Original Post
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Edited November 4, 2023
at 08:09 PM
by
First post so please feel free to modify
DEPOSIT BONUS
$20,000 +$300
$50,000 +$750
$100,000 +$1,500
https://www.capitalone.com/bank/f...4fy23_1025
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, 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.
Certain deposit transactions initiated through the Capital One website to retrieve funds from your external account are subject to limits. If you are subject to these limits, in order to meet the offer requirements, you would need to initiate the deposit by another external method, such as mobile deposit or setting the initial deposit to send (rather than be retrieved from) from your external financial institution.
Here's the full scoop on how to earn your bonus:
STEP 1—Open a 360 Performance Savings account between 12:00 a.m. ET on November 1, 2023, and 11:59 p.m. ET on December 6, 2023. When you open your account, ensure the promo code FALL23 is entered in the Promo Code box.
STEP 2—Initial Funding Period. Deposit a total of $20,000 or more (Deposit Amount) of new money from externally sourced funds (transfers between Capital One accounts will not qualify) within the first 15 days of account opening (Initial Funding Period).
STEP 3—Hold Period. You will earn a bonus once you've maintained the Deposit Amount of $20,000 or more for 90 days following the Initial Funding Period. The Initial Funding Period is defined as the first 15 days from account opening, and the 90-day Hold Period does not begin until after the full 15-day Initial Funding Period.
The amount of your bonus will be determined as follows:
$300 bonus—The new money deposited from an external bank during the Initial Funding Period was between $20,000-$49,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
$750 bonus—The new money deposited from an external bank during the Initial Funding Period was between $50,000-$99,999.99, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
$1,500 bonus—The new money deposited from an external bank during the Initial Funding Period was $100,000 or more, and you maintained that Deposit Amount for 90 days following the Initial Funding Period.
Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above, including fulfilling the 90-day holding period. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus. If at any time during the 90 days following the Initial Funding Period your Deposit Amount drops into a lower tier, you will be rewarded that tier's cash bonus. If your Deposit Amount decreases to an amount less than $20,000, you will not qualify for a cash bonus. This offer cannot be combined with any other 360 Performance Savings account opening offers. Only one promotional code is accepted per account. Bonus is only valid for one new 360 Performance Savings account. Bonuses are considered interest and will be reported on IRS form 1099-INT.
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Pretty good deal for someone who doesn't already have a Cap360 account (since existing or recent savings account holders don't seem to be eligible).
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sorry for your experience.
cap 1 and us bank are competing with wells fargo for the title of the worst bank ever in the US.
That was the best. $250 for 25k for just 30 days and existing customers... Still unbeatable ..
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I will use 100K deposit for this exercise.
4.3%=4.3/100=0.043. this per month equates to 0.043/12 months=0.0035833. this is what CapOne offers right now.
0.0035833*100000=358.33/moth earning interest. for 4 months 358.33*4=1433.33. you will also get 1500 bonus so total earned over 4 months (a bit more as interest is compounding) is 1433.33+1500=2933.33
2933.33/100000=0.02933 in percentage, this is 0.02933*100=2.933%
I have not found anyone being able to get 3 grand in 4 months for depositing 100K. of course, in the long run, you might earn more with higher interest CDs or other bank accounts, but this bonus is nice. at 5% per year, you will need to hold your money locked for 7 months to make that 3K on a 100k deposit, while with this you will also make more than 1K on top of the 3k if you keep the money in there for 7 months. I would say this is a win in my book.
~3% for 4 months. That's what I came up with too. It's too bad some people don't even know how to figure out APY when there are calculators online just from simple googling. Yearly APY result from 4.3%. Divide that by 12 then add 4 months of holding requirement. Add the sign up bonus. Divide that by the initial deposit amount for just under 3% yield.
$50k deposit = ~$1482
$100k deposit = ~$2964
the 1 year T-bill pays 5.29%, so that would be $5290 per 1 year on 100K. with this offer, 4.3%*100K=4300+1500=5800 (assuming the rates stay the same, could go lower or higher).
i am taxed the same. For someone with state tax, let's say, 10% you have to pay 580 in that year. so 5800-580=$5220. parking your money for $90 does not seem like all that enticing.
by the way, very few states that have tax rates higher than 10%.
so do your due diligence and see what works for your situation.
Assuming $100K investment with 105 days in Cap 1 offer and 5.29% T-Bill for the rest of the year, this is what you will be getting:
First 105 days: 105/360 * 4,300 + 1,500 = $2,754.17
For the rest of 255 days: 255/360 * 5,290 = $3,747.08
Total gain for 1 year = $6,501.25 or $6,225.83 if you assume 10% state tax on the $2,754.17 gain.
That is $935.83(!) more than your 1 year T-Bill at 5.29%, not mere $90. Not a small change for many people. That is because technically you are getting ~10.3% APR for the first 105 days.
That was the best. $250 for 25k for just 30 days and existing customers... Still unbeatable ..
Any link to that deal?
Any ideas?
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