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Capital One 360's 2013 Black Friday Specials: $125 Checking Bonus

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Capital One 360 (formerly ING DIRECT) is now offering their Black Friday specials. The specials are very similar to the ones ING DIRECT offered in past years. The offers are available through 12/02/2013. As before, the promotion is primarily targeted to new customers. If you’re new to Capital One 360 (and ING DIRECT), you can easily earn $350 in new-account bonuses.

Click on the banner on the right to visit Capital One 360's Black Friday Sale page. From here, you can view the details of the promotion and apply for the accounts.

Below is an overview of all the bonuses including the three new-account bonuses in which you can easily earn up to $350. Unless otherwise noted, the accounts must be opened no later than December 2, 11:59pm ET.

$75 bonus for opening a 360 Savings Account

Earn a $75 bonus when you open a 360 Savings account. Here’s what is necessary to qualify for this bonus:

  • This has to be your first 360 Savings account (this includes Orange Savings Account, too).
  • Open the account with a $500 minimum deposit.
  • The bonus starts earning interest on day one, but you can’t take it out for at least 30 days.

This is much larger than the typical $25 refer-a-friend bonus for opening the savings account.

$125 bonus for opening a 360 Checking Account

Earn a $125 bonus when you open a 360 Checking account. Here’s what is necessary to qualify for this bonus:

  • Open a fee-free 360 Checking account
  • This has to be your first 360 Checking (this includes Electric Orange, too).
  • Use your Debit Card to make 5 purchases or use CheckMate to make 5 deposits (or a combo of both) within 45 days.
  • The 5 Debit Card purchases can be either signature or PIN-based.
  • Your bonus will be automatically deposited into your account on day 50.

This is a common bonus for Black Friday Sales and for Black Friday Sales. It’s the same amount that was offered last year.

$150 bonus for opening a ShareBuilder Account

Earn a $150 bonus when you open a ShareBuilder Account. Note, this is a brokerage account and not a bank account. I have more details below. Here’s what is necessary to qualify for this bonus:

  • Open the ShareBuilder Account with promo code BFSB2013 - there’s no minimum to open an account.
  • Make 3 trades in your new account by December 27th
  • Offer is available for Individual, Joint and Custodial accounts only. Offer is not valid for IRAs and ESAs.
  • Capital One ShareBuilder, Inc. will add the bonus to your account by 1/15/14.
  • The bonus from Capital One ShareBuilder, Inc. is not available for withdrawal for 180 days after it is awarded to your account.

ShareBuilder is an online broker, but you don't have to invest your deposit in stocks. You can have your sweep account be the FDIC-insured cash balance account. So your initial deposit can sit in this account. This sweep account is intended to be used to hold your cash between trades. You can also invest in mutual funds with no transaction fees. These include conservative bond funds. So if you had considered exploring investments outside of bank accounts, this is an opportunity.

$100 Refer-a-Friend bonus when 2 friends open accounts

Here’s a bonus that existing customers can qualify for, but it requires work and help from your friends. Here is what is required from you and your friends:

  • You have to be a 360 Savings or 360 Checking Customer.
  • You'll get $100 for the first 2 friends who open a 360 Savings, 360 Checking, Kids Savings Account or MONEY using the link in their referral email or your personal referral link between November 29th and December 15th.
  • You'll get $20 per friend at the time they open the account plus an extra $60 bonus for the first 2 friends by December 31st.
  • Your friends can also earn bonuses if they meet the requirements. And if they open their accounts between November 29th and December 2nd they'll even earn sweet sale bonuses ($75 for 360 Savings when they open with at least $500 and $125 for 360 Checking).
  • Your friends must be new Customers as the primary owner of the account.

This bonus is an extra $80 over the typical refer-a-friend bonus that you get for signing up two people.

Other Bonuses

In addition to the above bonuses, Capital One 360 is also offering bonuses for funding a new ShareBuilder IRA and for taking out a home loan. Click on the above banner to see the full details at Capital One 360’s Black Friday promo page.

My Take

If you have been thinking about an internet account, this is a good time to give it a try. As ING DIRECT, Capital One 360 has a long history of making things very simple for internet banking newbies. Also, they have a long history of competitive savings and checking account rates. The rates have rarely been the best when compared to other internet banks, but they have always remained competitive. And the rates have always been much higher than what you can find at most brick-and-mortar banks.

If you plan to maintain a large balance at Capital One 360, the 360 Checking is appealing with very competitive checking rates for balances of $50K and $100K.

One downside with Capital One 360 is that they don’t offer competitive CD rates. I'm once again disappointed that Capital One 360 didn't offer a CD special or other specials that would be attractive to existing customers. It should be noted that CD specials haven't been common with these promotions. The last one was the Black Friday Sale in 2009 which had a special 12-month CD rate. Based on its low standard CD rates (0.40% for terms under 30 months), it appears Capital One 360 doesn't want any more CD deposits.

It is nice to see Capital One 360 (the new ING DIRECT) is still offering this promotion. With ING DIRECT now under Capital One, it shows that Capital One is letting ING DIRECT continue to run its operation without changes. This is a good sign for those worried that Capital One would change ING DIRECT for the worse. If you have seen any negative changes as ING DIRECT became Capital One 360, please leave a comment.


  Tags: savings account, checking account, Capital One 360

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