Update 7/1/2013: The Financial Independence Days Sale has begun. Please refer to my Financial Independence Days Sale review for the full details.
Capital One 360 is continuing the Independence Day promotions. On Capital One 360’s home page, they’re advertising the upcoming “Financial Independence Days Sale”, but as usual, there are no promotion details. The sale begins on July 1st 12:00 AM ET and ends on July 3rd 11:59 PM ET (next Monday through Wednesday). We'll have to wait for Monday before we can learn all the details.
Update: I just received this from my Capital One 360 contact. It provides a few details about the upcoming promotion:
– Customers who open their first 360 Checking Account can earn a bonus of $100 for 5 card transactions and/or any CheckMate* deposits within 45 days of opening the account.
– Customers also have a chance to double their deposits during the promotion and through July 18. Customers who make a deposit using CheckMate will be entered for a chance to double that check amount, up to $3,000. For those on Twitter, customers can also follow @capitalone360, tweet what they would love to double using #DoubleYourDough and @capitalone360 for a chance to win $2,000.
The conversion of ING DIRECT to Capital One 360 was completed on February 1st. It wasn’t clear if they would continue all the past ING DIRECT promotions, but it looks like Capital One is letting Capital One 360 (the new ING DIRECT) operate like it has in the past.
For the 4 years, ING DIRECT has offered promotions on Black Fridays (after Thanksgiving) and before the Fourth of July. You can see what they offered in past promotions in my old posts:
- 2012 Black Friday offers: $125 EO bonus, $10 Kids Savings account bonus, refer-a-friend promotion, Debit MasterCard cashback bonus
- 2012 Independence Day offers: $152 EO bonus, $76 ShareBuilder Brokerage Bonus, $27.76 MONEY account bonus, $17.76 Kids Savings account bonus, refer-a-friend promotion, ShareBuilder IRA rollover bonus
- 2011 Back Friday offers: $107 EO bonus, $32 MONEY account bonus, $27 Kids Savings account bonus
- 2011 Independence Day offers: $126 EO bonus, $76 ShareBuilder bonus, $76 IRA bonus
- 2010 Black Friday offers: $103 EO bonus, 2% 3-year IRA CD
- 2010 Independence Day offers: $76 EO bonus, $76 Sharebuilder bonus
- 2009 Black Friday offers: 2% 12-month CD, $121 EO bonus
Note, the Electric Orange (EO) account is now called 360 Checking. Nice EO bonuses have been common. The size of these bonuses have often been larger than the standard bonuses that are regularly offered. However, these bonuses have only been for new EO/360 customers. Readers have commented that the bonuses were only for those who NEVER had opened an EO/360 Checking before. Apparently, Capital One 360/ING DIRECT has been very strict about this.
Most of the past promotions have been for new customers, but last year they did include some promotions applicable for existing customers such as the refer-a-friend promotion and the debit card cashback bonuses.
The 2009 Black Friday had the best promos for existing customers with a competitive rate on its 1-year CD. We haven't seen another CD promo since then, so I'll be surprised if we see one this time. With a 1-year Capital One 360 CD rate that's currently only 0.40%, I don't have much hope for a good CD deal. Its CD rates have been uncompetitive (compared to other internet banks) for the last several years. It’s strange that Capital One 360’s savings account currently has a higher rate than its 48-month CD.
You can see how Capital One 360 checking compares to Ally's checking account in my new internet checking review.