Earlier quoted context omitted.
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This administration causes webservers to be over capacity?
If they have deliberately or incompetently underfunded them, yes.
Discover is now part of Capital One
41–50 of 94 posts
Re: Discover is now part of Capital One
#42Earlier quoted context omitted.
Soon you'll have to put up a "no Discover accepted" sign right next to the "Amex not accepted" sign.
I suspect the trick here is that capitalone issues so many other cards that once they standardize on it, merchants can't refuse their network without losing substantial amounts of business.
Or customers start bailing because no one accepts their cards and the whole thing backfires...
Re: Discover is now part of Capital One
#43It’s Ticketmaster and LiveNation all over again. Business owners going to get gouged. Customers going to see price of items go up as business owners pass along increased transaction costs. Yes - this will also impact you even if you don’t have a discover/capital one card.
Soon you'll have to put up a "no Discover accepted" sign right next to the "Amex not accepted" sign.
How common is it really that Discover isn't accepted these days? I don't have Amex, so not really sure about that, but I've been using Discover for years and I think I've only ever encountered 2 places that didn't take it – and neither of them were worth returning to anyway.
Re: Discover is now part of Capital One
#44I know nothing. But this is an interesting acquisition. Capital One strikes me as a pretty well run org. Why would they want Discover, who notoriously targets the low end of credit card custom? My guess is that this gives them the ability to increase margins by owning the entire payment layer all the way through distribution. If they slash the fees charged to merchants, this could make them quite a powerhouse.
Well run? Haven’t they had lots of legal issues over the years? https://en.m.wikipedia.org/wiki/Capital_One#Investigations_a...
Seems like nothing more than the cost of doing business.
Re: Discover is now part of Capital One
#45Ugh. Moving back to the US after a decade abroad, I had to get credit cards to rebuild my nonexistent credit.
Discover and Capital One both had deposit-based credit cards for credit building, so that's what I started with.
Discover's customer support system was polished and felt like a small company. I'd always speak to a polite native English speaker. When I gave authentication information to the pre-call robot (like card number, name, exp date), the customer service rep could pull up that info instead of asking me to repeat it.
Also, my Discover card kept me up to date with it's upgrade status, eventually going from a $150 credit line to a $1500 automatically and predictably. And again going to a $2500 credit line without my intervention; just from making steady payments.
Capital One's customer support system was awful. It's outsourced and I can't always understand the rep who sometimes gets mad at me for it. Any authentication information I give to the pre-call robot, the rep will ask me for again. Even the dang credit card number that is hard to give to a human. "No, that's Two as in Todd, Four as in Forage..."
And the Capital One credit card I got 3 years ago is still at $150 credit line. Apparently I have to pester them to get the credit line upgrade that the card promises, but why bother with a crappy company when I have a $2500 Discover card and good enough credit to have gotten better cards since then?
But I guess it's no surprise that the worse company to work with is swallowing the pleasant company. Just imagine all that money Discover was wasting by being a pleasant experience, like having credit lines that upgrade automatically and a customer support rep that speaks the same language.
Re: Discover is now part of Capital One
#46Cool. Great company, more competition among the payment networks should result in better and less expensive products. Maybe Discover will finally achieve its potential.
> "more competition among the payment networks"
The exact opposite of what's happening.
Re: Discover is now part of Capital One
#47Ugh. Moving back to the US after a decade abroad, I had to get credit cards to rebuild my nonexistent credit. Discover and Capital One both had deposit-based credit cards for credit building, so that's what I started with. Discover's customer support system was polished and felt like a small company. I'd always speak to a polite native English speaker. When I gave authentication information to the pre-call robot (lik…
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Re: Discover is now part of Capital One
#48Cool. Great company, more competition among the payment networks should result in better and less expensive products. Maybe Discover will finally achieve its potential.
> "more competition among the payment networks" The exact opposite of what's happening.
How? The Discover network will be substantially better positioned to influence visa mastercard and amex, which are each expensive and oligopolistic. You know anything about this, or just spitballing here?
Re: Discover is now part of Capital One
#49Earlier quoted context omitted.
Soon you'll have to put up a "no Discover accepted" sign right next to the "Amex not accepted" sign.
How common is it really that Discover isn't accepted these days? I don't have Amex, so not really sure about that, but I've been using Discover for years and I think I've only ever encountered 2 places that didn't take it – and neither of them were worth returning to anyway.
> I've been using Discover for years and I think I've only ever encountered 2 places that didn't take it
Really? For brick & mortar retail, my experience is pretty much only the major retailers accept it. Most small, local, or even regional retailers do not accept it.
Re: Discover is now part of Capital One
#50Earlier quoted context omitted.
as I understand it, Discover gets to charge higher fees on debit cards (than eg visa and mc) due to some regulatory carve out, so capital one wants to take advantage of this and Discover’s payment network
Are you talking about the Durbin amendment? That's available to every bank with assets under $10B, not just Discover. If Capital One wanted higher swipe fees, there's hundreds of small banks that they can partner with to issue the cards. That's what many neobanks do.
Neither Discover nor Capital One are exempt by asset size: https://www.federalreserve.gov/paymentsystems/regii-intercha...
However, Discover is (largely; I believe at least Pulse is available to issuing banks other than Discover) also a three-party network, which is inherently exempt from the Durbin amendment: https://www.congress.gov/crs-product/R41913