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PSA: Capital One drops 360 Money Market savings rate to 0.6%

432 168 February 4, 2020 at 10:28 AM in Finance (4)
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Last Edited by AceWeb February 4, 2020 at 10:55 AM
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PSA: For those that have the 360 Money Market account with Capital one, they dropped the savings rate from 1.5 to 0.6% APY in a tiered system:

A. If your daily balance is less than $10,000, you'll earn 0.5984% on your entire account balance, which adds up to an annual percentage yield of 0.60%.

B. If your daily balance is $10,000 or more, you'll earn 1.4898%

That is most likely due to their new "360 Performance Savings" Account they started. Stay within and create / migrate to new account or find alternatives

Dollar Savings Direct (Emigrant Ban) - currently at 1.8%
American Express Bank - at 1.7%
Citi has a savings account option at 1.85% but they want you to open it with a "package" and has minimums (a bit confusing - do research).

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#2
thanks for the heads up
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sckcnt
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#3
F

That is pretty low
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#4
Hmmm... did you get a notification or something?

My 360 Money Market still shows 1.5%. The Performance Savings shows 1.7%...
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#5
Quote from CeRodz
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F

That is pretty low
We are trying to be more like Europe, apparently, with rates as low as zero or - why not negative?
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#6
Europe AND Japan. Im still hoping 15 yrs refis get to 2.5 APR at some point. I passed on 2.99 APR, but holding out.
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#7
Well, time to hop off that bandwagon...
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#8
Quote from bigboy2007
:
Hmmm... did you get a notification or something?

My 360 Money Market still shows 1.5%. The Performance Savings shows 1.7%...
I got no notification but when I click on details it i snow 0.6% now. I am wondering if they are adding / changing tiers and rates so some may still get 1.5% ?

I guess check / verify at this point.
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#9
Quote from bigboy2007
:
Hmmm... did you get a notification or something?

My 360 Money Market still shows 1.5%. The Performance Savings shows 1.7%...
My money market acct is still at 1.5% but my 360 Savings dropped to 0.6%. I didnt get any notification. Just noticed the low rate one day.

I'm hoping the original poster was referring to the 360 Savings, and that I wont see any drop on the Money Market account.
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#10
it seems i am changing savings accounts every 6 months or so to keep similar rates; anyone know of better options?
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#11
Once you migrate the money to the new Performance account, is anyone aware of a way to close the old account on line? Or do I have to call to do it?
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#12
Marcus by Goldman is another alt with 1.7%
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Our community has rated this post as helpful. If you agree, why not thank ?
#13
Discover online savings is 1.60%. I like it because The Discover Online savings and the Discover credit card can easily be managed on the same website. One less login.
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#14
Quote from NotNotSmart
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it seems i am changing savings accounts every 6 months or so to keep similar rates; anyone know of better options?
Robinhood cash management account is 1.8% but there may be a waitlist.

Public, an iOS only app similar to Robinhood, has a 2.5% APR but capped at $10k. PM me if anyone wants an invite, we'll both get $9 in fractional shares of a good selection of companies. Smilie
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#15
Simple Bank
$0.01-$9,999.99 - 1.75%APY
$10,000.00+ 1.90% APY
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