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


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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Comment #1 by Johnny Alamo (anonymous) posted on
Johnny Alamo
This is sooooo clever. C1 gets people to open an account with a balance transfer from their existing checking, which is about as 'free' as it can get for both parties. No problems here, just a simple transfer.  Next they require 5 purchases with their card within 45 days - again no problem, just verifying usage and getting people accustomed to using the new C1 card. then six months or so later, maybe even less, they deposit a free $125 to your account!

Wonderful! Free money! How Sweeet!    Errrr, not exactly.... because of one simple fact - once accustomed to using this account and card, the only way to collect this free $125 is to close out the account or reduce the balance to a point where C1 will likely close the account.  Close out the account and reap the $125.  Open and close an account, maybe have the account holder force closure, all within a year, and reap whatever that does to your credit score, not good I suppose.   All the while C! benefits a lot: they can loan out X times your initial deposit due to ordinary banking reserve rules; some of this reserve multiplier can be cleverly recorded in a way that is, guess what...Ta Da! The $125 credit to your account!

So far C1 had not spent a dime and has basically just reduced the reserve multiplier a bit and placed a few digits in new places on their account sheets.  Verrrry clever, not illegal and not even immoral, but verrrry clever.  I caution about what I now call the Ebay-PayPall feature, which is that the fine print allows big financials to change anything any time good or bad at their whim, and make those changes without any account holder approval or prior notice of much effect. But for someone wiilling to open and use and then close an account within a half year or so then it is actually a free $125 except for the damage, if any, to the person's credit score. 

Since I'm not buying anything on credit for the next few years I may open this account myself, at least that free $125 can serve as the minimum balance on a card that I can use for specific purchases only, allowing easier recording of, say, tax-deductible donations.  Like they say, nothing in life is free, and forget *that* at your own risk.

Comment #2 by Anonymous posted on
You get the cash on day 50.  What is the minimum amount to have in an account to have it so Capital One 360 does not close it?

Comment #3 by Cracker posted on
They pay fantastic interest rates on a checking account.  It's .80% for a $50,000 balance and .85% on a balance of $100,000 or more.  Nobody beats that.  Ally comes close at .75% on checking, but with no minimum balance.

I could see such a high rate on a savings account, but for checking it's a great deal since there are no transaction limits per month.  I've had an account since 2010 when they were still ING Direct.  I'm happy with the service I have received from them.

Comment #4 by Anonymous posted on
"This has to be your first 360 account". If I opened and closed an account in 2012 using either the BlackFriday or IndependenceDay bonus, will I get the bonus for opening a new 360 account this year?!? What if I opened and closed an Ing Direct Electric Checking from 2009; would I qualify to get bonus for new 360 checking this year?!?

Comment #5 by Anonymous posted on
Careful with these losers......They like to throw promotions around and even will email them to you.......but there is not even any fine print to tell you that you will not qualify if you have had a promotion in the past. I will never waste my time with these people again. I closed all accounts with them. Also.....I have 2 old CD's maturing and will close. Cap One you have lost my business permanently.

Comment #6 by Anonymous posted on
Ken you need to also tell people that this lousy bank will not honor the promotion if you have had one in the past. I would have no problem with this policy.......but these losers will not even put that in the fine print. They sucker you in to opening the account and then reject the promotion. I'm done with them.

Comment #7 by Anonymous posted on
Hey Annon #4.........My advice is  DON'T DO IT!!!!!!!  If you have had any promotion in the past they will reject it......and usually in a quite rude fashion.

Comment #8 by Anonymous posted on
Can someone explain why it would go against your credit record to close the account in say, 4-6 months?  Does this happen with a "normal" checing or svaings account?  Will one receive the bonus9es) if they alreayd have a 'regular" COne account?

Comment #9 by Anonymous posted on
Unless you open a checking account with with overdraft protection (which is considered credit, unless tied to your savings account for overdraft protection which is then not considred credit) they cannot affect your credit score. You immediately receive the saings account bonus upon opening the account with $500, you just can't use the money until after 30 days. I plan on closing both accounts on day 51.