This is not as good as the BONUS400 from 3 years ago, but this is the best offer we have seen from Capital One to open a 360 checking account.
Earn $350 with 360 Checking
Update (10/29/23): This has been shortened to end on 10/30/23.
Open with code BONUS350 by
January 9, 2024 and complete the steps below.
1. Open 360 Checking
Open a new account by
January 9, 2024 using the promo code BONUS350.
2. Get direct deposits
Set up and receive at least 2 direct deposits, each of $250 or more, within 75 days of account opening.
3. Bonus time
Your $350 bonus will be deposited into your new account after you complete these steps. See footnotes for timing.
https://www.capitalone.com/bank/bonus350/
Here's the full scoop on how to earn your $350 bonus:
Open a 360 Checking account between 12:00 a.m. ET on August 2, 2023 and 11:59 p.m. ET on
January 9, 2024. When you open your account, ensure you enter in the promotional code BONUS350 in the Promo Code box.
Set up and receive at least 2 qualifying direct deposits each of $250 or more to your 360 Checking account within 75 days of account opening. A Qualifying Direct Deposit is a regular periodic payment, such as salary, pension, government payments (for example, Social Security), or other monthly income that occurs as an Automated Clearing House (ACH) or Real-Time Payment network credit from your employer or an outside institution. ACH credits or fund transfers initiated via the Capital One website or mobile app and wires are not considered a Qualifying Direct Deposit.
When will I get my bonus?
Your bonus will be deposited into your account within 60 days after you have completed the requirements above. This 60-day period begins the day after your second Qualifying Direct Deposit has been posted to your account.
This account is subject to approval. This offer cannot be combined with any other 360 Checking account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Checking account. The amount of your bonus will be reported on IRS form 1099-INT to the IRS (and your state revenue authority, if required).
If you have or had an open 360 Checking, Simply Checking, Total Control Checking or Money Teen Checking account as a primary or secondary account holder with Capital One on or after January 1, 2021, 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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Capone simple checking is about .6apy
4.9% you had quoted, do you mean Fidelity SPAXX?
Is there a minimal guarantee this will be paid each month, in comparison to other Savings accounts that quote 4.3% APY?
I cannot find much details in their product documentation, if you could highlight for me pls?
According to 2020 data, between 5% and 10% of taxpayers pay at the 32% or higher marginal rate. Realistically speaking, the donation should be about a quarter of the bonus or you receive a net bonus of about $262.
Generally: Not
But I didn't look into fine print of this yet
Is there a minimal guarantee this will be paid each month, in comparison to other Savings accounts that quote 4.3% APY?
I cannot find much details in their product documentation, if you could highlight for me pls?
Pls share product literature where this says assured return, until then it maybe baseless claim
As much I researched, your money is not going into money market funds, hence assured APY % is a myth
This is not blind argument, but I didn't find what I was looking, seeking peer help
Because if paid last 6 months, doesn't mean it will next 6 months, that is not how it works with money
Look at performance over different periods, why is YTD returns at 2.67%, when Savings APY averages 4%+ and higher? This makes your statement false
BTW:
Fidelity SPAXX may not be FDIC protected up to 250k
Hope you know what that means?
Update:
SPAXX is not FDIC insured by itself, but brokerage accounts are, effectively safe it appears
https://www.reddit.com/r/fidelity...ic_i
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Thank you for sharing this. I've had a credit card with them for a while but since no local branches I hadn't opened checking or savings but always curious
I have 3 capital one credit cards so I hope that isn't a problem.
I thought about schwab, but there is no bonus with opening an new account and you have to open a brokerage account
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