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Capital One 360 Money Market Bonus (existing customer) $150/$450 Bonus for $20k/$50k deposit (YMMV)

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Just received an email today from Capital One. Should be the very first of its kind since I opened their Monkey Market.

Earn a $450 bonus when you deposit $50,000 or more, or earn $150 when you deposit $20,000–$49,999.99, of new money into your 360 Money Market account by June 30, 2020.

This bonus offer is meant only for the original recipient. Those who are not the original recipient will not receive a bonus offer.

Check your email. Should be targeted but I suspect ppl who own the account but doesn't have much money on it will be targeted.

Current APR:

If your daily balance is less than $10,000, you'll earn 0.4989% on your entire account balance, which adds up to an annual percentage yield of 0.50%. If your daily balance is $10,000 or more, you'll earn 0.9954% interest on your entire account balance, with an annual percentage yield of 1.00%
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Created 06-03-2020 at 08:31 AM by Onismurai
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Joined May 2005
hackdagibson
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#2
Did it say when the bonus would post? No email for me Frown
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#3
If you use the promotion code "SCORE500", you will have a $500 bonus instead of $450. Do initial deposit within 10 days after account opening, Maintain the required daily balance within a bonus tier for 90 days following the Initial Funding Period, and earn $100 for every $10,000 (up to $500). I hope it helps a little bit
https://www.capitalone.com/score500/
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#4
Quote from eprove
:
If you use the promotion code "SCORE500", you will have a $500 bonus instead of $450. Do initial deposit within 10 days after account opening, Maintain the required daily balance within a bonus tier for 90 days following the Initial Funding Period, and earn $100 for every $10,000 (up to $500). I hope it helps a little bit
https://www.capitalone.com/score500/
That's for their Performance Savings account and not their 360 Money Market. It's also only available to individuals who do not bank with them yet.
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#5
one of fine print reads

'Any portion of your 360 Money Market account balance, including new deposits, that has been withdrawn and redeposited back into that account will also not qualify. '

Does it means if we previously withdrew funds from 360 account (3+ months ago) and bring back from same external account, it wont qualify?
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#6
I currently have my savings in a CIT Bank high-yield savings account earning ~1.25%.. any thoughts on benefits of moving to this, considering slightly lower APR?
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#7
Quote from nick8ken
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I currently have my savings in a CIT Bank high-yield savings account earning ~1.25%.. any thoughts on benefits of moving to this, considering slightly lower APR?
still get 450 bonus plus 1%. that should better your .25% interest loss.
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#8
Quote from gubbar
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still get 450 bonus plus 1%. that should better your .25% interest loss.
In the long term though, when economy comes back, I'm guessing high yield savings APR will go back up to ~2.25%... any opinion on whether this will be comparable? ( I know this is shooting in the dark.. just curious as moving $50K back and forth doesn't sound appealing )
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#9
Quote from nick8ken
:
In the long term though, when economy comes back, I'm guessing high yield savings APR will go back up to ~2.25%... any opinion on whether this will be comparable? ( I know this is shooting in the dark.. just curious as moving $50K back and forth doesn't sound appealing )
with feds printing money the way they are, have faith in them... interests rates aint going up anytime soon. not at least in 3 months. if you have 50k earning 1.25% as of now... i would take that 450 plus 1% and then decided 3 months later where to move that money. This will be good only if you can park 50k for 3 months.
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#10
Quote from gubbar
:
with feds printing money the way they are, have faith in them... interests rates aint going up anytime soon. not at least in 3 months. if you have 50k earning 1.25% as of now... i would take that 450 plus 1% and then decided 3 months later where to move that money. This will be good only if you can park 50k for 3 months.
Makes sense. Thanks!
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#11
Quote from gubbar
:
one of fine print reads

'Any portion of your 360 Money Market account balance, including new deposits, that has been withdrawn and redeposited back into that account will also not qualify. '

Does it means if we previously withdrew funds from 360 account (3+ months ago) and bring back from same external account, it wont qualify?
Good question. The rest of the fine print:

"Increase your current balance by depositing $20,000 or more of new money from an external bank (Balance Build Deposit) account into your 360 Money Market account ending in 1637 between 12:00 a.m. ET on June 2, 2020, and 11:59 p.m. ET on June 30, 2020. Transfers between Capital One accounts will not qualify. Any portion of your 360 Money Market account balance, including new deposits, that has been withdrawn and redeposited back into that account will also not qualify."

The assumption is:

- withdrawals from and redeposits into the 360 Money Market account between 06/02 and 06/30 do not qualify. I don't see how they can disqualify withdrawals made prior to 06/02.
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#12
For those looking for more info
https://www.capitalone.com/savesafe

Earn a $450 bonus when you deposit $50,000 or more, or $150 when you deposit $20,000–$49,999.99, of new money by June 30, 2020 and keep it in your account until September 28, 2020.

If your Balance Build Deposit balance drops to the Lower Tier at any point between 12:00 a.m. ET on July 1, 2020, and 11:59 p.m. on September 28, 2020, you'll earn the Lower Tier bonus. If your deposited balance drops below the Lower Tier, you will not qualify for a cash bonus. If you make additional deposits after June 30, 2020 to reach the Higher Tier, you'll only be eligible for the Lower Tier bonus.
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#13
Quote from zippy55513
:
For those looking for more info
https://www.capitalone.com/savesafe

Earn a $450 bonus when you deposit $50,000 or more, or $150 when you deposit $20,000–$49,999.99, of new money by June 30, 2020 and keep it in your account until September 28, 2020.

If your Balance Build Deposit balance drops to the Lower Tier at any point between 12:00 a.m. ET on July 1, 2020, and 11:59 p.m. on September 28, 2020, you'll earn the Lower Tier bonus. If your deposited balance drops below the Lower Tier, you will not qualify for a cash bonus. If you make additional deposits after June 30, 2020 to reach the Higher Tier, you'll only be eligible for the Lower Tier bonus.
Fine print copy/paste:

""This bonus offer is meant only for the original recipient. Those who are not the original recipient will not receive a bonus offer. Please don't share it.""

So I guess we need the email to get the offer. No email here.
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#14
Quote from gubbar
:
with feds printing money the way they are, have faith in them... interests rates aint going up anytime soon. not at least in 3 months. if you have 50k earning 1.25% as of now... i would take that 450 plus 1% and then decided 3 months later where to move that money. This will be good only if you can park 50k for 3 months.
Good advice, but, would not assume the 360 Money Market will be earning 1% during the whole 3 months. The rate has dropped in the last month and would not be surprised to see it drop to near 0% by the end of September. Hopefully the rates don't go negative and eat into the 450 bonus. Mad
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#15
Quote from ez1
:
Good advice, but, would not assume the 360 Money Market will be earning 1% during the whole 3 months. The rate has dropped in the last month and would not be surprised to see it drop to near 0% by the end of September. Hopefully the rates don't go negative and eat into the 450 bonus. Mad
Even if they did, most other banks would be similar or worse, so still might as well try to get the bonus out of it?
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