My issue is that the customer service is so much better with Discover, they’re so much more generous at giving credit line increases than Capital One, and I love their rotating category card (I can easily max out three quarters on the Discover It card, while I can generally only do that for two quarters on the CFF) and I have a feeling that Capital One is going to ruin it.
Agree on the Discover customer service. Discover is great on that. Disagree on the CLI's. I am happy for you if you are getting CLI's from Discover. That's awesome. Wish I knew your secret. I've had mine for a decade and it still has the same limit. My Cap1 cards and Amex cards have continuously grown. I've given up requesting CLI from Discover, even though it's a soft pull. Not just me, there are many threads about Discover not giving CLI's to be found, for example, on Reddit and MyFICO forums.
@@stevenporter9114that’s a lie. Capital one can’t compare with discover customer service. U should read a forum about them. They’re impossible to get a credit limit increase with.
I am an extremely loyal and happy Discover customer and an extremely jaded ex-customer of Capital One. I hope the government blocks this. They'll ruin Discover so that people are forced to go with them. I'll cancel every Discover card I have before that happens.
Agree, am going to cancel my capital one card. Have been with them for 7 years and they won't rise my credit limit. Its been at 4.5k for 5 years but my discovery card rises my limit every year without asking and am 13k with them and great customers service too😢
Goodbye to the easier approvals, soft inquiries and higher limits of Discover. To be replaced with the hard inquiries for every thing and stingy limits of Capital One.
@JazzyMarineVet two banks merging, or two of companies of this size merging, never benefits the customers like they tell congress it will and it also always means that people will be getting laid off due to duplicate positions.
@@SledgeIncTeam I might agree with the first part but how are there duplicate positions? Do you think half of Discover employees are getting laid off so that Capital One employees take on their duties too, meaning double the work? Do you think C1 employees would be okay with that? And they are different companies. Discover will likely continue to exist as a separate division. Not true at all. The people who are at risk of losing their jobs are management positions. Those are the only positions that one could argue have responsibilities that will overlap with other managers.
True. But also merchant fees could be lowered for discover. Discover for me is my lowest cards not because of the brand but vendors just don't accept discover.......
@@SledgeIncTeamyes it does lol plenty of times. I know plenty that benefit from sprint merger with T-Mobile. Atnt and Cingular merger. 😂 Even mint Mobile being bought benefit the ones still on mint cause they use the better network now. You have no clue what you're talking about, this doesn't hurt the cc space neither were even top 3 largest issues and even with the merger wouldn't change that. Also putting discover network further out helps the consume because it potentially lowers the reach visa and master have, on top of adding more product change for discover users since you can't product change in discover anymore. So you have literally no clue what you're talking about. You just Make a few RU-vid videos and think you know everything about finance and how business runs😂
there is just no way this gets past anti-trust laws, like this is the EXACT scenario they were designed to prevent. Then again, this is America - corporate consolidation is just part of our culture
Discover annoys me because they don't do product changes, literally won't let you have had their secured unsecured for a long time and won't even let me switch cards to the rotating it lol
I’ve had Discover since it was owned by Sears, and AMEX just as long, never had problems, and if I did customer service was exceptional. Capital One is not on the same level, or even close.
If I have the current Savor One (Mastercard) and they change it to Discover, do I stay with my version of the card or do they force me to the new version?? I would hate that honestly..
I have capital one Quicksilver and Discover really dont notice a difference in customer service not really worried about it hoping they dont eliminate Discover.
Rarely do mergers make sense for shareholders and consumers. It’s just a way for managers to grease themselves. This one is different. This could prevent the visa Mastercard low cost duopoly.
As a DFS shareholder I’m not happy about this deal. Let’s be real COF is a shitty company in comparison. Discover has the best customer service in the business repeatedly rated better than American Express and Capital One has some of the shittest customer service. Discover is also extremely shareholder friendly and as a dividend investor they are one of the best financial stocks in the market. Capital One on the hand jas an extremely piss poor dividend distribution compared to Discover and even compared to the financial sector in general. If your DFS shareholder this is a shitty deal for you if your a COF shareholder it’s a great deal.
I’m hoping the merger doesn’t happen as I have accounts with both. I’ve been with Capital One a long time with credit cards, checking and savings. I have been looking to leave them for a myriad of reasons. Over the years, Capital One has taken over some of credit cards causing me to shut down accounts because there were too many cards. When I reach out to Capital One for a credit increase on one of the old original Capital One cards, the response is you have too many accounts. I’m like stop buying and pay attention to what’s a credit card and what’s a bank account so you can’t say I have “too many open accounts”. I haven’t been a fan of Capital One for years now. I enjoy Discover.
Bro this is so strange, I have the 1% cash back debit discover card. Yes you heard me correctly. I have the discover debit card, how is this even going to make sense for capital one? I wonder if they are going to leave the debit card at 1% cash back. I hope so as I prefer it over credit card debt. I guess I’ll wait to see what happens.
ehh.....i think DFS is stronger by itself and Capital One is being very opportunistic. I hope the regulators block this, I don't think there is as much synergy as they think there is. I also don't think DFS is the best run credit card company, but I don't think capital one improves that.
Between the venture x launch and this acquisition it seems capital one is gearing up big time to take on amex and chase and I'm all for it. They already have a really good banking platform as well so this could be great for end consumers.
@Jiggy609 no reason not to be a fan. They've stepped their game up from being a subprime focused bank to going in more of a fintech direction with good solutions for prime customers. A good product is a good product no matter what way you cut it. Additionally a massive merger like this helps to expand discovers network and make it more competitive thus making the whole market better for consumers and vendors.
Likely will pass. The duopoly has existed for many years and politicians and small businesses are increasingly frustrated at the swipe fees. More competition will hopefully improve that.
Funny people expect capital one To give them higher credit limits But spend less then a Hundred dollars a month On there cards I run all my Activity through my capital one Cards and they give increases To me and not the b.s. $100 Or $300 that everyone else Keeps complaining about
Well some people only have a credit limit of 200-300, how are your going to spend more than 100 a month?. A couple years back my gf applied for capital one and received a limit of 300 and some weeks later she applied for a discover card and the limit was 1500......I get your point but for people who are just starting is not a good point
As a banking account customer, I think it would be great if you could load money onto your Discover card from the Walgreens and CVS like you can with Capital One. I think that they’re gonna be a good match with each other if they do everything properly.
This is only a good thing if Capital One literally does nothing to Discover. Which won’t happen. I don’t have beef with Capital One but Discover does their own thing very well and is more consumer friendly.
Discover has amazing customer service capital one has the worse customer service of the big credit card companies if this happens I will just have to move to Chase
not in the US so cannot really comment on Discover, but I am interested to see how this might affect international Capital One cards and how this might change the Diners Club brand which has been quite dormant for a while now. With the reach power of Capital One internationally being fairly high compared to discover, it might make Diners Club International cards a little more impactful again.
I hope the merger is approved, I just hope Capital One will follow Discover’s lead and move their customer service to the US. The higher cost of labor is worth it if it brings in more customers because of better service.
I currently have venture x & was planning to wait until 6 months so that I can apply for the savor one and complete my c1 duo. Based on this news should I wait to see what happens to the Savor one card?
The bet of Capital One put up is $0 if this merger deal falls though for the breakup fee. There is a lot on the banking side that is constrained that is underrepresented. Also on the credit side this would give more market share between Capital One and Discover (19%) then Chase currently has (16%). Hopefully anti-trust blocks this. We have in about half the amount of options for banks in about 25 years. About the same for Credit Unions too. And the population increased in that time too. Part of a trend that accelerated in the mid 1980s though has been going on for 80+ years.
My question is about the potential upside for customers. Given how finnicky Capital One tends to be for issuing cards, do you expect that it would get easier to get some of their cards? Especially the mid tier ones like Savor One and Venture?
Yeah I’ll tell you the big difference I think the interest on my Discover card is like 13% and the interest on capital one is like 25 now I pay them both off I have a good score but capital one’s way higher always has been I think it’s the highest interest rate of an e-card I have still
Second time I read about this coming business venture of discover/capital one. At the moment, my heart isn't with the change. I love the customer, service of discover. Credit limit increase is much better than capital one❗As well 5% quarter categories 💯. One up about capital one is their banking branches, are in the same city and state I live in. I know business is business. But will it be good for the people 🤔.
Shout out to Sebby for finding B-roll with the OLDEST laptop I’ve ever seen! 😂 Also, I wish CapitalOne focused on upgrading their transfer partners so my Venture X can be more than my “get into lounges free” card
