Another $500. Bonus Offer - Capital One 360

[Drake3287]

Now that Ally Bank is paying us off for our recent large saving bonuses, Capital One 360 is offering a similar great deal with up to a $500. bonus.

Open a Money Market account with between $10,000. and $49,999. and get a $200. cash bonus, $50,000. and more gets a $500. bonus. Unfortunately for me I already have an account with Capital One and don't qualify. I took advantage of this same deal a couple of years ago. Technically you can take $50,000. from that new Ally account now and get $500. more.

https://www.capitalone.com/celebrate200/

 

[Souschef]

DW moved some money into Chase and they gave her a $300 bonus if she keeps it there for 90 days. Then she will move it to a 9 mionth CD

 

[sengsational]

Capital One 360 is offering a similar great deal with up to a $500. bonus.

So this is a money market account, right? Is the account insured? Not that I'm too worried about CapitalOne, a huge outfit, going bust right now, but I don't think it's FDIC insured.

 

[jetpack]

It says's FDIC insured. This is like a 3 month CD at 6% interest at $50k.

 

[Drake3287]

Yup, FDIC insured. I've had them for a couple of years now and no issues what so ever.

 

[lhamo]

Note you do have to keep the account open for up to 60 additional days past the bonus period while you wait for them to post the bonus -- I guess you could transfer most of the money out once you have met the bonus requirements, though:

When will I actually get my bonus?
Capital One will deposit the bonus into your account within 60 days following the 90-day period. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus.

 

[Drake3287]

In general most of the different bonuses from these banks require a similar period of time. Still a good deal though.

 

[GalaxyBoy]

I got the physical mailing on this offer and just now funded my new account. The rate on the MM account is currently at 2% APY, not the best rate but with the additional $500 on a $50,000 deposit, it's not bad at all.

 

[mn54]

you are not eligible if you have had an account with capital one 1/1/16 or later.

 

[GalaxyBoy]

To clarify, you are not eligible if you had a deposit account. If you only had a credit card account then it’s good.

 

[sengsational]

It says's FDIC insured. This is like a 3 month CD at 6% interest at $50k.

I guess if you pulled most of the money after 6 months it would run about 6%. If you let it sit until you get the bonus it's more like 4.5%.


When I saw "$500", that seems a lot more than the difference between what I'm getting now, 2%, and the 4.5% I'd get using this account. Better than a sharp stick in the eye, though.

 

[RE2Boys]

you are not eligible if you have had an account with capital one 1/1/16 or later.

Darn, I closed my account on Feb 3, 2016, not eligible.

 

[hopefullyoneday]

DW moved some money into Chase and they gave her a $300 bonus if she keeps it there for 90 days. Then she will move it to a 9 mionth CD

I have that same deal here on my desk. Read the fine print on the back as it says if you close account within 6 months they will take bonus away.

 

[EA-Sports]

What if you have savings not money market, are you still eligible for the bonus?

 

[GalaxyBoy]

Details are in the fine print at the bottom of this web page:

https://www.capitalone.com/celebrate200/

 

[jetpack]

I guess if you pulled most of the money after 6 months it would run about 6%. If you let it sit until you get the bonus it's more like 4.5%.


When I saw "$500", that seems a lot more than the difference between what I'm getting now, 2%, and the 4.5% I'd get using this account. Better than a sharp stick in the eye, though.

The $50k only needs to be there 90 days. You can pull out everything but a $1 and get the bonus.. it's just delayed 60 days after the 90.

"$500 bonus — you maintained a daily balance of $50,000 or more for the first 90 days following the Initial Funding Period
"

 

[njhowie]

I have that same deal here on my desk. Read the fine print on the back as it says if you close account within 6 months they will take bonus away.

We've done the Chase deal a couple of times with multiple accounts. Once the bonus is paid you can reduce the balance to $300 and then come back at 6 months to close it.