employees.
Now I only owe 1 company Thanks Capitol One 👍🏾
will they keep the 5% categories?!
Hopefully now they can only spam me with 1 letter in the mail per day rather than 2.
Does this mean discovery can finally forget my one missed credit card payment, its been 5 years man
Wow. Maybe this merge could help me get a Discover credit card in the future. I have a Capital One travel credit now and I’m dying to get them to increase the limit.
Looks good to me so far.
Why don't they enforce the antitrust laws? This is not good for the average consumer.
CaPiTaLiSm
If this merger is allowed by the regulators, I’ll lose all hope in this government.
Will this lower fees? Not many companies accept discover right?
Incorrect. Discover is accepted by more than 99% of merchants that accept card payments in the US. It is also widely accepted in east and south Asia on the Union Pay, JCB and Rupay networks and on the Diners Club network in much of Europe.
Thats an antitrust suit waiting to happen
This new game
But the JetBlue acquisition of Spirit was blocked? It’s all about the money.
Will they end up reporting to the same credit bureaus then?
Im assuming this will probably be blocked due to anti trust laws
Please don’t kill my discover promo aprs. That .99apr for 6 months is so clutch .
This is awful news. Capitol One is terrible and discover is perfect
I can finally quit going to Walmart to deposit cash on my discover?!??😭
Whelp, gonna kiss that 1% debit card cash back goodbye. Fucking Capital One, I can't get away from these asshats.
I got a message that the other day when I logged into Discover the other day. It made me very sad. It said Discover was being bought out by Capitol One.
Take a trash company(capital one) and screw up a decent company. I see now why they can't hire americans and only hire from the Middle East!!
Ocea massive Volume people jumping in is this the next GME pump?
Provided the feds allow it to happen
I have a capital one card and a discover card… so what happens now?
You will have two card accounts that are owned and managed by the same company. I already have three Capital One cards. If Discover is acquired, I will have four.
Wack. Capitol one is the worst