Capital One now owns Discover Card through its acquisition of Discover Financial Services, so Discover is part of Capital One’s business.

Quick Scoop: Who owns Discover Card?

  • Discover Card began as a credit card brand launched by Sears in 1985.
  • Over time it ended up under Discover Financial Services, which ran Discover Bank and the Discover payment network.
  • In February 2024, Capital One announced a deal to acquire Discover Financial Services in an all‑stock transaction valued at about 35 billion dollars.
  • Regulators reviewed the deal through 2024 and early 2025 because it would create one of the largest card issuers in the U.S.
  • U.S. banking regulators gave final approval in April 2025, and the acquisition officially closed on May 18, 2025.
  • As a result, Discover Financial Services was acquired, and Capital One became the owner of the Discover brand, Discover Bank, and the Discover payments network (including PULSE and Diners Club International).
  • Discover’s own “About” materials now state that Discover is part of Capital One.

Today’s bottom line

So if you’re wondering “who owns Discover Card” right now, the answer is:

Discover Card is owned by Capital One, which acquired Discover Financial Services and its network in May 2025.

Customer accounts and branding have continued under the Discover name, but behind the scenes the parent company is Capital One.

Information gathered from public forums or data available on the internet and portrayed here.