Capital One to acquire Discover in $35.3B all-stock deal: Here's what you need to know

David George, Baird senior research analyst, joins 'Squawk Box' to discuss news of Capital One Financial acquiring Discover Financial Services in a $35.3 billion all-stock deal, what the deal means for consumers and the banking sector at large, and more.

[@Boricua0082]

Christ,hope they don’t touch the customer service here in the US because that’s the best part about discover

[@MothGirl007]

I love Discover.

[@taroman7100]

AGREED I'm sure it wont!

[@tweetybird3597]

The lady I talked with on phone was very polite and helpful.

[@alexescobar6131]

Made 243% on this on calls. Thanks dfs

[@Royal-le1ib]

I get offers every few weeks for the Capital One credit card with 29.9 percent interest rate. My credit is 820. What's in my wallet? Not Capital One.

[@user-ly1zz2le2d]

I mean if you make your payments in full, then you don’t even need to worry about the interest rate.

[@taroman7100]

I own both cards but primarily used my Discover. This totally sucks! It's not necessary.

[@YadraVoat]

0% for 21 days though, no?

[@teddybruscie]

Waiting for the mass lay off and increased service fees being blamed on inflation and interest rates.

[@moondog3056]

This is terrible news for Discover customers.

[@john_wick1]

ready for credit card fees hike and massive layoff

[@user-vb6gp3ik5d]

The employees are going to pay the biggest price discover only cares about money. So many discover employees are shocked and scared. In the conference today the ceo said thanks for your support and went in circles and didn’t addressed what will happen at the end of the year to the employees jobs!! Just thank you and basically we are sorry. 😢🤬😡 interest and everything will go up for card holders on both side. I pray the deal gets blocked for the employees sake and for the card holders sake!

[@xorrior4438]

The only legitimate reason for a merger is if a company has something unique and is seeking to merger to gain more capital to spread its product OR if the two entities are legitimately struggling for a second chance. Neither company is particularly unique or struggling. This merger is out of pure greed.

[@mitch20003]

My brother works for discover. I'm concerned he might get laid off.. here comes the restructuring email

[@demaciasolos]

@xorrior4438 What are you yapping about? Both of them are somewhat unique. They didn’t get to the top by being Credit One-esque knockoffs.

[@Menamejeffe]

Look I'm as anti big bank as the next guy but saying there is nothing unique to them is just wrong. Discover is one of the 4 big credit card networks in the US. And of those 4 they even stand out for being both the network and the bank lending money. The only other of the 4 like that is American Express but Discover is still unique since they offer more financial products than Amex who focus more on credit cards.

[@onlywenilaugh6589]

Once it's one or two large companies, we consumers will NOT get best product at best deals believe me.

[@sufthegoat]

Wow

[@bobbyward2440]

I don't like it..Lina where you at..SHUT IT DOWN!

[@jamisonmunn9215]

If Spirit got blocked from being acquired by Jetblue this should be blocked immediately. In Airlines there is United Airlines, American, Delta, plus a bunch of regional players. Visa, Mastercard and Capital One, looks no different.

[@banjammy4116]

I do not like the new format , cannot read the ticker tape. You need to get your priorities right.

[@banjammy4116]

I may as well add you may as well have a worm wiggle across the tv

[@xorrior4438]

No, just no.

[@eco-enjoyer]

Waiting for the collusion between the big credit card companies to charge the customer the service fee rather than the merchant. The second my credit card costs money to use is the second I cut them all and go back to cash.

[@jesseshepherd2061]

Yeah what cash the cbdc they want us all on 😂

[@SK_NJ]

So what if you owe cap 1 and have a discover card? Asking for friend 😳

[@chiquita683]

All your debts are wiped off when the company combines

[@SK_NJ]

@@chiquita683 How and why? 🤔🤷🏽‍♂️

[@jordanslingluff287]

@@chiquita683 That's a weird lie to tell someone.

[@94piedpiper29]

Rich gets rich while the little guy will be laid-off .. and if it does, capital one has horrible customer service meaning all goes down to hell

[@TheContrarian09]

We all need Dave Ramsey.

[@jordanslingluff287]

Why? He's been busted multiple times swindling money from Nashville to build offices that never get built. Like $800k worth of free government money and never built any offices. You think normal people get free money from local governments to do nothing?

[@TheMarc388]

I like Ramsey but I disagree with his stance on credit cards. As long as you’re not impulsive and stupid with money you can make a ton on bonuses and cash back.

[@En4cer2K9]

​@TheMarc388 this. All his message really does is empower people to continue to be dumb with their money. Don't charge what you can't afford, pay your bills on time, and there's no such thing as "debt". Why is that so hard for people to understand? Credit cards are simple to utilize for all the benefits they provide.

[@alexescobar6131]

Until your caught in a pinch and can't pay the debt and keep racking it up because the rich is a stronghold. His methods help you prepare for the rich nkt try and avoid them. We all need to have savings to rely on not plastic debt. Please do your plastic surgery today and cut the cards ✂️

[@En4cer2K9]

@alexescobar6131 exactly how often do people get "caught in a pinch"? That's an extreme example. In day to day life, only charge things you would normally be spending money on in the first place, and pay it off like you would normally pay for anything you buy. And then the card gives you rewards for your categorical spending at the end of the statement.

[@umoabasute9424]

#Facts: of course @SenWarren would be against the Merger between @CapitalOne and @Discover when this merger is all about the consumer. Plus together they would compete with the likes of @Visa and @Mastercard. This Deal is Amazing

[@lianalonge1984]

Cap One to Discover card members: You’re bucketed, you’re bucketed, you’re bucketed . . . 🪣🪣🪣🤣