00:00 It's Benzinga and here's what's on the block. Capital One has been revamping its credit card
00:04 program and growing its share of the credit card market in the US, suggesting that it may be
00:08 emulating American Express's business model after announcing its acquisition of Discover Financial
00:12 Services. Acquiring Discover would give Capital One more control over its credit card program
00:17 and access to Discover's payments technology. Discover operates its own closed-loop credit
00:21 card network like American Express, unlike open networks like Visa and Mastercard. This could
00:26 allow Capital One to potentially transition to more of a closed-loop model, providing both banking
00:30 services and underwriting loans. Berkshire Hathaway's investment in Capital One stock
00:35 may indicate it sees similarities to Buffett's favorite American Express. For all things money,
00:39 visit Benzinga.com.
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