Capital One Taps Discover Users, Challenges AmEx and Chase

Capital One has started rolling out access to Capital One Travel for select Discover cardholders.

Following the completion of its $35.3 billion acquisition of Discover Financial Services in May 2025, this marks an early operational milestone in merging Discover into Capital One’s systems and customer experience framework.

Competing with AmEx and Chase

In the US market, American Express and Chase are widely recognized for their strong travel-focused credit card offerings, premium perks, and integrated rewards platforms. Capital One, although a major player, has not been seen as equally dominant in the high-end travel rewards space.

By connecting Discover’s customer base to its travel platform, Capital One significantly increases the scale and relevance of Capital One Travel. This helps the company position itself more credibly alongside established travel rewards leaders and strengthens its value proposition for customers who prioritize travel benefits.

Scaling travel engagement

Discover’s portfolio includes more than 60 million cardholders, and giving this audience access to Capital One Travel creates a major opportunity for growth in travel bookings and customer engagement. As more Discover customers use the platform to arrange flights, hotels, and other travel services, Capital One can deepen relationships through rewards, targeted offers, and integrated digital experiences.

Push into corporate travel and expense management

At the same time, Capital One is expanding its travel footprint on the business side. The company recently agreed to acquire Brex for about $5.15 billion. Brex provides corporate cards and software designed to automate expense tracking, manage company spending, and control travel-related costs.

This acquisition gives Capital One immediate access to advanced tools used by businesses to handle payments and travel expenses. Together with the expansion of Capital One Travel to Discover customers, the Brex deal shows a coordinated strategy to grow across both consumer and corporate travel segments, strengthening Capital One’s role in the travel and payments landscape.

Photo by Avery Evans on Unsplash