Posted on 02/19/2024 10:10:55 AM PST by NautiNurse
Capital One Financial is set to acquire Discover Financial Services , according to a report from The Wall Street Journal. The deal could be announced Tuesday, the outlet said, citing sources.
The merger of the two companies, who are among the largest credit card issuers in the U.S., would expand Capital One’s credit-card offerings. The news comes on the back of a Bloomberg News report on Monday that Capital One was considering an acquisition.
Shares of Discover are down 1.7% lower for the year, putting the company at a $27.63 billion market cap. Capital One has a market cap of $52.2 billion and shares of the company are up 4.6% in 2024.
Who’s in your wallet?
What’s in your wallet?
Uncle Sam...
This sucks. I have a Discover card but am blacklisted from Capital One for including them in my bankruptcy 5 years ago.
Discover used to be part of Morgan Stanley.
Two credit cards, both balances are paid in full every month. This makes me a deadbeat by credit card company standards.
Yes and no. True that they wish you had a balance and was paying sky high interest on it. But it's not like they hate you altogether since they're getting ~2% in card processing fees every time you use the card (after paying the 3rd party card processor).
And the banks...
Agree. Discover was probably the most consumer friendly credit card issuer of the big players.
One card earns me 5% on purchases. The other earns me 2%. I am a bona fide credit card deadbeat.
I only use one card and pay that in full every month. Years ago I had heard that credit card companies would cancel you for doing that, so once a year or so I’d let a little bit carry over and use the card as little as possible that month, then pay a few bucks interest. I’ve since heard that the card companies don’t do that, so I no longer bother.
Too big to fail, throw in usury, a sprinkle of nepotism, and a large spoonful of corporatism…
The Senator from MBNA— and Capital One— Joey Bags of poop- Biden of Delaware. Corp registry of Capital One, and i think Greenwood Trust, too.
I would think you’re grandfathered in. I’m just pulling that out of my rear.
I think half of CC companies are “located” in DE.
Delaware is a state that shouldn’t even exist.
Take all of those small Northeastern States and combine them.
And also, this is very important, I don't recommend using credit cards if doing so increases your spending habits -- the cash back benefit is not as good as using that extra spent money on other things like paying off debts or investing in a Roth IRA. An analogy is my pastor, who's still in good shape, could probably move next to a bakery without changing his diet, but I can't. LOL So he should have no problem moving to a house near a bakery if it's a good price and situation, but maybe I should look for a house elsewhere so I'm not tempted to eat more than I should. That's my suggestion for credit cards -- use them only if they don't change your spending habits.
I also once per year cycle through each of our credit cards and buy something on each one -- something I'd buy anyway like next week's groceries or the next gas fill-up. But keep all of them "active" so they're not automatically closed for inactivity.
Like you, I don't carry a balance. Like you I realized that it doesn't increase your credit score -- only the activity increases your score. My wife and I have both 850 out of 900 credit scores. Part of that is from paying off debt and building up wealth ... by not overspending on our credit cards and using our excess budget money in wiser ways.
“Delaware is a state that shouldn’t even exist.
Take all of those small Northeastern States and combine them.”
That would be brilliant if it were possible. It could eliminate a number of communist Senators, and go a long way toward allowing real American Senators to begin to repair the damage the left has done.
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