On May 18, 2025, Capital One Financial Corporation finalized its $35.3 billion all-stock acquisition of Discover Financial Services, marking a significant consolidation in the credit card industry. This merger positions Capital One as the largest credit card issuer in the United States by outstanding balances, totaling $250 billion.
For customers, both Capital One and Discover have assured that there will be no immediate changes to existing accounts, services, or benefits. However, over time, customers may see enhancements in product offerings, rewards programs, and digital services as the two companies integrate their operations.
The merger also brings together Capital One's extensive banking infrastructure with Discover's payment network, potentially offering more streamlined services and increased innovation in the financial sector.
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