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Reading: Capital One's $35 Billion Discover Acquisition Is Set to Close on Sunday. Here's What That Means for You
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World of Software > News > Capital One's $35 Billion Discover Acquisition Is Set to Close on Sunday. Here's What That Means for You
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Capital One's $35 Billion Discover Acquisition Is Set to Close on Sunday. Here's What That Means for You

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Last updated: 2025/05/17 at 10:38 PM
News Room Published 17 May 2025
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Capital One’s deal to acquire Discover closes Sunday, May 18. The acquisition was cleared by federal regulators last month, so the two credit card giants are slated to merge.

“The combination of our two great companies will increase competition in payment networks [and] offer a wider range of products to our customers,” Michael Shepherd, interim CEO and president of Discover, said in an April press release.

In February 2024, Capital One announced its plans to purchase Discover for $35.3 billion. Some experts have argued that the merger isn’t good news for consumers, since Capital One is the third-largest credit card company, and Discover is one of only four credit card networks. That could mean less competition among credit card companies, leading to higher prices and fees.

On the other hand, the deal could give Discover the additional backing it needs to compete with Visa and Mastercard, which some policymakers say have a duopoly on the credit card network market. American Express, the third-largest network, is both a payment network and an issuer, like Discover. More competition among payment networks could lead to lower swipe fees, which retailers could potentially pass along to cardholders.

Though it’s unclear exactly what changes are coming for cardholders, we’ll likely start learning more within a month.

What’s next for Capital One and Discover credit cardholders?

Your Capital One cards will likely change card networks, from Visa or Mastercard to the Discover network, sometime after the May 18 closing. This could impact not only some of the card perks and protections, but also where it’s accepted. Discover has a narrower acceptance rate than Visa and Mastercard, especially outside of the US.

Any changes won’t be immediate, though. In the press release, Capital One said no changes will come now or immediately following the closing date. Your card issuer will alert you to changes ahead of time, so just watch for communications. 

In JD Power’s annual customer satisfaction study of card issuers, both Discovery and Capital One rank highly in customer service, so customers shouldn’t expect any new hardships after the deal goes through.

The biggest change will be to your card’s network. Since Capital One doesn’t have a network of its own like American Express, acquiring Discover provides a missing piece. At the same time, Capital One could expand Discover’s reach by adding its cards to that network.

While acceptance rates could change, if you’re planning a trip this summer and are worried about Discover’s acceptance rate overseas, consider applying for a credit card on the Visa, Amex or Mastercard network.

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