What Happens to Your Discover and Capital One Cards Now That They've Merged?

Getty Images/CNET Capital One and Discover are officially one company after Capital One's $35 billion acquisition of Discover closed May 18. The deal was initiated in February 2024, when Capital One announced its plans to acquire Discover. Despite the deal closing last week, don't expect any changes to hit your cards right away. Capital One said while it plans to strengthen the Discover network, Capital One cards will continue to use Visa and Mastercard. However, that may change down the line. Experts are split on whether this merger will benefit cardholders. Capital One is the third-largest credit card company, and Discover is one of only four credit card networks, along with American Express, Visa and Mastercard. Some experts worry this could lead to less competition among credit card companies, pushing up prices for people. But the merger could also give Discover the financial backing it needs to really compete with Visa and Mastercard. Some policymakers suggest the two companie ... Read full article.