Capital One $ 35 billion to gain acquisition on Sunday. This is what this means for you

Capital One to get Discover closure on Sunday May 18. The acquisition was surveyed by the federal organizers last month, so Monday credit The card giants are scheduled to merge.

Michael Shepherd, temporary CEO and Discove April press release.

In February 2024, capital She announced her plans To buy Discover For 35.3 billion dollars. Some experts have argued that the merger is not good news for consumers, because Capital One is the third largest credit card company, and Discover is one of the four credit card networks only. This may mean less competition between credit card companies, which leads to high prices and fees.

On the other hand, the deal can give the additional support you need to compete with Visa and MasterCard, which some policy makers say about a ticket in the credit card network market. American Express, the third largest network, is a payment network and source, such as Discover. More competition between payment networks can lead to low scroll fees, which retailers can transfer to card holders.

Although it is not clear exactly what changes will come for card holders, we are likely to start learning more within a month.

What is the following for the first capital and the discovery of credit card holders?

for you Capital cards probably Change cards networksFrom Visa or MasterCard to Discover, at some time after the closure of May 18. This may affect not only some cards and protection privileges, but also as they are accepted. Discover has a narrower acceptance rate than Visa and MasterCard, especially outside the United States.

Any changes will not be immediate, though. In the press statement, one Capital said that no changes will come now or immediately after the closing date. The source of your card will alert you to the changes early, so just monitor the connections.

in JD Power Customer Satisfaction Study Among the cards, both Discovery and Capital One in customer service, so customers should not expect any new difficulties after the deal passes.

The biggest change will be on your card network. Since Capital One has no own network like an American Express, obtaining Discover provides a missing piece. At the same time, Capital One can expand the Discover range by adding its cards to that network.

Although admission rates may change, if you plan this summer trip and you are concerned about Discover acceptance abroad, consider applying for a credit card on the visa network, AmeX or MasterCard.