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Capital One 360 Performance Savings Account: Earn Up to 1K Bonus Funds w/ 3.5% APY Expired

Deposit 10K-100K+
(New Capital 360 Accounts)
+73 Deal Score
174,911 Views
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
  1. 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
  2. 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
  3. Hold the deposit(s) in your account for 90-days after the 15-day Initial Funding Period ends
  4. 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
  • Deal Image
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Apply Now

Original Post

Written by
Edited April 21, 2023 at 05:09 PM by
You're invited to earn an exclusive bonus and a high-yield savings rate: 3.50% APY. Act now.
Earn $100, $500 or $1,000 based on how much you deposit. Just open a 360 Performance Savings account, make a deposit within 15 days and hold your deposit for 90 days. Plus, you'll earn interest with one of the best savings rates in America.

https://www.capitalone.com/bank/spring23/

See the link for details. Minimum investment $10,000 for 15+90 days.
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Deal
Score +73
174,911 Views
Deposit 10K-100K+
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Featured Comments

$10,000 gets you $100
$50,000 gets you $500
$100,000 gets you $1,000.
·
consider interest, after 90 days you got 1000+875, equivalent to 7.5% APY
·
From the fine print: If you have or had an open 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now or Confidence Savings account as a primary or secondary account holder with Capital One on or after January 1, 2020, you will be ineligible for the bonus. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.
·

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Joined Nov 2007
L6: Expert
> bubble2 1,577 Posts
166 Reputation
suednim
04-24-2023 at 05:06 PM.
04-24-2023 at 05:06 PM.
Life is too short to deal with this outfit. I got screwed with a promo rate that was chopped down after a few mos. and then C1 just started up a diff acct. with a new name to lure in money with a another promo.
Reply
Joined Nov 2016
L4: Apprentice
> bubble2 361 Posts
78 Reputation
dinnid
04-24-2023 at 07:09 PM.
04-24-2023 at 07:09 PM.
They were so much better when they were ING Direct.
1
Reply
Joined Dec 2005
L3: Novice
> bubble2 144 Posts
33 Reputation
TurkeyGuy
04-24-2023 at 10:34 PM.
04-24-2023 at 10:34 PM.
Quote from retto_pyrrah :
Just wondering if moving around $100k on one transaction between banks won't raise red flags to IRS?
It wouldn't be a red flag if they see it was just a transfer from one savings acct to another or a CD, but yes any transfer or deposit of $10k or more is automatically reported by the bank to the IRS. To not have transactions reported, do them in increments of $9,999.99 or less.

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.
Reply
Joined Dec 2005
L3: Novice
> bubble2 144 Posts
33 Reputation
TurkeyGuy
04-24-2023 at 10:46 PM.
04-24-2023 at 10:46 PM.
I had some questions that will probably sound stupid to some but please bear with me as I am new to jumping around between banks to secure a better rate.

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
Reply
Joined Jan 2010
slick_engineer
> bubble2 1,612 Posts
1,203 Reputation
Pro
spicytofu
04-25-2023 at 05:36 AM.
04-25-2023 at 05:36 AM.
Quote from Camaro45th :
I have had a 360 account for a long time. Last week when the Apple savings account came out I checked my APY and saw it was only making .80. I took everything out of 360 as the interest was dismal. But for new people it's a great offer
Same thing with me. I had the 360 money market account for 7 years now. It was great when it opened with 3% APY. I was getting decent money with over 100k in it. Then slowly, and without any notice, it started dropping. I dont even log into this account so I had no idea. Few months ago, I get a letter about this "new" performance savings account with 3.5% APY. Thats when I find out my old account has been making like 0.5% APY for years!!!

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.
1
Reply
Joined Nov 2012
L2: Beginner
> bubble2 33 Posts
10 Reputation
Huyz
04-25-2023 at 08:27 AM.
04-25-2023 at 08:27 AM.
Quote from ElatedSoda4203 :
You only have to keep it end for 90 days. You will earn $875 just in interest during that time. With the extra $1,000 that would be $1,875 for 90 days which is equivalent to 7.5% return for the 90 days.

They payout the 1k within 60 days after the 105 days. Wondering if moving your money within those 60 days effects anything.
Reply
Joined Dec 2006
L5: Journeyman
> bubble2 678 Posts
197 Reputation
outback_97
04-25-2023 at 09:41 AM.
04-25-2023 at 09:41 AM.
Quote from TurkeyGuy :
I had some questions that will probably sound stupid to some but please bear with me as I am new to jumping around between banks to secure a better rate.

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
Deposit another $300 in your first savings account, then you'll still have $300 in there after taking out the $100K and you won't have to close it. Unless I'm missing something that's what I'd do if I wanted to keep the original one open and avoid fees.

Not sure about the second part of your question as I'm new to this as well.
Reply

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Joined Sep 2012
L4: Apprentice
> bubble2 561 Posts
37 Reputation
dreezy
04-25-2023 at 03:05 PM.
04-25-2023 at 03:05 PM.
I opened the link and created the savings account. It never asked me to type in promo code: SPRING23. How do I check if I did this correctly??
Reply
Joined Sep 2018
L3: Novice
> bubble2 142 Posts
18 Reputation
WiseField749
04-25-2023 at 09:19 PM.
04-25-2023 at 09:19 PM.
Quote from Trolleysun :
consider interest, after 90 days you got 1000+875, equivalent to 7.5% APY
But that rate is not sustainable.
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.
Reply
Joined Sep 2006
L8: Grand Teacher
> bubble2 3,392 Posts
243 Reputation
iflabs
04-26-2023 at 03:28 AM.
04-26-2023 at 03:28 AM.
I'd rather invest the $100K in stocks and earn $300 in dividend every quarter. Unless you're balling in income and $100K is your emergency savings, or you're retired or close to retirement, having $100K cash in hand is a terrible financial strategy.

Capital One never gave me my $400 checking bonus from 2 years ago.
4
Reply
Joined Jun 2008
A Red Panda
> bubble2 745 Posts
294 Reputation
briannaw
04-26-2023 at 11:09 AM.
04-26-2023 at 11:09 AM.
Quote from CleverChicken951 :
Has anyone looked at money market fund with Fidelity (ticker SPAXX)?
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?
I'm considering this as well, but I'm really confused with the past performance: YTD Returns +1.33%, 1 Yr +2.34%, 3 Yrs +0.78%. That's a far cry from 4.88%, and makes it seem worthless. I don't understand, can anyone explain why I would do this instead of just a higher savings account?
Reply
Joined Jun 2019
L4: Apprentice
> bubble2 421 Posts
94 Reputation
CleverChicken951
04-26-2023 at 11:39 AM.
04-26-2023 at 11:39 AM.
Quote from briannaw :
I'm considering this as well, but I'm really confused with the past performance: YTD Returns +1.33%, 1 Yr +2.34%, 3 Yrs +0.78%. That's a far cry from 4.88%, and makes it seem worthless. I don't understand, can anyone explain why I would do this instead of just a higher savings account?

Only if their product documentation has much clarity on possibly consistent 4.88% APR
Reply
Joined Jul 2004
L8: Grand Teacher
> bubble2 3,005 Posts
441 Reputation
DiMAn0684
04-26-2023 at 11:45 AM.
04-26-2023 at 11:45 AM.
Quote from iflabs :
I'd rather invest the $100K in stocks and earn $300 in dividend every quarter. Unless you're balling in income and $100K is your emergency savings, or you're retired or close to retirement, having $100K cash in hand is a terrible financial strategy.

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.
Reply
Joined Oct 2021
New User
> bubble2 4 Posts
14 Reputation
rdinesh0331
04-26-2023 at 04:55 PM.
04-26-2023 at 04:55 PM.
Account opened the month of April 2023, within 15 days of opening account, bonus will be paid by October 12, 2023


- 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 ..
Reply

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Joined Nov 2008
L7: Teacher
> bubble2 2,286 Posts
262 Reputation
dualityofman
04-27-2023 at 05:58 AM.
04-27-2023 at 05:58 AM.
Quote from rdinesh0331 :
Account opened the month of April 2023, within 15 days of opening account, bonus will be paid by October 12, 2023


- 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.
Reply
Last edited by dualityofman April 27, 2023 at 06:22 AM.
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