Hold up! Capital One Officially Acquires Discover in $35 Billion Deal

[Database Error]

2 of the world's largest credit card companies just merged

2 of the world's largest credit card companies just merged

Capital One acquired Discover in an all-stock transaction valued at $35.5 billion.

www.businessinsider.com

 

[Database Error]

Just got the email like?
Thought discover would buy cap1 if anything. Oh well

 

[APOPHIS]

Ugh! Got pulled into another bank.

 

[blackbull1970]

I got a feeling the Orange Moron had something to do with this…

 

[Coldchi]

Time for the layoffs and job cuts.
It always follow acquisitions.

 

[KATDADDY]

what in my discover wallet ?

 

[Database Error]

Just have to wait and see how this plays out

 

[bgbtylvr]

Weak ass .60 dividend.

 

[Pimpslap Slim]

Capital one got some of the worst CC interest rates around. SMH

 

[RoomService]

Time for the layoffs and job cuts.
It always follow acquisitions.

Maybe not. I believe Capital One will adopt the American Express strategy and establish its own network, thereby eliminating MasterCard and Visa for their transaction processing.

 

[Ceenote]

I got a feeling the Orange Moron had something to do with this…

Bruh the completion of everything is done.. this acquisition was made over a year ago.. i wasnt happy with it either..but here we are..

 

[Ceenote]

Maybe not. I believe Capital One will adopt the American Express strategy and establish its own network, thereby eliminating MasterCard and Visa for their transaction processing.

That would be nice...i dont know much about captital one..i been with discover for a couple minutes..

 

[4 Dimensional]

Capital one got some of the worst CC interest rates around. SMH

For real.

But discover isn’t that much better. These two deserves each other.

 

[Coldchi]

Maybe not. I believe Capital One will adopt the American Express strategy and establish its own network, thereby eliminating MasterCard and Visa for their transaction processing.

i was laid off from Bank Of The West at the end of 2022, right before they were acquired by BMO 2 months later.
if the layoff doesnt come now.....it will come later.....believe me.

 

[Hey Julian!]

Maybe not. I believe Capital One will adopt the American Express strategy and establish its own network, thereby eliminating MasterCard and Visa for their transaction processing.

That's the play I was thinking. If they can undercut fees for merchants they'll still cake up because they are combining their card holders and Discover's. Not sure how discovers merchant fees are vs Visa and MC. I would imagine lower.

 

[Deezz]

Capital One is gobbling up a lot of credit card companies.

I know they just bought Kohl's credit as well.

 

[illlit]

Capital one got some of the worst CC interest rates around. SMH

They have better rates than my Chase Southwest card. That's for sure

 

[Ceenote]

That's the play I was thinking. If they can undercut fees for merchants they'll still cake up because they are combining their card holders and Discover's. Not sure how discovers merchant fees are vs Visa and MC. I would imagine lower.

I had read this one grocery store woodmans was like they only except Discover card because it keep things cheaper for the customers..

 

[Z MONSTER]

For real.

But discover isn’t that much better. These two deserves each other.

This. I had a Discover card for 2 years. Never again

 

[yaBoi]

Yeah this has been rumored for a few weeks..

I got both cards wonder what happens next

 

[kesq]

Thanks for this thread. I read BGOL closer than I do my emails.

 

[Hey Julian!]

For real.

But discover isn’t that much better. These two deserves each other.

This. I had a Discover card for 2 years. Never again

The bar for entry is lower than other CC’s with Discover so basically they’re more of a sub-prime card. I imagine that comes with all kinds of backdoor fees and penalties that comes with typical practice companies that go the subprime route.

 

[RoomService]

A lot of people are telling on themselves about how piss-poor their credit rating is in this thread.

In all honesty, Navy Federal likely offers some of the best interest rates on their credit cards for any customer.

 

[RoomService]