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.
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😢
@@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.
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 RUclips 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
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..
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 have capital one Quicksilver and Discover really dont notice a difference in customer service not really worried about it hoping they dont eliminate Discover.
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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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
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.
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?
So if this merger is not yet complete and you have good credit and have a couple of Capital One Credit Cards, but no Discover cards yet, would this be a good time to apply for Discover credit cards?
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.
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.
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
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.
I wonder if Capital One would go beyond issuing Discover for their own cards and take AMEX's approach and provide the ability for other banks/companies to issue cards off their network, too. I see that as a win/win for both sides.
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 🤔.
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
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Moomoo is the Temu of brokerages... but this deal is very tempting.
Capital one is the last company I wanna see merging with any other creditor
Why?
I am so worried about the quality of Discovers customer service going down and lowering credit limits
It will happen
You and me both 🤦🏾♂️. The best customer service hands down
Same
I agree. Customer service is one my perks😊.
Yeah Discover Customer service is great and Credit Monitoring
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.
I've found the exact opposite to be honest.
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😢
I agree, I love Discover, but I am not a big fan of Capital One.
Same @@ratzelbarreto2070
Agreed
Yep yep
I had my Discover card since 2009 and I love it, I hope it stays the same
It will, if the deal goes through Capital One has already come out and said that it would keep the Discover name intact
@@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.
This is actually making me consider closing my Discover. I have very low hope of Capital One doing anything beneficial for the customers in this deal.
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.
👍
I disagree, have a higher approval with C1 than Discover. Lol they were mega stingy with me.
I have two Capital One cards, $25,000 total credit line. $10,000 and $15,000. No requested limit increases.
I have hard time getting increase with discover, I get increase with cap 1 often
I get credit raises with neither, but have a higher credit limit with Discover. Capital is super stingy to the point I do not care to use the card.
I've had my Discover card for 16 years now. I don't really expect this to end up being a positive for me or any consumer.
DISCOVER LOVER HERE ... NOT HAPPY TO HEAR THIS. Discover offers a good saving rate, How will this merger affect the Discover savings ???
I was thinking the same thing. Amex savings is looking better, now. Will have to see how things pan out in the next year or so.
Same. I dont want my APY getting tanked with such a large bank.
Both Decent, either one is fine.
Both Discover and Capital One savings have the same APY, so I doubt it would change due to the merge
The high yeild savings account's interest rate is tied to the FED rate. They don't have much control over this.
When Sears created Discover Card, they never thought it is worth more than the company.
This is very bad for consumers. The merge will reduce competition and will increase fees or credit card cost.
I was waiting for the Ask Sebby review!
🙌
@@AskSebby discover sucks @zz Sebby wut the fuck is this shiet sebby discover should have been by themselves and leave capital one alone 🫥🫥
Block it! I dont want capital one anywhere near me!
Boo hoo
I AGREE 👍🏼
I love my Discover Cards. Please don’t let this go through…
I don't care for crapital one at all
I'm hoping that regulators block this
Why? What about this potential merger raises flags with you
@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 RUclips videos and think you know everything about finance and how business runs😂
Discover has been around for years!!! It shouldnt be bought out. They were doing just fine!!
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
I agree. I think this will get blocked
Unless, the size of captial one and discover is bigger than Chase /Or Visa, therefore it may be a anti trust issues
I think a lot of people overstate their knowledge of antitrust law enforcement.
@@oloughla it indeed is, at least @yt, people are friendly; fb is way worse
Why is literally helping distribute market share away from mastercard and visa
More consolidation of financial institutions doesnt seem like a great idea for the public.
Good point. I'll add that more consolidation of just about every industry is a bad deal for the public. 🟠
Having an alternative to Visa and Mastecard that is more viable seems very good to me.
I didn’t know you could spend over 70% of your market cap to buy a company
Expect a triple hard pull on any Discover card application 😂
Good thing I already have one then .lol
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..
Ugh I’m a little worried, I never cared about capital one and I love discover.
I’m just hoping for the best at the end of the day.
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
"what's in your wallet?"
"Discover card..... Why are you clapping and squealing with glee?"
"Oh, you'll see."
what
If it happens, I'm paying my card off and closing the account. Never wanted capital one
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.
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.
We love Sebby!❤ Wonderful Investment Bank level commentary and talking points. Best to you and Mandy this year 🎉
The acquisition that no one was seeing coming
I hate Capital One and their credit cards, I love Discover bank and its cards, if this happens I will have to let go of my Discover cards go.
Thanks for another great video Sebby :) Always know I can grab the latest news
Thanks :)
Nooooo 😭😭discover don’t go!
If this were Amazon buying FedEx or UPS it would never be allowed. Talking about a monopoly
Capital One needs to make approval easier, for people who don't thrive off credit card debt.
I hope the quality of service at Discover doesn’t go down. Also, I hope the benefits of having a card does not get taken away by capital one.
Same.
I hate capital one i hope it gets block!!
I thought about buying Discover shares when I heard the rumors. I didn't pull the trigger 😭
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.
Consumers is one thing but shareholders? lol. Shareholders make a ton of money off mergers regularly.
@@oloughla I only wish I bought more shares of Discover last year.
@@oloughla shareholders rarely make out with mergers. There is ample literature on this topic.
This by far the best explanation and potential impact of the merger, far better than mainstream news.
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.
Found the singular C1 fan
@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.
Extremely insightful video, thanks Sebby
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.
Canceled my discover cards as soon as I seen Capital One.
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?
If acquisition is approved, it will probably take a year to finalize, so why change your plans for 6 months from now?
The SavorOne has no foreign transaction fees. I hope they don’t make it a discover network because it will make it less useful abroad
The amount of layoffs that will happen when the merge. “Reconsolidate” the business
"Maybe pushing the power level over 9000" LMAO Instant sub
Not every merchant accepts discover. I hold both cap1 and disc. Cards. Im wondering what will happen to them.
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.
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.
No one seems to like Capital One .. what is a good bank and credit card????
What would you recommend for vegans or raw foodies or people who don’t eat meat?
I will closed my Discover card now!
I would LOVE if my Capital One went over to Discover. I already have a Discover card and I love their customer service.
how does capital one have over 50K employees and still can't provide good customer service smh
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.
No way this merger will be able to compete with Visa and MC. Discover is always number 4.
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.
Also discovers customer service is unmatched by anything I’ve ever experienced. It’s absolutely wonderful. I hope that never changes.
Will discover checking become capital one 360? Are we too late to get the bonus for discover savings?
Ohh interesting, I have both banks 🤔🤔
Wondering the same thing
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.
They never see or believe this. And we keep telling them.
They won’t.if capital one buys the business they will run it like capital one is ran.
Hopefully, Capital One doesn't ruin the great US based customer service offered by Discover if this goes through.
The turnaround on this was fast!
I am skeptical of this deal
AM. CLOSEING. MY. ACCOUNT. If. Capital take. Over. SMH
New landing place for the Apple Card? Subprime lender(s) and maybe Apple invests some funding and technology?
I am not happy about this... I have heard horrid things about Capital One and I have a bad feeling they will destroy what makes Discover great.
If your credit cards pay rewards, THEY'RE CHARGING TOO FREAKING MUCH.
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
Eh I like Discover as is. Customer service and simplicity… I see I’m not the only one who feels that way either
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.
Wow I had no idea that Discover was a bigger payment processor than Amex lol
i both have capital one and discover it credit card. how will that affect me?
Maybe it’ll be like T-Mobile getting Sprint?
Discover should buy Capital One
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?
Nope business as usual. Discover will be absorbed into capital one. The network is what they want.
So if this merger is not yet complete and you have good credit and have a couple of Capital One Credit Cards, but no Discover cards yet, would this be a good time to apply for Discover credit cards?
Seriously gonna hate losing my discover account. Boycotting capital one
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.
Would this be a good time to get a Discover card?
Personally, i would wait a little.
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.
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
New motto for the new company: “Discover what’s in your Wallet.” 😎
I'm so fucking ready for the asteroid....
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.
Does this mean I don't have to pay them back?
I JUST APPLIED FOR DISCOVER IT
Do you think that a merger would have the condition of spinning off Discover's banking assets to another bank?
hope C1 used their discover IT card for 5% cashback on acquisitions :D
I’m hoping that the regulators approve the merger and I look forward to becoming a discover card member.
I wonder if Capital One would go beyond issuing Discover for their own cards and take AMEX's approach and provide the ability for other banks/companies to issue cards off their network, too. I see that as a win/win for both sides.
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 🤔.
Uhmmm, did I miss the part about what it means for consumers?
Discovers customer service is USA baised. Capitol one's is not. Customer service will suffer.
Are you shore this isn’t a monopoly
the sith teaming with the jedi
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
Dang.. I better apply for Discover before Capital One takes over
Capital one is one of my fav banks I’m not sure what this merge even means but capital one should stay how it is cause it’s amazing
How the hell they let this happen??