BIG Capital One Discover Card Details REVEALED

Come back in time with me to roughly one year ago. That brings us to May 2025 when Capital 1 completed their acquisition of Discover. And now today, in May 2026, that leaves millions of us Discover card holders with bunch of these blue shiny cards here earning amazing cash back with no annual fee, wondering if we're going to be converted to something like this. The answer may surprise you. So, let's get into those details. Just yesterday, Capital One sent me this email. And I'm sure many of you out there have received similar one. It came from Discover by Capital 1 with the subject line, "Important notice of change in terms regarding your Discover it account." In the body of the email, they revealed that starting on July 27th, 2026, you will manage your Discover it card using the Capital 1 app and or the Capital 1 website. the actual terms of the customer agreement going into effect few days earlier on July 24th. So, if your curiosity is still going crazy, hopefully you'll have your answer by the end of this video. Up first, we have the brand, meaning the Discover brand. And we now know that the Discover brand and network are not going away, but the way you'll manage your credit card account will change. What that means is as of the July 27th date, we'll no longer be managing our accounts in the Discover app. rather it will be fully integrated into Capital 1 side. Here's little mockup preview of how that may surface. So, we see our Discover it card there under the Capital One app with your credit balance and some net steps that we'll probably see that will then help us finish setting up our account after the conversion. And hey, if that means fewer apps with separate login to manage, this could actually be nice thing. Allow me to also show all of you something very interesting that I've noticed on my own accounts. So, I'd used Capital 1 for some of my banking needs already. Here's my debit card right now. This is actually my new debit card that received within the past few months. And if flip it over while cleverly covering up my card info, you'll notice that this is no longer Visa or Mastercard, which we've seen with Capital 1 in the past, but now the network is already Discover. Up next, we've got to talk about the cashback match, which has been one of the best welcome offers available for Discover products for years. In short, the way this offer worked is that at the end of your first year of Discover card membership, Discover currently matches all the cash back or miles that you've earned from spending on your cards. So, if you had earned, let's say, 250 bucks on cash back from groceries and gas and all that on your card at the end of your first year, Discover would match that with another 250, giving you total of $500 of cash back earned. And the good news here is that this type of promotion will be continued with Capital 1 forever. That don't know, but at least indefinitely for now. Now, another thing that we've loved about these Discover it cards is their rotating 5% cash back in categories that change every quarter. according to calendar that the bank sets. For any of you out there who also have the Chase Freedom Flex, you're very familiar with these types of rewards. And for that rewards program, have some more good news. Per Capital 1, you can continue to enjoy the 5% cashback rewards program with your Discover it Cashback card or Discover More card. It's little surprise though that you'll still need to activate each quarter to continue earning 5% back on whatever the eligible categories happen to be for your purchases up to maximum of $1,500 spent in the 5% categories. And if any of you out there are thinking what I'm thinking, there's really big question on the table right now. If you're not thinking what I'm thinking, I'll reveal to you what the question is at the end of this video in terms of two potential unknowns that we need some information about at some point because right now Capital 1 has not given any answers. Until we get to that point though, we also have some new 5% reward categories coming to these cards. First of all is Capital One Travel. That is going to allow you to earn 5% cash back or in the case of Miles card, five miles per dollar on hotels, vacation rentals, rental cars, and activities when you put those things through the Capital 1 travel portal. We're also going to see new Capital 1 entertainment category, giving us 5% cash back or five miles per dollar on event tickets and other events booked through the Capital 1 entertainment portal. So, this card will be giving us 5% back on whole bunch of great everyday stuff from travel to entertainment to whatever the rotating quarterly calendar happens to allow us. Typically having things like gas, groceries, sometimes utilities, and stuff like that. So, I'm really liking what I'm seeing with the additions to this card and how Capital One is treating everything thus far. Before we continue on here, if any of you out there are like me and have current Discover cards, plus some Capital One cards, therefore, you've got mix of cash back and miles, and perhaps even some other cards from other banks. If you want cool way to consolidate all your rewards, managing your credit score, bills, and more in one place, check out today's sponsor called Matt's Rewards. Matt's Rewards is an app that makes managing multiple credit cards super easy. That's because you can see your cards, rewards, and more in one place. And to make sure you're not leaving value on the table, there's Matt's Rewards Gold, which has several features that absolutely love. First is the benefit trackers for cards that give you statement credits for certain purchases. These trackers show you how much you've used versus how much you've got left and when they expire. Second is the best card page, which shows you which card to use to earn the most amount of rewards by category or even at the locations around you. And this third one is awesome. You know how some banks like Chase and MX allow you to add offers to your card to earn even more rewards? Well, instead of having to scroll through and manually activate each one individually on separate apps, Matt's Rewards can do all of that for you. This makes sure you don't miss out on discount or some bonus points on something that you were going to buy anyway. So, if you'd like to manage your credit cards like pro, simply scan the QR code on your screen, click the link down below in the description, or just download the Master Rewards app and add the code mark during sign up. Whichever method you choose, you can try out the totally free version or get 25% off Max Rewards Gold if you want all the best features. Now, back to the rest of the video. Additionally, we will have new offers added to the card, meaning Capital 1 offers. These will allow us to earn up to 15% cash back or 15 miles per dollar spent when shopping online directly through Capital 1 offers. In case this whole idea is new to you, you'll have to think of this in terms of Amits offers, Chase offers, city offers, etc. So, Capital One has their own equivalent of this. Here's screenshot from my Capital One Venture card, and you'll see that the stuff bots in red says activate shopping offers. With Sam's Club, there's one to spend 20 bots and earn 1,000 miles. And in fact, when you view all the offers, lot of them are like this. Spend certain amount of money and get certain amount of bonus miles. These are in addition to whatever you earn with your card. There are also some other ones that have no specific spend requirement at all. Like with Walmart, it's just an extra two miles per dollar spent. So far, some great stuff here in terms of how we earn more rewards on these cards. But what about the redemption side? With that, there are some changes. First of all, new reward redemption options will be available with Capital 1. Miles card holders may apply rewards for gift card redemptions. And yes, don't worry. You can still redeem for travel as well. This is just an addition to your previous options. Discover cash rewards card holders will be able to redeem rewards to offset eligible purchases made with the card. Next, some of your reward redemption options will change, including rewards may continue to be redeemed for gift cards with at least 5% added value and with new minimum redemption amount of $25. never like to see that, but hey, it is what it is. Also, automatic statement credit redemption is available, but you'll need to reenroll your preferences in the Capital 1 website. That is, if you had it turned on previously with Discover, you'll have to turn it back on once this whole switch over to Capital 1 is complete. Lastly, some reward redemption options will no longer be available after your account moves to Capital 1. Specifically, rewards cannot be applied toward your minimum payment. You will however be able to apply rewards to your account balance as statement credit through the redeem for cash option and pay with rewards with Apple Pay is not available with Capital 1. Now, what happens if you love your card so much that you decide to get your neighbor or your coworker interested in applying as well. In fact, you give them referral link. Will that program continue? Based on what we know right now, the referral program may temporarily be unavailable as we work to help card holders get situated. The answer we have is pretty vague where it may be temporarily unavailable. So, we'll just have to see how this all plays out. But how I'm reading this for right now, it sounds like the referral program will not be going away. This next topic think will interest everybody watching this video. What about new cards being issued and new account numbers? Here is what we know from Capital 1. Primary card holders will not receive new card. In fact, they can continue to use their card now and after their account moves to Capital One. Additionally, places where primary card holder has their current 16-digit card number stored online will continue to work. Most primary card holders will be able to continue to use their current card with their existing card design. Card holders who are reissued new cards may receive new card design based on availability. And as make this video, Capital 1 is working on feature to allow primary card holders to update their card design in the Capital 1 app. My best guess as to why Capital One said that some card holders may receive new card design is if their current Discover card is about to expire or something like that. Mine, however, does not expire until June 2028. So, don't anticipate getting new card anytime super soon. But, if any of you out there get some new card design, let me know down below in the comments what it's like. What about your credit score, your credit limit, and your APR? Let's tackle those topics next. Regarding your credit score, this change, meaning the change from Discover cards to Capital 1 cards, won't be reported as new account, and your account open date will appear as the same date currently reported on your credit file. The credit bureaus will continue to receive updates based on your ongoing account performance. All of that is wonderful to hear. And if you were questioning, does it affect your Chase 524 status and all that? Obviously, the answer is no. If no new account is being opened, then everything will just be transferred over. Interestingly though, my Discover card currently begins with six and my Capital 1 cards begin with four and five. Four having to do with Visa and five having to do with Mastercard. But since Capital 1 now owns Discover, which means they're also bringing the Discover network inhouse, that means all the cards beginning with SITS indicating the Discover network are now going to be part of Capital 1's deal too. So therefore, no card changes in terms of their account numbers will need to take place. How about that credit limit? It will remain the same. However, just keep in mind that Capital One reserves the right to increase or decrease your credit line at any time. And for your APR, well, you'll receive your account terms by email or mail if you haven't already gotten those alongside other important information from Capital 1 that outlines your APR. That's the best place to look because APR varies from card holder to card holder. And this brings us to the great unknown. First of all, we do not know the answer as to whether we'll be able to change from Discover branded card to Capital 1 branded card. couple examples being from Discover it Cashback to the Capital 1 Saver 1 or to the Capital 1 Venture Awards. And the second big unknown, will cash back earned on Discover card be convertible to miles on an eligible Capital 1 card? current example of that playing out is if you have the Capital 1 Saver 1 and the Capital 1 Venture. The cash back you earn here can be converted over to miles on the Venture side. And you do that from your rewards side of your account by clicking on the option called combine rewards. transfer your rewards from one Capital One account to another. For all of you out there who prefer just straight cash back, you'll never need to do this because miles have worse value for cash back. So, earning straight cash is better for cash back. But for any of you out there on team travel, on the other hand, miles tend to be way more valuable because you're guaranteed flat value like cash back, but you also have the option to use transfer partners for way more value if you build your itinerary strategically to allow for that. So, if at some point we can take cash back from Discover card, which has those amazing 5% quarterly categories, and convert all those rewards over to the miles side, it will have been like earning five miles per dollar on gas, groceries, Amazon, or whatever the quarterly category happens to be. Sounds like little bit of stretch, but hey, if Capital One ends up allowing it, that would be huge advantage for choosing Capital One products for travel. Having gone over all those details with you all, if you have any more questions about something that perhaps is more nuanced that we did not cover in this video, this is their FAQ page with lot of great stuff on there. You can also see the link there on your screen, too. Feel free to go over to that page and play around as long as you'd like. Also, before you go and while we're waiting for this new transition to fully take place later in July of this year, if you want to put some more rewards in your pocket, check out the links down below in the description area. one of which is to racketen, great online shopping portal that allows you to earn cash back in addition to your credit card rewards. And you can even switch over your account preferences to earn Emmett points if you prefer those for travel. Also, if you want me to keep you up to date about great credit card offers as they become available and before they expire, feel free to sign up for my totally free credit card offer alerts. And if you want convenient way to manage multiple cards, different rewards, and more all in one app, check out Matt's Rewards as well. Let me know your thoughts about this Capital One Discover merger and the transition taking place down below in those comments. And look forward to seeing you all in the next video.