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Capital One plans to acquire Discover for $35.3 billion. Here's what it means for the credit card industry and for consumers

Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry. The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News. If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said.

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said. The potential challenge to industry juggernauts Visa and Mastercar...

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said. The potential challenge to industry juggernauts Visa and Mastercar...

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said. The potential challenge to industry juggernauts Visa and Mastercar...