How Will the Capitol One–Discover Merger Affect Your Credit Cards? Here's What to Know

Chris Malone Méndez
·2 min read
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On Feb. 19, Capitol One announced it was acquiring fellow credit card issuer Discover for more than $35 billion. If the deal goes through, it could create the largest credit card company in the U.S. with more than $250 billion in loans, according to Reuters. But a lot needs to happen in order for the two companies to become one. If they do, how will it affect current cardholders with either companies?

Read on to learn how the current negotiations will affect consumers in the short term.

When will the Capitol One–Discover merger be done?

Capitol One said in a statement that it expects the merger deal to close in late 2024 or early 2025, but that timeline largely depends on approval by regulatory agencies in the government as well as shareholders for both Capitol One and Discover.

Can the Capitol One–Discover deal fall apart?

It remains to be seen if the merger ends up actually happening. In a statement, Senate Banking Committee Chair Sherrod Brown ensured that regulators will have a hands-on role in ensuring the move best serves everyday Americans.

"With a merger this size, the regulators need to ensure our financial system remains strong and competitive, so that consumers continue to have access to safe, affordable financial products and services. A rubber-stamped merger that makes powerful financial companies even bigger and more powerful will do nothing for families," Brown said in a statement. "We will be monitoring all developments to ensure that this merger doesn’t enrich shareholders and executives at the expense of consumers and small businesses."

What benefits can Capitol One and Discover customers expect to see?

Right off the bat, Discover customers can expect to see their cards become accepted at more places. You can probably also expect to see increased access to luxury airport lounges and other perks and rewards.

What will happen to your Capitol One and Discover cards?

In the short term, Capitol One and Discover consumers likely won't notice much of a difference in their experience. Capitol One has stated that it doesn't plan to eliminate Discover's various cards and rebrand them as Capitol One cards, according to The Wall Street Journal.