When you think of CapitalOne, the stock symbol is COF. The company has corporate headquarters in Mclean, VA. The company has Jennifer Garner, Samuel L. Jackson, Charles Barkley, Spike Lee, Jim Nantz, and Willie Nelson in their various commercials. One of the slogans of CapitalOne is 'What's in Your Wallet?'. The market capitalization of Capital One is $51 billion. Next, Discover Financial Services has a stock symbol of DFS. The company has corporate headquarters close to Chicago, IL. The company has a market capitalization of $30 billion. One of their slogans is 'It pays to Discover.' Two days ago, Capital One announced that the company will buy Discover for $35 billion. In addition, this merger in the credit card industry will make credit card users live under more pressure from high interest rates. The US public is known to be in record debt, and Elizabeth Warren is one Massachusetts senator that is asking for the FTC to block this deal. Warren is stating that the deal could reduce competition. Visa, Mastercard, American Express and Discover are the four biggest credit card brands in USA. Some stock analysts believe that the duopoly is Visa and Mastercard. In this penultimate paragraph, the author states that he used to have a discover credit card and a citigroup mastercard credit card. In 2015, my two accounts were closed due to debt in both of the credit cards. Currently, my only credit card is a Visa through Bank of America. Discover credit card and Mastercard credit card send me more promotions, for credit card offers. It may be better for me to decline those offers, as most world citizens should stop living in credit card debt. In closing, American Express is a credit card that is not for me. If CapitalOne and Discover merger is approved, it would happen in another 8-12 months. The deal could be blocked, and antitrust issues is the reason why the merger may not be approved. See the picture above of Disover's logo. One main advantage of Discover is earning unlimited 1% cash back on all purchases. You can earn 5% cash back at different places each quarter, when you activate. Hope this feature stays, if CapitalOne and Discover merge into one company.
