Reply to Discover and Capital One Merger

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Discover is for the poors. I'm team AMEX and Chase.[/quote]

Yeah, I’m poor.  No AMEX for my broke a$$.

I’m surprised the government approved this merger?  Has the Biden administration just given up on us poors?[/quote]

It was just announced yesterday. It has not been approved.

[url]https://www.washingtonpost.com/business/2024/02/20/capital-one-discover-merger-washington/[/url][/quote]

The Discover website says it’s a done deal.  If you have a Discover card and try to log in, they say that Discover and Capital One have merged.  [/quote]

"Discover and Capital One approved an agreement in which Discover will merge into Capital One" means the companies have approved it. The government has not.[/quote]

Oooooh, is there a chance that this will not go through?[/quote]

That would be good news for Visa and MasterCard.[/quote]

The merger is not good news for the cc giants, Visa, MC and Amex. Now one of their customers Capitol One owns a credit card processing network -Discover. There goes a lot of transaction fees.[/quote]

If capital one tells their visa and mastercard holders that they now have discover cards, chase executives will be popping champaign [/quote]

Capital One will likely only move certain cards over to the Discover network.  Probably their subprime cards and their basic no annual fee cards with little rewards.  The higher fee cards and those aimed at higher revenue customers will stay on Visa/MC, I am pretty sure.[/quote]

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