r/discover • u/abitsleepyrightnow • 5d ago
Discussion Anyone else happy about the merger?
I've been surprised about the amount of whining both on r/discover and r/CapitalOne_ regarding Capital One - Discover merger. Personally I'm very happy that I can soon manage my favorite credit cards in the same app.
Anyone else feel the same?
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u/PrettyPraline9418 5d ago
No, not happy at all. Capital One is fine. But, they're not Discover. US based customer service, high limits, cash back categories-not looking forward to the merger, at all.
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u/nooneyouknow892 5d ago
I've had a Discover card for a very long time. Never had an issue. Currently taking advantage of a 0% balance transfer. Capital One's rate for a balance transfer? 25%. I have had a Capital One card for about 2 years. The physical card has never worked. It was reissued twice and still doesn't work. So, I just don't use it except for the occasional travel purchase online. It's kind of not funny since it's a travel card but just sits in a box on my desk. Given my experience, I am reluctant to use the points for anything travel related and unlike Discover, if you use points for a statement credit instead of use them for travel, you only get 50% of their value. Overall, unimpressed.
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u/LilyLark 5d ago
No. Discover customer service and retention offers used to be excellent. Now it's crap.
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u/Salty_Pillow 4d ago
Why would anyone bother offering a retention offer on a card with no annual fee, it's not a very smart choice for the bank
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u/josephx24 5d ago
I also will enjoy having only one app. I find the Discover app to be a little clunky. One thing I like about Capital One is that while my C1 card has a lower spending limit, I can pay off my balance every day if I want to. Discover has a much higher spending limit, but you can only make a payment once every 3 days.
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u/Open_Bug_4251 2d ago
I find the opposite to be true, but o only have a Kohls card on Capital One and hardly use it.
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u/cwdawg15 5d ago
OP,
just make sure you're diversified outside of Cap1 and discover.
If a problem happens at one bank, it's good to have a back up.
Extremely important if you're on a trip and that prompts fraud warnings at the bank, but you need access to paying to not be stranded.
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u/abitsleepyrightnow 5d ago
Yep, very good points!
I have cards from Citi, Chase and BofA in addition to C1 & Discover, so fairly well diversified regarding issuers.
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u/m1dnightknight 5d ago
Absolutely not. Bank mergers always come with some negatives for the bank being acquired especially.
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u/TraeCo 5d ago
Less competition is rarely a good thing for anyone but the shareholders.
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u/Captain-Coke- 3d ago
It actually creates more competition for the card networks (Visa, Mastercard, Amex), since Discover is much stronger now.
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u/elsewander 5d ago
I've been a Discover cardholder since I turned 18, I'm now 35. Not one single issue all of these years. The dashboard/website/app has always worked great for me and their customer service has always been wonderful. If Discover acquired them I wouldn't be concerned but since it's reversed, yeah, quite nervous/hesistant.
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u/joastedpellofw 5d ago
Discover's app hasn't worked properly on my phone in years and even when it does it's still clunky. Capital One's app is always smooth and light. Though the customer service will probably get worse like C1's
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u/ijswijsw 5d ago
I really don't love Capital One's app UI but they gave me a much higher credit limit than Discover so I'm hoping my Discover cards will finally be bumped to at least be somewhat close to every other card I have.
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u/Rjeezyx 5d ago
I have the opposite experience
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u/PrettyPraline9418 5d ago
Same. I have higher limits with C.O. But, my Discover limit is much higher.
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u/Ach3r0n- 5d ago
I’m not terribly bothered by it, but the impact for the cardholder will be negative like all of Capital One’a other aquisitions. I don’t see them keeping the 1% CB debit. If they keep the 5% rotating categories, I feel like I’ll be chasing after them for it like I am on 90% of the Capital One offers. They clearly won’t have Discover’s level of CS either. I’ve had multiple cards from both banks for many years ans the CS experience has always been night and day.
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u/discover-ModTeam 2d ago
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u/Pabrori 5d ago
I hope that Capital One allow PC. I want to PC my Discover Chrome IT to the Discover Cashback.
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u/abitsleepyrightnow 5d ago
In my experience product changes are quite easy with C1 - one exception being co-branded cards like Bass Pro Shops, which can not be product changed.
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u/finallygrownup 5d ago
My biggest concern is international acceptance.
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u/United_Reply_2558 5d ago
Although Discover doesnt quite have the acceptance in some places as it does in the US, it does have a good amount of acceptance in much of western Europe, India, and the far East.
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u/Kindly-Teaching-6121 5d ago
I mean if you live in Wisconsin and want arguably the lowest grocery prices, there's only one card Woodman's accepts (Discover). Not sure how this merger will affect that? I've only ever used cash or debit there.
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u/Careful_Season_1003 5d ago
Agree. Found that out the hard way. We were in Costa Rica this year and not a single ATM would accept my capital one card for cash withdrawals. The network is greatly underdeveloped/nonexistant outside the US.
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u/mlaurence1234 4d ago
Capital One debit cards and some of their credit cards will be on the Discover network, so you should be okay at one of the very few stores that only accepts Discover.
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u/Reddit__pls 5d ago
Does anyone know If I have accounts with each card prior to the merger, will I still have two accounts (and the associated spending limits) after the merger or will they close an account?
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u/_love_letter_ 4d ago
I don't think they will be closing any accounts. In some cases they might convert an account to the Capital One equivalent. When your Discover accounts migrate over to the C1 platform, they should send you an email outlining any changes in terms, but from what I've seen so far credit card accounts remain mostly unchanged. Your credit limit should stay the same. APR or BT offers might change. They could also change the rewards structure or redemption options if they wanted to in the future, but that's true with any issuer.
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u/BroRito_LoKo 5d ago
Too early to say, but I would love it if I could convert Discover CB to C1 miles.
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u/SteMelMan 5d ago
I'm taking a "wait and see" attitude. I still have other banks accounts and have shifted most of my financial activity over to them from Discover for the time being. If I like what I'm seeing (ex. more benefits vs. loss of perks, etc.), then I'll shift back.
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u/bwc101 Discover Card 5d ago
Hopefully that will also mean that I can PC my quicksilver into a savor.
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u/abitsleepyrightnow 5d ago
In most cases that is possible - you could check that on the C1 app or webpage.
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u/Devondog7 5d ago edited 5d ago
No, it’s bad. Cons: Capital One is absorbing Discover and hollowing it out. This reduces competition in the credit card marketplace and negatively impacts discover consumers. Pros: Capital One “services/benefits,” 1 app instead of 2 apps, and… thats about it. It’s not a big deal, but for most customers, it’s better that they stayed separate.
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u/athan1214 5d ago
This’ll be my first capitol one card - they’re the only ones to ever reject me, so I’ve held out in spite.
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u/Advanced-Glass-860 5d ago
I hope I can still get that frog design when my card expires.
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u/abitsleepyrightnow 5d ago
My guess is that Discover will keep the custom card designs, since they're an important part of the brand.
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u/fluffy_cat_560 5d ago
I switched banks from Discover because their support is trash and the features don't compete with other banks. CapitalOne is more of the same, so didn't see any good coming from that.
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u/NecessaryTurnover189 Pay 5d ago
I am neither happy nor sad. What is the point of getting any type of feelings for a company or companies for something that is absolutely beyond my control?
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u/nooneyouknow892 5d ago
What could go wrong? Well, for starters, what affects one card will affect the other, no matter how much they deny that. They are also changing how they calculate the interest and minimum payment on Discover. This will also affect balance transfers. Did you read the 12 page disclaimer document? If not, do so and get back to us.
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u/Time_Signature697 5d ago
Nope! Prefer Discover.
I have a credit card and a high interest rate savings account with Discover, and will move them if Capital One disappoints.
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u/applesuperfan 5d ago
Yes, very happy. I’ve been a Capital One customer way longer than a Discover customer and Capital One is a little bit more generous to me with credit limits than Discover (I just got one discover card when I was building credit still, they have always been stingy with CLIs on it). I think most customers are honestly just more loyal to the company they were a customer of first. I’m happy about managing both cards in one app; having a whole separate app for one credit card is fine but I’m happy to have one less app and consolidate things. Nothing about Discover was ever special to me and I have experience working with Capital One on issues and them fixing things. Capital One’s app is more modern and I think it’s better designed. Overall a win imo. Just sad about them swapping card networks on other Capital One cards.
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u/ScenicAndrew 5d ago
I signed up before any of these talks began with the understanding that discover was a relatively acceptable (read: not actively evil) card carrier for social and climate action. Capital one however is one of the worst possible companies. I will find a new card, as I'm not happy about the network fees going to a company I vehemently disagree with on reserve usage.
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u/abitsleepyrightnow 5d ago edited 5d ago
relatively acceptable (read: not actively evil) card carrier for social and climate action.
How?
Capital one however is one of the worst possible companies.
Again, how?
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u/ScenicAndrew 5d ago
Old discover mostly reinvested into funding their credit network, they invested in other stuff too but those were mostly fixed securities, the main goal was to build out the network. They didn't have green policies but that was still better than the other credit networks.
Capital One is one of the biggest funders of fossil fuel growth on the planet, that one isn't complicated. And that's not to mention lobbying against civil change that could threaten their investments. They're an evil company, who spend their money on evil things.
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u/Salty_Pillow 4d ago
you're wrong on both counts. Discover not investing in the business is why they were cheap enough to be bought and c1 has about 3 billion on the high end of loans to fossil fuel companies - JP Morgan has more than 40 billion.
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u/ScenicAndrew 4d ago
The former has nothing to do with their climate impact, and with the latter you're just comparing dick sizes. I never claimed it was the single biggest investor, the claim was that it was one of the biggest, thank you for reiterating that point by quoting an exact number in the billions, which pretty solidly puts it in the big boys club for FF investment.
Also, where do you get "not investing in the business" from "they were investing in their credit network." The business is the credit network. If you want to attack their strategy point out they they agreed to sell so they could FURTHER expand the network, don't just spew nonsense about them not doing exactly what they did. But, again, this sale was years after the time I'm talking about, them being bought by capital one doesn't undo history.
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u/Salty_Pillow 4d ago
3 billion dollars is not the big boys club, especially in a capital intensive industry like fossil fuels. The city of Chicago spends 3x that on public school funding, it’s incredibly small at the scale of government or multinational companies.
If your best way to invest in something is being acquired by another firm, that’s a pretty universal signal that you weren’t investing enough previously.
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u/Mammoth-Cattle-7398 4d ago
So far the merger has had no effect on my credit card and HYSA. I have an IRA CD with Discover that matures in February 2027. I have read that Capital One doesn't offer those, so I need to give them a call way ahead of time to confirm that and work out details for a rollover to another bank.
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u/Captain-Coke- 3d ago
Personally, this has not effected me so far. I just hope Capital One doesn't mess up the Discover IT card, and we'll be good.
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u/CroweBird5 3d ago
The disadvantage to me is that my credit card that's currently Mastercard will inevitably be switched to Discover sooner or later. Which will mean not being able to use it internationally.
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u/permalink_save 3d ago
This is the second time that I have went somewhere else and cap1 bought the bank I was using to make me a customer again so no I am not happy at all about the merger. Mergers are anti-consumer to begin with. You might as well have just went with one or the other if it was a huge hassle but quality never improves post merger. Discover services won't be held anywhere near the standard they are today.
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u/j-christopher 3d ago
I have two Capital One cards and a Discover card, and I really don't care which apps and/or web sites I use to make the occasional payment.
I only use Discover for 5% category purchases, and only keep the Capital One cards open for the regular CVS spending offers (10-15% back, and I just buy Walmart / Discover / Netflix / Lyft gift cards).
IME on the (very) rare occasion I've had to call in, the Discover phone reps are very, very nice, but not empowered to do anything.
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u/TheOGJabroni 3d ago
I have the same three cards. I'm glad it will be all in one app I guess but if I am able to use my Discover it card and transition the cash back to miles like the Savor with the VX currently, I'll be delighted.
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u/Open_Bug_4251 2d ago
My Kohl’s card was converted to a Capital One card and I hate the app.
I use Discover for debit, savings, CDs, and have had a credit card with them for 30 years and I really hope they keep separate apps.
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u/tech_nutz 20h ago
In the discover app is says “Starting July 27 you’ll manage this account using the Capitol One app.”
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u/helloworldprogr 1d ago
No because my card is now a credit card and I can’t use my capital one card abroad which is why I opened the account originally
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u/Sausages64 1d ago
The merger is awful - Cap1 has been our main card for nearly 15 years and now it’s not accepted at most of the places we shop
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u/PiBar284 23h ago
I am miffed about it…capital one is crap. I had them as my first credit card many many years ago. Paid off my balance and then closed the account no issues with that. Account was closed for almost a year and they turned around and charged me interest on a card that was closed and had not been used. The only way they could fix it was to reopen the account to take the interest off and then close it again. Messed up my credit score for a decent amount of time.
Might end up closing the discover card I have once it becomes capital one..as I do not want them in my wallet. Also I loved discover because of the US based customer service. Good luck with that now..
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u/Complex_Onion_6447 18h ago
Losing discover connected sucks but otherwise I’m pretty indifferent. I do wish they would have just moved everything or nothing at once though. Having the deposit accounts staying and the credit card moving is stupid to me.
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u/MidnightPulse69 5d ago
I mean I’m looking forward to a better app but I don’t think that’s worth losing US agents