Your CD account
Discover is part of Capital One
Your Discover CD account is becoming a Capital One CD account.
We’ll do the heavy lifting
Your account details—CD rate and term length, maturity date and more—will be ready for you at Capital One. When it's time, we'll be in touch about your bank account and send you more info about how to manage it using the Capital One website and app.
What you can expect
Same rate
Earn the same rate that you had with Discover for your current CD term.*
Same term
You'll have the same term length as your current CD at Discover.
Same account number
Keep the same account number when you get started with Capital One.
When it’s time, manage your account with Capital One
We'll let you know when to start managing your account using the Capital One website and app. There's nothing you need to do until you hear from us.
Benefits you can count on
No market risk
Your CD’s performance isn’t tied to market variability, so there’s no risk involved.
Guaranteed returns
Your money will still grow at a fixed rate over the term of your CD account.
Same rate
Earn the same rate that you had with Discover for your current term.*
Interest payments
Your interest payments will be paid out the same way they were with Discover.
FDIC Insurance
Your account is still fully insured up to FDIC’s allowable limits. See FAQs.
In-person support
Get support for your banking needs at local branches and Cafés.
Frequently asked questions
Will my CD account features change?
There aren’t any substantial changes to CD features. However, there are a few changes to CD settings—for example, your grace period will be extended to 10 days and your early withdrawal penalty will change.
Your rate remains fixed and will stay the same through your current CD term, and the length of your term won’t change when your Discover account becomes a Capital One account.
These details will be available in the email or letter we’ll send you, which will include a change in terms notice and your new account terms.
Will I lose access to my accounts on Discover.com or in the Discover app?
Not all Discover accounts will be ready to manage with Capital One at the same time.
You can continue using Discover.com or the Discover app for any accounts that are still with Discover.
After an account is set up with Capital One, you’ll use the Capital One website and app to manage that account. You’ll no longer be able to view or manage that account on Discover.com or in the Discover app.
Will I need to create a new username and password?
You may be able to use your existing username and password depending on where you manage your accounts:
- If you’re an existing Capital One customer, you’ll keep using your Capital One username and password.
- If you’re not an existing Capital One customer, you’ll be able to use your Discover username and password—unless that username already exists with Capital One. You can also reset your password if you'd like to.
- If you have multiple Discover accounts, they may be ready to manage with Capital One at different times. In that case, you’ll need to create a separate username and password for Capital One.
When it’s time for you to set up online access, we'll reach out with info on how to get started.
Will the length of my CD term change?
The length of your CD term won’t change when your Discover account becomes a Capital One account.
When your CD matures, it will automatically renew to the next closest term length if your previous term length is no longer available (but will not be longer than your previous term).
You can view or change your renewal options online or by phone. You'll also receive advance notice at least 30 days before your CD matures with your renewal options.
Will my CD account rate change?
Your current CD rate won't change when your Discover account becomes a Capital One account. Your rate remains fixed and will stay the same through your current CD term.
If you haven't selected a new maturity option by the time your CD account matures, your account will automatically renew at the rate being offered at the time of maturity for the same term length of your current CD—if available.
If your previous term length is no longer available, it will renew to the next closest term length (but will not be longer than your previous term).
We'll send you a 30-day advance notice before your CD matures with your renewal options.
Have another Discover account?
The transfer of IRAs to Axos Bank doesn’t impact any of your other banking products. You’ll receive more info from us about each Discover account you have.