2 of the world's largest credit card companies just merged

[BumRushDaShow]

Source: Business Insider

May 18, 2025, 4:38 PM ET


Capital One Financial Corporation has completed its acquisition of Discover Financial Services.

Richard D. Fairbank, Capital One's founder and CEO, said the deal "brings together two innovative, mission-driven companies" in a press release on Sunday.

"Through the efforts of thousands of associates across Capital One and Discover, we are well-positioned to continue our quest to change banking for good for millions of customers," he said. The companies first announced the acquisition, an all-stock transaction valued at $35.5 billion, in February.

At that time, Fairbank said the acquisition was a "singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies."

Read more: https://www.businessinsider.com/capital-one-acquires-discover-credit-card-companies-2025-5

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REFERENCE - https://www.democraticunderground.com/10143443333

[OldBaldy1701E]

1. Wonderful.

Now, we have monopolies developing in most big businesses.

Soon, there will be one company for everything and those rethugs will control it all.

Unless we stop them.

[mdbl]

3. and it will sell Brawndo.

[Historic NY]

2. Great I had to go through hoops to pay my

last Kohls card because they took over and changes all the account numbers w/o issuing replacement cards. I've had a Discover card since 1982 that I got for Sears. I would give it up but your credit score takes a hit when you drop a card.

[cadoman]

4. the same Capitol One that _was_ being pursued by CFPB till Dumpf came along

Yes, the very same...

[LudwigPastorius]

5. "...we are well-positioned to continue our quest to change banking for good for millions of customers"

[FakeNoose]

6. I think it was comedian George Carlin who used to say

... "sooner or later we're all going to be owned by ONE BIG BANK!" He told it like a joke, but it was really a true statement.

[electricmonk]

7. I don't have credit cards anymore but

way back when I had a Capital One card. I didn't like them and switched to another bank. A couple years go buy and Capital One buys them. I switch cards again and again a few years later Capital One snatches them up. After the third time I canceled and never got another card. No credit at all for me now. If I can't pay cash I don't need it.