Some Discover Cards Will Become Capital One Products in July

A year ago, we learned that Capital One and Discover would merge, though there hasn’t been much information shared about the future of the 2 companies since then.

However, that may be changing, as Discover has told some cardholders that their products will be transitioning to Capital One in a couple of months.

Here’s a brief overview of everything we know so far.

Discover It Cards Become Capital One Products Soon

Some Discover cardholders are receiving emails informing them that their Discover it^® Cash Back Card and Discover it^® Miles Card cards will become Capital One products as of July 27, 2026. This was first noticed by Frequent Miler.

Since the transition is still more than 2 months away, there’s time to hash out more details. For now, Capital One has set up an FAQs page that answers some questions cardholders will inevitably have. Here’s a look at what we know now.

The Discover It Name Will Soldier On — For Now

If you have a Discover it card, it will maintain its name and branding, though the card account will be managed on Capital One’s platforms. That includes its website and mobile app (iOS, Android) as of July 27.

It remains to be seen how long Capital One will maintain the Discover it branding (or if it will at all), but for now, cardholders can expect to see continuity in their card’s look.

Key Perks and Earning Structure Remain Intact

Discover it cards will continue to offer their popular rotating 5% bonus earnings category on up to $1,500 in purchases per quarter, as confirmed by Capital One.

Another popular perk, Cash-Back Match and Discover Match, will continue to be offered. Currently, Discover matches any cash-back or miles earned in the end of the first year of having a Discover it card. Thus, if you maximize the 5% rotating bonus category each quarter, your $300 cash-back would turn into $600.

Discover’s referral program will continue after the transition, allowing cardholders to earn $100 for each successful referral to a Discover product, up to $500 per year. Note, however, that it may be temporarily unavailable during the transition.

Finally, each card will move forward with no annual fee.

New Additions Cardholder Will Like

Current Discover it cardholders will have access to new 5% bonus categories after the transition to Capital One, including 5% (or 5x points) on hotels, vacation rentals, rental cars, and activities booked through the Capital One Travel platform, in addition to tickets and events booked through Capital One Entertainment. Plus, after the transition, cardholders will be able to access the cardholder-exclusive Capital One Offers platform.

Redemptions Will Change Slightly

When the transition to Capital One occurs, Discover Miles cardholders will be able to redeem rewards for gift cards, while Discover Cash Back cardholders will be able to redeem cash-back rewards against the cost of purchases made with the card.

While Capital One will continue to allow Discover cash-back to be redeemed for gift cards at a discount, it will institute a $25 minimum for gift card purchases.

The option to set up automatic redemptions for statement credits remains, but cardholders will have to re-enroll in that feature once Capital One takes over these Discover products.

Note that a couple of redemption options are going away. Those include the ability to redeem rewards toward a minimum payment and to Pay with Rewards via Apple Pay, though neither is likely to be considered a dealbreaker.

One Big Unknown

An aspect that remains unknown — but will remain top of mind for many points-and-miles enthusiasts — is how existing Discover rewards and Capital One rewards will interact with each other.

For example, as Frequent Miler points out, it’d be an amazing perk if cardholders could convert a Discover cash-back bonus to Capital One miles, which can be transferred and then redeemed for travel. However, we don’t have any information surrounding this scenario right now.

We also don’t know whether Discover cardholders will be able to execute a product change to a Capital One card, but we should learn more about this as we get closer to the transition date.

Final Thoughts

After some dormancy, we’re finally learning a lot more about the future of Capital One and Discover, starting with a transition of the Discover it cards to Capital One’s platform on July 27. With that comes some changes for existing Discover it cardholders. So far, things don’t look drastic.

With more than 2 months until the transition date, we’re sure to learn more, and we’ll keep you updated as we do.