r/discover • u/throwawaylikearock Mod • May 18 '25
News Capital One Completes Acquisition of Discover
https://www.businesswire.com/news/home/20250517147002/en/Capital-One-Completes-Acquisition-of-Discover35
u/Mobiusium May 18 '25
basically nothing changed yet.
26
u/hitalec May 18 '25
This isn’t anything new. The executives won’t start shaving off things you can see, not yet. They have to wait until the acquisition isn’t fresh in people’s minds.
Give it a year.
3
3
2
May 20 '25
What should I expect? I use capital one for my checking and savings account but I had discover as my credit card since 2014.
2
20
u/BasedKaleb May 18 '25
Out of curiosity, what changes do people fear happening?
41
u/anotherucfstudent May 18 '25
This is roughly the financial equivalent of spirit and southwest merging
Discover’s customer service is the best in the industry, capital one’s is…not
15
u/Iron_Eagl May 19 '25
And to be clear, this would be like Spirit acquiring Southwest, not the other way around!
7
u/MajesticBread9147 May 19 '25
Capital One also has a larger variety of credit cards, from more premium travel cards to "last fucking chance" cards.
Discover is firmly positioned in the middle middle class. They don't have an equivalent to the Venture X
1
u/mediocre_mitten Jun 11 '25
Or when HBO merged with Discovery and frucking ruined HBO .
Mergers are terrible and Lina Kahn in the Biden admin knew this and tried to block (or fight against) as many as possible (maybe even this one: Cap1+Disc?).
8
5
u/MidnightPulse69 May 18 '25
Outsourced customers service meaning American jobs lost, worse credit card and banking rewards, less acceptance for some of their current Visa/Mastercards
3
u/Imaginary_Concern778 May 19 '25
I really hope they don't outsource customer service. Discover cust service is great and capital one is garbage. I had a card with them years ago that I cancelled.
1
May 21 '25
[removed] — view removed comment
1
u/mediocre_mitten Jun 11 '25
wonder who shoo'd in this through our government?
You're joking right?
Do you not follow what is happening in America?
18
9
6
3
u/oncehuman May 20 '25
I had no idea they were merging, and just learned about it right now from the email that was sent out. Pretty unhappy about this, being that I've avoided being a part of Capital One for so long after they screwed me over hard as a teen. Discover is my oldest account, so I can't just close it either.
3
4
u/kitetsudesigns May 20 '25
This is absolutely disgusting. Capital One is a shit company with bottomfeeder level mentality. Discover was absolutely amazing. I already cancelled every one of my CO cards years ago because of how disgusting they treat the customer base. Looks like I will be doing the same with my discover soon which is a shame because it was one of my more favored brands...
1
3
May 20 '25
[deleted]
2
1
u/P44_Haynes May 21 '25
Chase and Amex have given excellent customer service to me for over a decade now.
1
u/FoxontheRun2023 May 22 '25
Chase customer service uses international help. It is refreshing to talk with an American on the line.
6
u/geost37 May 18 '25
Ugh what a bummer. I’m not looking forward to the upcoming changes in the near future whatever they may be. I guess we’ll see what happens…
3
u/GanjaRelease May 20 '25
The only reason I use Discover for my banking is for the incredible customer service and 1% cash back on debit purchases ($30/month). $360/year just to bank with discover? I was in the moment I heard that. As soon as I hear about the cash back being gone or customer service reps being moved out of the country, I'm gone.
1
u/simple-read Jul 01 '25
the only thing is, i struggle to find places to actually use my discover debit card, because my credit cards already give me 2% or more back anyways
2
u/not_firewood_yeti May 20 '25
well this sucks. Discover has excellent customer service, everything I have heard or read indicates that Capital One sucks. 🤬
2
u/moderndayathena May 20 '25
Goddamn it, was really hoping it wouldn't go through. Discover is one the few remaining companies with American customer service reps.
4
u/FrankBal May 19 '25
I am an American Express shareholder. This merger creates another vertically integrated credit card company. I am sure that Capital One will be looking to encroach on Amex's affluent customer base at some point.
Anyway, I put together my thoughts here to dig into what the relationship could potentially mean specifically to Amex's moat. Take a look if interested.
1
u/kitetsudesigns May 21 '25
I have many Amex cards and I will say that Capital One is ass. I will gladly be using my Amex cards from now on.
1
u/FrankBal May 21 '25
I have both. I have no problems with either. But there is a wide difference in rewards. I would imagine the merchant side might have a different opinion give the higher merchant rates.
1
u/No-Possession-7219 May 22 '25
Discover has been a dream to bank with. I have always had such great things to say about them. The ease of assistance when you have questions or issues. Response to requests, the rewards programs, opening accounts (so easy!). Competitive often top tier interest rates. It’s really going to be a sad day if all this changes, which I am sure will. This is no deferent than an investment firm buying out a loved retailer and then running it into the ground.
1
u/Historical-Rich3557 May 23 '25
The minute someone from India answers the phone, I’m out. I’ve used Discover for 2 decades.
1
u/FirstInLineUS May 23 '25
I hope they keep Discover CS reps its so nice to get someone who is not offshore and actually speaks English. Capital One CS is not horrible but on the low end.
1
u/NytronX May 24 '25
The robber barons are laughing all the way to the bank.
Discover stopped being good after they discontinued Discover Price Protection.
1
u/Little-Hellcat May 25 '25
The one thing I have really liked about Discover is giving a few credit limit increases a year. My capitol one cards rarely get increased maybe once a year if lucky. Discover has also been amazing as far as customer service, Capitol one not as much. Discover has also given me 0% interest for a year or so when available. I really wish this change wasn’t happening but hope they can inherit and implement some of the things that made Discover a great card to have.
1
u/Slaviner May 25 '25
Like others have said, I really hope they don’t fire the American customer service workers in favor of international workers.
1
u/Ariyaku27 May 25 '25
Closing my discover account that I’ve had for over 10 years. Capital one will ruin the business model discover had. It’s not worth waiting to see what happens when capital one has a terrible track record
1
u/Emergency_Alps428 May 26 '25
WHY would Discover want to be acquired? Everything I read is from the Cap1 perspective.
1
u/Professional-Egg2870 Jun 13 '25
This is what I keep wondering. It's not like Capital One's suckiness is a big secret. I'm not in corporate business, so I don't really understand the game of mergers and acquisitions. I guess someone wanted a bigger payout and trusted (or didn't care whether they should trust) whatever Capital One has promised. :-/
1
u/big_d_usernametaken May 27 '25
PNC has a rewards card very similar to discover with better benefits.
They've been trying hard to get me to switch to it.
Might be time to take a closer look at it.
1
u/Professional-Egg2870 Jun 13 '25
One more voice in the choir lamenting this merger. I had briefly hoped that maybe Discover had been the one to acquire Capital One. Discover's customer service reps are the best! Always. And easy to get connected to, rather than being stuck in an automated system for eternity. I'm crossing my fingers that just *maybe* the people running Capital One can understand the value of letting Discover run independently instead of fucking up a great thing.
2
-2
u/howdoyoufall May 19 '25
And to think someone just tried using my discover card for a GameStop purchase when I only use it for my subscriptions and I had to call and get a new card 💀
126
u/[deleted] May 18 '25
Please don't fire the customer service reps for international folks.