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CapitalOne 360 Money Market Account: 1% APY + $200 Bonus (new *Savings* customers w/ a $10,000+ deposit)

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I don't remember ever posting a money/banking deal before, but this one caught my attention.

Deal Link [capitalone.com]
Quote :
With 360 Money MarketSM, an online and mobile account from Capital One, you'll earn up to 1.00% Annual Percentage Yield—plus a $200 bonus.
  • Use invitation code 200STRONG 200GROW
  • Earn 1.00% APY on balances of $10,000 or more.
  • Boost your savings even more with a $200 bonus when you deposit $10,000 or more by March 31, 2017.
Must not have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before. So, apparently, even if you've jumped on non-Savings Capital One deals before, you should still qualify for this one.
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Created 03-03-2017 at 08:19 PM by deelseaker
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#3
Cool. Applying for both SO and myself.
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#4
Is this a targeted bonus? confused with the wording of "invitation code"
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#5
Is there a hard pull on your credit for this?
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#6
Quote from drparty
:
Is there a hard pull on your credit for this?

i think it's just a hard pull on 10k in cash .
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#7
I got this offer in the mail and signed up and setup a transfer...however upon reading a bold paragraph, in the fine print of the transfer confirmation email, I decided against the account and cancelled the transfer...the $200 in 6-8 weeks and 1 percent rate are definitely tempting though.

"Securities and services are: Not FDIC insured · Not bank guaranteed · May lose value · Not a deposit · Not Insured by any Federal Government Agency"
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#8
How many SDers have $10k in cash lying around that isn't already in a "high interest" online account? Their regular rate for savings account is 0.75% so the difference is only ~$25 over a year. Not sure that would be worth setting up another account to manage at a new bank.

Edit: Ally bank is 1% all the time, no min balance.
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#9
Quote from david_kay
:
I got this offer in the mail and signed up and setup a transfer...however upon reading a bold paragraph, in the fine print of the transfer confirmation email, I decided against the account and cancelled the transfer...the $200 in 6-8 weeks and 1 percent rate are definitely tempting though.

"Securities and services are: Not FDIC insured · Not bank guaranteed · May lose value · Not a deposit · Not Insured by any Federal Government Agency"
Money market or bank account is not the same as a securities account. Securities is basically stocks, bonds, etc. This account is fdic insured.

Quote from weikewl
:
How many SDers have $10k in cash lying around that isn't already in a "high interest" online account? Their regular rate for savings account is 0.75% so the difference is only ~$25 over a year. Not sure that would be worth setting up another account to manage at a new bank.

Edit: Ally bank is 1% all the time, no min balance.
Free 200 on 10k is like a 2% annualized return on top of the 1% interest rate.
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Last edited by thecompdude March 3, 2017 at 11:04 PM. Reason: Automerged Doublepost

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#10
thecompdude is correct. otherwise I would not leave my $ in their 360 saving acct.

Quote from david_kay
:
I got this offer in the mail and signed up and setup a transfer...however upon reading a bold paragraph, in the fine print of the transfer confirmation email, I decided against the account and cancelled the transfer...the $200 in 6-8 weeks and 1 percent rate are definitely tempting though.

"Securities and services are: Not FDIC insured · Not bank guaranteed · May lose value · Not a deposit · Not Insured by any Federal Government Agency"
Quote from thecompdude
:
Money market or bank account is not the same as a securities account. Securities is basically stocks, bonds, etc. This account is fdic insured.




Free 200 on 10k is like a 2% annualized return on top of the 1% interest rate.
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#11
Quote from weikewl
:
How many SDers have $10k in cash lying around that isn't already in a "high interest" online account? Their regular rate for savings account is 0.75% so the difference is only ~$25 over a year. Not sure that would be worth setting up another account to manage at a new bank.

Edit: Ally bank is 1% all the time, no min balance.
I sometimes have 20k or 30k sitting in my Bank of America no interest checking before i get around to doing something with it. I am more concerned with my trading than1% interest.
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#12
Quote from david_kay
:
"Securities and services are: Not FDIC insured · Not bank guaranteed · May lose value · Not a deposit · Not Insured by any Federal Government Agency"
Well technically money market funds could "break the buck", which happened in 2008, they generally are FDIC insured. The link does say it's "Fee-free and secure. With no fees, your money stays on the rise. Plus, FDIC insurance and fraud coverage will keep your savings secure."
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#13
Quote from david_kay
:
"Securities and services are: Not FDIC insured · Not bank guaranteed · May lose value · Not a deposit · Not Insured by any Federal Government Agency"

nope nope nope
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#14
Quote from hourwork
:
Is this a targeted bonus? confused with the wording of "invitation code"
It doesn't appear to be. Judging from the past deal, if it were targeted, the small print would say something like "if you did not receive an email or mail piece directly from capital one 360 with the above code, you are ineligible for this bonus offer". Here, it doesn't.
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#15
Quote from deelseaker
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\
Must not have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before.
Wonder how long "before" is considered ?

I believe I had an ING Direct account many ages ago but also closed it down many ages ago....so I don't remember if it was even a savings product.
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