Capital One Bank is headquartered in Mclean and is the largest bank in the state of Virginia. It is also the 9th largest bank in the nation. It was established in 1933 and as of December of 2013, it had grown to 24,874 employees at 935 locations. Capital One Bank's savings rates are 44% higher than the national average, and it has a A health rating.
Sometimes your payment doesn't get there. Could be lost; could be a bill-paying-service scrëw-up; could be forgetfulness or bad software. Who knows?
But Capital One sets a new standard for stupidity by refusing to inform customers if the due date comes and goes, and they haven't gotten your payment. It is essentially FREE to send an E-mail. They pester customers with marketing E-mails all the time. But they refuse to inform customers of critical problems with their accounts. Instead, they'll wait two and a half weeks and then just cancel the card without any attempt to notify the customer.
The same thing goes for security breaches. If a vendor is hacked and your credit-card number is among those stolen, Capital One will not inform you. Again, not even a free-to-send E-mail. They will simply cancel your card and let you get into an embarrassing or, worse, a hugely problematic situation where your credit card is no good.
There's no excuse for this offensive disregard for the customer's security, time, and value to the company.
We made the switch last year from BOA (no interest), and took advantage of Capital One Bank's High Yield Checking Promo (guaranteed for 1yr). See Ken's lastest post;
The account has been great, and has worked well for us this past year as our main acct for bills. It has paid 1% for almost the entire year (one dip over the summer). Free checks and free online transfers (3 days).
Opened at the near by local branch. No problems at all. Also opened a High Yield Costco/CapOne MM acct online, paying .70% (no longer available). No problems there also.
Branch CSR's are all very helpful and friendly. Talking to one of the CSR's the other day, they said that after our promo 1% interest ends next month, the rate will drop to .20 to .25%. Also told me that if we wanted to continue to get 1% interest on our checking, we could close down our current account and open a new one, for another year of 1%. That is how they can 'fool' the system for a 'new money' account. I don't think we'll do that though, because I don't feel like closing, opening, then closing again an account within a year. Not worth it. If we wanted to, we could also convert the account to one of the rewards acct's, but don't think we will do that either. >>>The CSR did imply that the High Yield Checking Promotion may be ending soon. <<<
Opened a Ally checking and savings acct to replace as our main accounts for now, but will keep the CapOne MM open for cash deposits convenience plus we have SD Box there. Just can't give up a brick & motar. The Costco .70% rate will end Dec. 31st and will dip to .60 to .65% the CSR said.
Over all though, positive experience with Capital One. Curious about what they will offer in the future for direct banking (ING). Guess will find out next year sometime.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Capital One Bank had $2.22 billion in non-current loans and owned real-estate with $35.27 billion in equity and loan loss allowances on hand to cover it. This gives Capital One Bank a Texas Ratio of 6.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Capital One Bank experienced no significant changes from 6.33% as of December 31, 2012 to 6.30% as of December 31, 2013, resulting in a positive change of 0.49%.This indicates that the balance sheet and financial strength for Capital One Bank has had no significant changes in recent periods.
In the past year, Capital One Bank has decreased its total deposits by -$3.39 billion, resulting in -1.77% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Capital One Bank has shown is average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Capital One Bank has $238.48 billion in assets with $35.27 billion in equity, resulting in a capitalization level of 14.79%, which is excellent.
|FDIC Certificate #||4297|
|Assets and Liabilities|
|Equity Capital||$33.66 billion|
|Loan Loss Allowance||$1.61 billion|
|Unbacked Noncurrent Loans||$2.11 billion|
|Real Estate Owned||$112.01 million|
|Historic Data - December 2012|
|Equity Capital||$36.64 billion|
|Loan Loss Allowance||$1.99 billion|
|Unbacked Noncurrent Loans||$2.11 billion|
|Real Estate Owned||$201.50 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.32%|
|Return on Assets||0.67%|
|Return on Equity||4.67%|
|Interest Income||$10.16 billion|
Always verify rates and promotions with the bank or credit union. We are not Capital One Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.75%||-||$500k||Business Advantage Savings|
|0.20%||$25k||-||Small Business Clear Advantage Money Market|
|0.40%||-||-||High Yield Free Checking|
|0.20%||$250||$100k||Spark Business Interest Checking|
|0.60%||$1k||-||5 Year CD|
|0.45%||$1k||-||4 Year CD|
|0.35%||$1k||-||3 Year CD|
|0.20%||$1k||-||18 Month CD|
|0.20%||$1k||-||2 Year CD|
|0.15%||$1k||-||1 Year CD|
|0.10%||$1k||-||6 Month CD|