Did not see this one coming! Discover Bank has been challenged and changed leadership last fall 2023. Today Capital One stated they would buy Discover Bank in an all-stock purchase at a premium. Question was asked why? It seems both Discover and Capital One have seen a challenging last period of time and needed to improve their financial performance. Discover took some very big hits financially in 2023. Also, Capital One would control a processing network that could be used to challenge Visa and Master Card. Contacted Discover Bank for the process to liquidate my holdings and transfer to a different financial. Capital One looks to close on the purchase by the end of 2024 or early 2025 depending on the views of the financial regulators. News is everywhere today such as the New York Times, Wall Street Journal, Doctor of Credit , MF and I called Discover. Sad day! :mrgreen: An Add ... Discover has added a heading banner to their first landing page announcing the merger of Discover into Capital One. Also, they said there would be no immediate changes to Discover products and to keep using them as is. Note, when I called in, they informed me of long wait times. Yeah ... I wonder why?
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Fire Discover Bank is being purchased by Capital One

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7 months ago
Mon Feb 19, 2024 8:50 pm
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Dinosaur
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Last edited by Dinosaur on Tue Feb 20, 2024 12:04 pm, edited 1 time in total.
Did not see this one coming! Discover Bank has been challenged and changed leadership last fall 2023. Today Capital One stated they would buy Discover Bank in an all-stock purchase at a premium. Question was asked why? It seems both Discover and Capital One have seen a challenging last period of time and needed to improve their financial performance. Discover took some very big hits financially in 2023. Also, Capital One would control a processing network that could be used to challenge Visa and Master Card. Contacted Discover Bank for the process to liquidate my holdings and transfer to a different financial. Capital One looks to close on the purchase by the end of 2024 or early 2025 depending on the views of the financial regulators. News is everywhere today such as the New York Times, Wall Street Journal, Doctor of Credit , MF and I called Discover. Sad day! :mrgreen: An Add ... Discover has added a heading banner to their first landing page announcing the merger of Discover into Capital One. Also, they said there would be no immediate changes to Discover products and to keep using them as is. Note, when I called in, they informed me of long wait times. Yeah ... I wonder why?
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Re: Discover Bank is being purchased by Capital One

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7 months ago
Mon Feb 19, 2024 10:11 pm
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SoonerSoldier33
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Capital One is buying Discover in a $35.3 billion deal https://www.cnn.com/2024/02/19/business ... g-discover Came over here to post this as well. Not sure how to feel about it yet.
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Re: Discover Bank is being purchased by Capital One

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7 months ago
Tue Feb 20, 2024 10:52 am
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Beefy
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I really dislike like capital one, not going to be happy, when we lose our US based English as a first language customer service, every card now needing a triple hp, and cli being a thing of the past.

I won’t close the card unless it gets an AF but if this goes through my discover card just took a flying leap into the sock drawer.
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Re: Discover Bank is being purchased by Capital One

4 of 5
7 months ago
Tue Feb 20, 2024 11:25 am
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Dinosaur
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Level4 Last INQMonday, April 8, 2024 Gardening For4 months, 30 days, 20 hours, and 23 minutes Next Level in3 hours and 37 minutes on September 8th INQ 1yr onTuesday, April 8, 2025 INQ 1yr in7 months, 3 hours, and 37 minutes INQ 2yr onWednesday, April 8, 2026 INQ 2yr in1 year, 7 months, 3 hours, and 37 minutes Goal24 months Goal DateWednesday, April 8, 2026 Goal In1 year, 7 months, 3 hours, and 37 minutes
Beefy wrote: ↑Tue Feb 20, 2024 10:52 am I really dislike like capital one, not going to be happy, when we lose our US based English as a first language customer service, every card now needing a triple hp, and cli being a thing of the past. I won’t close the card unless it gets an AF but if this goes through my discover card just took a flying leap into the sock drawer.
Moving my Discover Banking as I write, waiting on a wire transfer that will close the banking. Then, will pay off my Discover Card and close it down. Went through some of this back in 2008 when Capital One acquired several banks I just happened to be with. Ended up with eight personal and business accounts. Closed all of them even though Capital One promised to change from a new person or rebuild to credit bank to a regular financial. Told them when pigs fly! They have added some positives, but my memory is long. Three HPs is nonsense and losing the US based customer service to otherwise and a computer that says what is and what ain't for this person, isn't going to fly (only pigs)!!! :( Oh, Capital One took over ING Financial (June 2011) just a few years back that had a large footprint in the St Cloud MN area. Capital One announced the closing of the facility and eliminate 500 Capital One employees the fall of 2023. Seems there is more going on than the press seems to care to write about.
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Re: Discover Bank is being purchased by Capital One

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7 months ago
Tue Feb 20, 2024 3:00 pm
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Bye Felipe. Image
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