Lots of speculation but no real data. No, Capital One didn't buy Discover for $35B so they could raise their debit card transaction fee by a few bps. People don

Lots of speculation but no real data. No, Capital One didn't buy Discover for $35B so they could raise their debit card transaction fee by a few bps. People don't use debit cards enough for it to be worthwhile. The real reason is the boring one – there is a lot of value in the Discover brand and network and Capital One wants that.