Capital One is offering their
Capital One 360 Performance Savings Account: Earn Up to $1,000 Bonus Funds w/ 3.5% APY w/ deposits ranging from
$10,000 to $100,000 of external funds (
within the 15-day Initial Funding Period Only) when you
open a new account and fund the account and apply promo code
SPRING23 to receive this promotional bonus offer or when you follow the instructions listed below
Thanks to community member
henry333 for finding this deal
Note, offer valid for New Capital One 360 Performance Saving Account only. If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary/secondary account holder with Capital One
on or
after January 1, 2020, you will be ineligible for this bonus offer.
Deal Instructions- Open a new Capital One 360 Performance Savings Account w/ promo code SPRING23 by May 10, 2023
- Note, offer does not extend to users that have open on or after January 1, 2020
- Deposit up to $100,000+ of external funds during the 15-day Initial Funding Period after opening your account
- Bonus Funds
- Deposit $10,000+ & Earn $100 Bonus Funds
- Deposit $50,000+ & Earn $500 Bonus Funds
- Deposit $100,000+ & Earn $1,000 Bonus Funds
- This exclusive offer will grant you the bonus and a high yield savings rate of 3.50% (APY) Annual Percentage Yield
- Hold the deposit(s) in your account for 90-days after the 15-day Initial Funding Period ends
- Earn the bonus funds in your new account within 60-days after holding
- Note, bonuses are considered interest and will be reported on IRS form 1099-INT
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$50,000 gets you $500
$100,000 gets you $1,000.
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It would be a red flag for example if you open a new account with $100k at once, but that money was unaccounted for or cash. Meaning you couldn't trace it back to another bank, withdrawal , home sale, inheritance, etc.
Suppose I have exactly $100k in a savings acct which requires like a $300 minimum to avoid fees and I wanted to transfer the money to C1 to take advantage of this deal. Do I transfer all $100k out of the account and then close it or would that result in a penalty for the balance not meeting the minimum? Or should I call to cancel the account first and ask the rep to transfer the money to the C1 account?
Also, after keeping my money in the C1 acct for 105 days to qualify for the bonus. If I close the acct on day 106 and transfer the money to another savings acct, where would C1 send my $1,000 bonus if it's not payable until day 165? A check direct to me? Or a deposit to the acct where I transferred the money to?
Thank you in advance for any help on this
When your client is bagging hundreds of thousands in savings, I would expect them to notify you of these changes, or at least tell you of a better way to store your money. Losing a big client is not worth the trouble. I did move my money over, but I am rethininking about staying a C1 customer. AMEX savings seems better to me, and their customer service should be top notch.
They payout the 1k within 60 days after the 105 days. Wondering if moving your money within those 60 days effects anything.
Suppose I have exactly $100k in a savings acct which requires like a $300 minimum to avoid fees and I wanted to transfer the money to C1 to take advantage of this deal. Do I transfer all $100k out of the account and then close it or would that result in a penalty for the balance not meeting the minimum? Or should I call to cancel the account first and ask the rep to transfer the money to the C1 account?
Also, after keeping my money in the C1 acct for 105 days to qualify for the bonus. If I close the acct on day 106 and transfer the money to another savings acct, where would C1 send my $1,000 bonus if it's not payable until day 165? A check direct to me? Or a deposit to the acct where I transferred the money to?
Thank you in advance for any help on this
Not sure about the second part of your question as I'm new to this as well.
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After the first quarter you go back to 3.5%.
So unless you are going to be moving your money around to gain all available promotions, I would look at this as a bonus point for the first year.
Capital One never gave me my $400 checking bonus from 2 years ago.
It is being marketed at 4.88% APY on weekly basis.
I couldn't find much info from their documentation, if it's consistent, likely-going-forward?
Anyone know if it's better than savings account rate, use it as long they offer?
Only if their product documentation has much clarity on possibly consistent 4.88% APR
Capital One never gave me my $400 checking bonus from 2 years ago.
There's plenty of reasons why one might need to keep cash on hand, even if 100k or whatever bonus they aim for is a significant amount to them.
- Does this mean I have to wait until Oct to receive bonus amount ? Or do they credit the bonus after 90 days period ? It's not clear ..
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- Does this mean I have to wait until Oct to receive bonus amount ? Or do they credit the bonus after 90 days period ? It's not clear ..
After carefully reading the fine print of this promotion, this is my summarization.
Initial Funding Period - 15 days
Holding Period - 90 days
Bonus Waiting Period - Up to 60 days
You will receive your bonus somewhere between 105-165 days. Be prepared for closer to 165 days as Capital One looks to maximize their profit margins.