Capital One $1000 Savings Bonus

diamondx | Dec 20, 2018 | 139 posts since 2011

After all the drama over Ally $1000 savings bonus, I am curious why there has been no mention of Capital One doing the nearly the same thing. Any issues with C1 ? Did I miss a blog ?

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Answers

enduser | Dec 27, 2018 | 64 posts since 2015

Here is the link to that offer which expires on 31 Dec 2018
But... it is based on a potential payout in a years time, not 90 days like Ally's offer.
https://www.capitalone.com/value2018/

enduser | Dec 27, 2018 | 64 posts since 2015

And you must deposit $150,000 to get the $1000 full offer. Anything less the $150,000 you only get $200 bonus.

Open a Capital One® 360 Money Market® account by December 31, 2018, and earn 2.00% Annual Percentage Yield (APY) on an account with a balance of $10,000 or more. Enter the promo code VALUE2018 to qualify for a $1,000 bonus for deposits of $150,000 or more, or a $200 bonus for deposits between $10,000 and $149,999. See details below.

alan1 | Dec 27, 2018 | 322 posts since 2015

Where did you get the information of "a potential payout in a years time"? According to the fine print in the link that you provided:

"When will I actually get my bonus? Capital One will deposit the bonus into your account within 60 days after the end of the Initial Funding Period. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus."

I didn't notice anything saying that the bonus would be rescinded if you failed to keep the funds in the account for one year.

micheleforan | Dec 28, 2018 | 12 posts since 2018

This offer is better than the Ally offer. You can deposit $150000 new money into your new capital one money market account (open it before the end of the year) and then if you get $150000 in there by the end of the 10 day funding period you will earn the $1000. After the 10 days you can take out all the money but not close the account (I would leave a dollar in there). The bonus will be put in the money market account within 2 months of the end of the 10 day funding period. If you get things timed correctly you could fund the account on day 9, and then remove the money 2 days later and make the $1000 for a 2 day investment of $150000. Since timing problems may involve a week, I would say you make $1000 for a week which is better than 33% (annual) interest on the money. Too bad you can only do this once. It is true you may have to wait a couple months to actually get your $1000 bonus. Then you could remove the bonus and close the account if you so desire.

diamondx | Dec 28, 2018 | 139 posts since 2011

micheleforan -- I believe the 150k needs to stay in the account longer than what you are stating. My understanding is at least 60 days....?

micheleforan | Dec 29, 2018 | 12 posts since 2018

diamondx- The bonus is figured on your account balance after the end of the 10 day funding period.(10 days from opening the account). It is the bonus only that will take 2 months to be added to the account. You can take out the money after the 10 day window of funding.

micheleforan | Dec 29, 2018 | 12 posts since 2018

diamondx.....Here is the page that explains the bonus. It was hard for me to find it again. Details are halfway down the page below the green OPEN ACCOUNT rectangle:
https://www.capitalone.com/value2018/

I think you can still open the account now and funds it later.

diamondx | Dec 28, 2018 | 139 posts since 2011

"potential payout in a years time" Where are you reading this information ? From my reading the payout is 60 days ... 305 days less than u state. Please confirm.

alan1 | Dec 28, 2018 | 322 posts since 2015

I asked the same question of enduser, who has not replied. I suspect enduser is simply mistaken However, the payout is not is "305 days less" than 365 days; it is not "60 days". According to Capital One's fine print: "Capital One will deposit the bonus into your account within _60 days after the end of the Initial Funding Period_."

diamondx | Feb 14, 2019 | 139 posts since 2011

Got my $1000 bonus ! SWEET.

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