Banking / Banks
You might be familiar with Capital One through its credit cards, but the company has more to offer via its personal banking division. Capital One has physical branches in the District of Columbia, Louisiana, Maryland, New Jersey, New York, Texas and Virginia. It also offers services through online and mobile banking and Capital One Cafes across the country.
Banks want your business, and they’re willing to pay you money just for opening an account. Like other banks, Capital One 360 offers promotions to attract new customers, and they’re currently offering a bonus if you open a new checking account. Plus, read on for the details of their latest credit card offers.
Capital One 360 Checking Account Promotions
New features of the Capital One 360 Checking account may mean it’s worthy of a deeper look. Read on for the details.
Capital One 360 Checking: $100 Bonus
Capital One 360 Checking is an interest-earning checking account that now features Early Paycheck, which means users with direct deposit may get paid up to two days sooner. Plus, it has no monthly fees or minimum balances and also comes with access to 70,000 ATMs nationwide.
- Cash value: $100
Minimum deposit to qualify: $400
- Expiration date: Jan 11, 2022
- How to get it: Open a new Capital One 360 checking account with the promo code SHARE100. Then, receive two direct deposits of at least $200 each within 90 days of opening the account.
- When you’ll get it: If you open your account in November, you’ll receive the bonus by April 30, 2022.
- Terms and conditions: You can’t have held a Capital One 360 Checking account since 2018 to be eligible and your account must be open and in good standing to receive the bonus.
- Monthly fee: None
- Promotion page: Capital One 360 Checking offer
Capital One Credit Card Promotions
In addition to its banking arm, Capital One is known for its credit cards. See what’s available in September.
Capital One Venture Rewards Credit Card: 60,000 Bonus Miles ($600 Value)
The Capital One Venture Rewards card comes with two times the miles per dollar spent. Under this offer, you can get 60,000 bonus miles if you spend $3,000 within the first year of opening. This card also comes with no foreign transaction fees and a $100 credit to Global Entry or TSA PreCheck.
- Cash value: Equivalent to $600 in travel
- Minimum spend to qualify: $3,000
- Expiration date: May expire at any time
- How to get it: Open a new Capital One Venture Rewards credit card and make the required dollar amount in purchases.
When you’ll get it: Applied to your rewards balance within two billing cycles after qualifying
- Terms and conditions: Must be a new Venture Rewards cardholder
- Annual fee: $95
- Promotions page:Capital One Venture Rewards credit card offer
Capital One SavorOne Rewards Credit Card: $200 Bonus
Like to have fun? This cash-back credit card gives you 3% back on dining, entertainment, and grocery purchases (excluding superstores) and 1% on everything else. Plus, you can earn a $200 bonus when you make $500 in purchases in the first three months after opening.
- Cash value: $200
- Minimum spend to qualify: $500
- Expiration date: Not specified
- How to get it: Open a new SavorOne Rewards credit card and make $500 in purchases within three months of account opening.
- When you’ll get it: Within two billing cycles of meeting the spend requirement
- Terms and conditions: May not be available for existing or previous SavorOne Rewards cardholders
- Annual fee: $0
- Promotion page:SavorOne Rewards credit card offer
Capital One Spark Cash Plus Credit Card: Up To $1,000 Bonus
For those looking for a business credit card, the new Spark Cash Plus card comes with 2% cash back on all purchases, plus an up to $1,000 welcome offer if you meet the purchase requirements. There’s no limit to the rewards you can earn, and they never expire as long as your account remains open. Other unique features of this card include no APR due to its pay-in-full requirement (you’ll incur a 2.99% late fee if your balance is not paid in full each month) and a $200 bonus available every year you spend $200,000 or more with the card.
- Cash value: Up to $1,000
- Minimum spend to qualify: $5,000 in the first three months after account opening to get $500 and $50,000 in the first six months to get $1,000
- Expiration date: Not specified
- How to get it: Open a new Spark Cash Plus credit card and make $5,000 in qualifying purchases in the first three months of account opening to be rewarded with a $500 statement credit. If you continue your spending to reach $50,000 in the first six months of account opening, you’ll get an additional $500 reward for a total bonus of $1,000.
When you’ll get it: Applied to your rewards balance within two billing cycles of qualifying
- Terms and conditions: May not be available for current or previous Spark cardholders
- Annual fee: $150
- Promotions page: Capital One Spark Cash Plus credit card offer
Benefits of Banking With Capital One
Capital One offers other ways to save money via additional banking products and features. Those savings make the bank worth consideration. Here’s more.
Capital One 360 checking and savings accounts are mostly fee-free. The bank does not charge customers monthly maintenance fees or require minimum balances. Customers have access to more than 70,000 ATMs, where they can check balances and withdraw cash without paying a fee.
Avoiding monthly fees over a period of time can save you money. Bank of America charges as much as $25 per month for checking accounts. Chase’s most popular checking account charges $12. PNC charges $7 for its basic checking account. That adds up to as much as $300 per year you can save by banking with Capital One.
Saving money isn’t the only way to put extra cash in your pocket. Capital One offers competitive rates above the national average for specific products. For example, Capital One’s 360 Performance Savings account features a 0.40% APY — well above the national average of 0.06% — no matter what your balance is.
How To Open a Capital One Account
Signing up for a Capital One account is a fairly simple process. Here’s how to open an account:
1. Decide where you want to open your account.
Capital One offers customers three options for opening accounts. If you’re new to the bank, you can open an account online or in a branch or cafe. Current Capital One customers can open a new account through the mobile app.
2. Choose an account.
Capital One has checking and savings accounts for adults as well as teens and children. You also may choose a certificate of deposit.
3. Gather and provide the required information.
You’ll need to provide your name, contact information and Social Security number when opening the account either online or in a branch or cafe.
4. Fund the account.
Deposit to the new account within 60 days of opening. You can deposit a check through the mobile app or schedule a transfer from another account. You even have the option of scheduling recurring transfers into the account.
Is It Time To Switch to Capital One?
Capital One’s low fees can add up to big savings over time. You’ll also get better than average rates on interest-earning accounts, and that interest can really add up over time.
Earning Capital One bonuses is great, but it shouldn’t be the only reason you choose a bank. Ultimately, the bank should offer the products and services you need to meet your financial goals.
Julia Gordon contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on promotions is accurate as of Nov. 1, 2021. Additional requirements may apply. Offers and terms are subject to change.
Editorial Note: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Capital One.
This article has been updated with additional reporting since its original publication.
About the Author
Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.