Discover Cards Are Moving to Capital One: What Changes
What stays the same
The core of the Discover it card carries over. You keep the same card number, the Discover it branding, the rotating 5 percent cash back categories on up to $1,500 in spending each quarter, and Cashback Match, which doubles all the cash back you earn in your first year. Your account simply moves onto Capital One's systems rather than becoming a different product. See rotating category cards explained.
What you lose
Two redemption features go away. Pay with Rewards through Apple Pay, which let you spend cash back directly at checkout, is being retired, and you can no longer apply rewards toward your minimum payment. Statement-credit redemptions continue, so your cash back is not stranded; the flexible spend-at-checkout options are what narrow. See best cash back cards.
What you gain
On the plus side, migrated cards pick up new 5 percent categories through Capital One's booking platforms: 5 percent on hotels, vacation rentals, and rental cars booked through Capital One Travel, and 5 percent on tickets through Capital One Entertainment. These sit alongside the existing rotating quarterly categories, so the card gains a set of always-on 5 percent options it did not have before. See what points are worth.
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