Capital One - Moving many cards to the Discover Card network.

[Burgerwars]

https://www.dailymail.co.uk/yourmoney/consumer/article-14243781/major-change-capital-one-card-issues-abroad.html

 

[shifter]

More spenders on Disco network should eventually force merchants to start to accept it more. Also, maybe C1 will lower the fees to make them more competitive with V/MC which would also encourage more adoption. 

[MP80]

I wonder if this is the last time Discover is acquired, given that it has changed hands so much in the nearly three decades since the 90s. I say this because the value of Discover's payment network exceeds the actual price of being folded into a Capital One subsidiary.

 

Capital One is keeping the Discover brand name for future financial gain. This is not like BMO absorbing Bank of the West and eliminating the brand, which many people consider a foolish corporate policy to eliminate a well-known brand name that has been around for 50 years.

 

I believe Discover could be spun off again. 

[supern8ural]

This is going to give me fewer options if they do this... I currently have three no FTF cards; my Savor, Discover It, and oddly my Citi Costco Visa.

 

The one time I wanted to buy from a French vendor vaguely recently I was trying to put spend on my Discover to stimulate CLIs; they ostensibly accepted Discover but I couldn't get the transaction to go through.  I had to use my Quicksilver (which I later PC'd to a Savor) so the concerns about using the Discover network outside the US seem warranted from my perspective.

[TheVig]

7 hours ago, MP80 said:

I wonder if this is the last time Discover is acquired, given that it has changed hands so much in the nearly three decades since the 90s. I say this because the value of Discover's payment network exceeds the actual price of being folded into a Capital One subsidiary.

 

Capital One is keeping the Discover brand name for future financial gain. This is not like BMO absorbing Bank of the West and eliminating the brand, which many people consider a foolish corporate policy to eliminate a well-known brand name that has been around for 50 years.

 

I believe Discover could be spun off again. 

 

Sears is gonna rise from the ashes, and buy it back.

[MP80]

5 hours ago, TheVig said:

 

Sears is gonna rise from the ashes, and buy it back.

If Sears symbolizes a rebirth after a phase of devastation or hardship akin to the mythical Phoenix rising from the ashes then what other realities exist beyond the trillionaire entity taking over Sears and reacquiring Discover, we need the insight of Schrödinger or Hugh Everett III. 

[chicagorich]

I had forgotten all about this merger. Any word what C1 plans to do with Discover accounts? I already have a QS and Savor.

[supern8ural]

Timely to this, I went to order food to watch the hockey game last night, my Discover got declined at both my local pizza place and Wingstop (figured if I was going to be lazy I'd at least get that 5% cash back)  Discover said there was no issue with card.  Savor went through no problem.  Cap1, you sure you want to move to the Discover network?

[Burgerwars]

19 hours ago, chicagorich said:

I had forgotten all about this merger. Any word what C1 plans to do with Discover accounts? I already have a QS and Savor.

 

I'm thinking they'll combine them all under a Capital One/Discover name. I have both brands too plus checking/debit cards with them. Combining operations always saves money and costs some employees their jobs.

[shifter]

5 hours ago, Burgerwars said:

 

I'm thinking they'll combine them all under a Capital One/Discover name. I have both brands too plus checking/debit cards with them. Combining operations always saves money and costs some employees their jobs.

I don't think so. I think their plan is to keep branding separate. They just want to leverage their network for more cards, so they stop spending millions on interchange fees to V/MC.