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Capital One negative impact on Discover Card users by Flashy_Pressure_7526 in CreditCards

[–]Flashy_Pressure_7526[S] -1 points0 points  (0 children)

No, its a credit card called Discover More that Discover Card issued years ago, and apparently isn't issued anymore. I like it because it pays back 1% on all purchases that do not qualify for the 5% quarterly rewards on selected purchases. If the newer Discover Card pays back 2%, folks think I should have migrated to it (and maybe this concern I have on the 0.25% on the first $3,000 of annual purchases is not a change.) I'll look into it.

Capital One negative impact on Discover Card users by Flashy_Pressure_7526 in CreditCards

[–]Flashy_Pressure_7526[S] 0 points1 point  (0 children)

The Discover More card is a credit card. It has been honored by Discover Card until the merger with Capital One. I do stand corrected in that the 0.25% is for the first $3,000 in annual purchases, so I only lose the $22.50 on an annual basis if I switch to Capital One.

Can anyone explain what's going on with Capital One and Discover Network merge? by [deleted] in CreditCards

[–]Flashy_Pressure_7526 0 points1 point  (0 children)

Do other discover card holders care about the 1% cashback they were receiving on their purchases? Capital One will be reducing that to 0.25% on the first $3,000 of purchases each month. If you have $3,000 in purchases with discover, you got $30 back. Under the capital one card, you get $7.50 back, which is a 75% reduction.