Discover Bank and Capital One are no longer separate companies for banking purposes. Discover merged into Capital One, N.A. on May 18, 2025, and as of this review (September 2026), Discover’s own online savings application page redirects directly to Capital One’s 360 Performance Savings product. If you came here trying to decide which of the two “banks” to open a new checking, savings, or CD account with, that decision has effectively already been made — new deposit applicants land on a Capital One 360 product regardless of which site they start on.
What this article now covers: the parts of the old “Discover vs. Capital One” comparison that still matter — Discover’s still-separate credit card lineup, and what existing Discover deposit-account holders should know about the conversion to Capital One.
The Merger, in Plain Terms
| Question | Answer |
|---|---|
| When did Discover become part of Capital One? | May 18, 2025 — per Capital One’s own FAQ page |
| Can I still open a “Discover” savings account? | New savings applications redirect to Capital One 360 Performance Savings, as verified in this review |
| What about existing Discover checking/savings/CD accounts? | Being converted to Capital One products in batches; Capital One says it will contact affected customers directly |
| Are Discover credit cards affected? | No — Discover-branded credit cards remain a separate, operating product line and network |
| Is FDIC coverage affected for customers with both? | Capital One and Discover deposit accounts have been jointly FDIC-insured under combined limits since November 18, 2025 |
Confirm your specific account’s status directly with Capital One or Discover — this transition has been rolling out in stages, and this article cannot tell you exactly where your individual account stands.
For Existing Discover Deposit Account Holders
If you already have a Discover checking, savings, or CD account, Capital One’s guidance is to keep managing it on the Discover website and app until you’re notified of a change. Don’t assume your account has already converted, and don’t assume it hasn’t — check directly.
Once your account has converted (or if you’re opening a new 360 account regardless), see:
Credit Cards: The One Area Still Genuinely Separate
Discover’s credit card lineup and card network continue to operate independently of this deposit-account transition. Broadly, Capital One’s card lineup has included more travel-oriented options (with transfer partners and airport lounge access on its premium card), while Discover’s lineup has centered on no-annual-fee cash-back cards. Card names, annual fees, and reward structures change over time — confirm the current lineup directly at capitalone.com and discover.com before comparing specific cards.
Bottom Line
Treat “Discover vs. Capital One” as a comparison between a bank and its own newly acquired brand, not two independent competitors — at least for checking, savings, and CD accounts. The genuinely separate comparison that remains is credit cards. For a full overview of Capital One accounts, fees, limits, and contact information, see the Capital One complete guide.
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