Capital One has announced that it will be switching the Capital One debit card from the Mastercard payment network to the Discover payment network. New cards will be issued and they will have new 16 digit card numbers, CVV codes and expiry dates.
Capital One & Discover recently merged, to this isn’t a huge surprise. The big question is if Capital One will transition credit cardholders over at some point too.
what about the 12 virtual credit cards i have for different services will i have to generate new cards for all of those
When can I convert my Discover Cashback Balance to Venture X miles? 🙂
I am curious if this will impact Capital One offers/eligibility or if that will remain the same. Discover is extremely strict (I have been trying to get a bank account with them for 5+ years) and have never been approved. I’ve had/have bank accounts with 15+ different banks/credit unions and have/had multiple credit cards with 15+ banks/credit unions, except Discover. I’ve never burned Discover and have applied with a non LOL and LOL Chex record.
Probably no bearing at all. It’s like comparing the approval criteria for a real Amex vs the Credit One Amex.
Do you have a Discover credit card? I ran into a problem getting an account years ago but got the card and then the savings account.
Nope. Nadda with them
My Mastercard debit card expires on February 2026 so does that I mean will switch to Discover Network once I get replacement?
My guess is you would receive the new card well before then
I wonder if switching to discover network would affect availability of international ATM withdraws?
The Pulse network is worldwide. I’ve used my Discover debit in Europe ATMs. It’s been awhile though, rarely have I taken out cash in years.
There is a chance users could request a Mastercard based on needs. Some banks have done something similar between Visa/master in the past.
If they’re completely moving to the Pulse network, Mastercard doesn’t run on that. But time will tell.
Makes $ense that they would want to be on Pulse network since Discover owns that. Why pay MC network when you own your own?
discover is actually better due to its various international partnerships with UnionPay JCB etc.
In theory, but acceptance is still not at the same level as Visa or Mastercard. Even in Japan there are times that Discover just doesn’t work as expected at a JCB merchant despite the partnership. JR rail was a long problem with claimed acceptance in 2020 but reality it was mixed. Supposedly this is now fixed, but I would not rely on going to Japan with only a Discover card.
It should not. Don’t forget that Discover owns Diners Club network as well. I’ve used Discover card for international ATM withdrawals against their (old version) savings account since last century.
It seems like the plan is to transition debit cards over first, and then eventually Capital One credit cards. Debit cards probably make up a higher % of total Capital One cards, so it will boost the number of people using Discover network cards, and thus promote the Discover network.
What I’m curious about is the timeframe for the transition. We may see cards being transitioned over in groups, like how the Propel card became the Autograph card for Wells Fargo. I suspect this process may take over a year.
Capital One credit cards will probably be transitioned over when each of the card agreements with Mastercard/Visa expire.
Now if they just let me load 10k/month at Walmart like Discover does, I’m ok with it
I’m expecting mass shutdowns any day now………but hopefully not.
They allow $5k, but at Walgreens and CVS instead. I don’t think you can do the manufactured spend though since it seems to require cash.
leave it to cap 1 to destroy EVERYTHING. just watch
I’m looking forward to 3 card networks in the future.
I guess we don’t get the cash back that the discover debit offers. I thought capital one might introduce that.
Funny thing is that I ordered a new debit card, wonder if they will give me it as a discover or if it’s there normal.