Capital One is poised to purchase Discover for $35.3 billion, a move that's more about gaining Discover's payment network than the credit card brand itself. The acquisition could potentially benefit customers by maintaining Discover's popular perks while possibly integrating them with Capital One's rewards systems. Industry expert Dave Grossman suggests this merger could lead to innovative reward structures, like converting Discover's cash back into Capital One's Venture miles. Although the deal is in its early stages and pending approval, the future could hold exciting new benefits for cardholders of both brands without stripping away current rewards.
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