About the acquisition
Good for consumers
Good for small businesses
Good for communities
Capital One and Discover have a shared heritage of challenging the status quo and helping customers succeed. Since its founding, Capital One has been guided by a belief that no consumers should be prevented from accessing credit nor be locked out of the financial system. And today, we remain committed to serving American consumers across the credit spectrum.
Capital One was the first national bank to eliminate overdraft fees and provide the service for free. Discover has been a pioneer of cash back rewards with a legacy of award-winning customer service and exceptional customer advocacy. Together, these two companies are excited to drive innovation, increase competition in banking and payments, and serve customers with ingenuity and humanity.
Read the press release
Capital One's $265 Billion Community Benefits Plan
Learn more about Capital One's $265 Billion Community Benefits Plan to Advance Economic Opportunity and Financial Well-Being.
Question about a specific Capital One or Discover product?
Your questions, answered
Can I still apply for Discover products?
Yes, definitely. You can apply for an online banking account, credit card, or loan at Discover.com any time. They are still Discover products, but will now be a part of Capital One.
I'm an existing customer, what will change for me?
Capital One intends to continue to offer Discover credit card products as Discover-branded cards alongside the other consumer cards currently offered by Capital One. We intend to preserve the Discover brand, with the Discover issuer brand joining the Capital One brand family.
Credit, banking and small business customers can continue to expect award-winning customer experiences along with new products, features and capabilities, enhanced fraud protection, and a reduction in unnecessary transaction declines over time.
Will this result in branch closures?
We don’t anticipate any changes to Capital One’s existing branches or Cafes, or to Discover’s single bank branch in Greenwood, Delaware, as a result of this acquisition.
Does this deal make Capital One the largest credit card company?
The credit card market will remain intensely competitive after the transaction. While the combined Capital One-Discover will be a leading credit card issuer, the company will continue to face many significant competitors.
Capital One is currently the third largest credit card issuer in terms of credit card purchase volume, and we will remain in third place behind Chase and American Express after the deal.
Purchase volume is a meaningful indicator of size as it represents the value of transactions made on Capital One’s credit cards.
Discover Network questions
What does this mean for Discover Network, PULSE and DCI participants?
- Capital One intends to preserve the Discover Network, PULSE, and DCI brands for the near future. These network brands have now joined the Capital One family but will operate independently.
- We expect to continue to expand the network’s reach and resonance, driving more spending and increasing value for issuers and cardholders alike.
Will I still have the same relationship manager and access to the same systems?
There will be no changes to the day-to-day operations of Discover Network, PULSE or DCI.
What if I have additional questions about Discover Network, PULSE and DCI participants?
Please reach out to your Discover Network, PULSE or DCI Account Executive or Relationship Manager or your Acquirer.
Contact us
Investor Relations:
Danielle Dietz: danielle.dietz@capitalone.com
Jeff Norris: jeff.norris@capitalone.com
Media Relations:
Sie Soheili: sie.soheili@capitalone.com
Carlisle Campbell: carlisle.campbell@capitalone.com