Capital One 360 2014 Independence Sale Is Now Live

A few days ago we told you that Capital One 360 would be holding their annual Independence day sale, that promotion has now gone live

The Offers

Direct link to offer

It’s important to remember that all bank account bonuses are treated as interest and as such you’ll receive a 1099 tax form and have to pay taxes on these bonuses. This will obviously reduce how profitably they are for you. All of these bonuses end on July 3rd, 2014.

Recommended:

• Receive a $76 bonus when you open a 360 savings account
  • Open the account with a $500 minimum deposit
  • The bonus starts earning interest on day one, but you can’t take it out for at least 30 days.
  • This has to be your or your joint account holder’s (if you have one) first 360 Savings account (this includes Orange Savings Account, too)
  • 0.75% APR
• Refer a friend and receive $40 if they open their first Capital One 360 account

Not recommended:

• Receive a $100 bonus when you open a 360 checking account
  • Opening this account is considered a hard credit pull, find out how to avoid this hard pull
  • This bonus is usually $125 during their Black Friday sale
  • Use your debit card to make 5 purchases or use CheckMate to make 5 deposits
  • Bonus will be paid out on day 50 if the requirements are met
  • This has to be your or your joint account holder’s (if you have one) first 360 Checking account (this includes Electric Orange, too)
  • APR of 0.2-0.8%
• Earn unlimited 1.5% cash back on all purchases with the Quicksilver rewards card.
  • This is really just an advertisement for this card as it always offers this promotion. You can earn up to 3% cash back on all purchases with other cards.

Possibly recommended:

These promos could be interesting if Capital One 360 gives you a similar or comparable rate to the best on the market. In most situations we don’t think this will be the case but you’ll need to do your own research to ensure that’s the case.

• Receive up to $1,776 on closing costs when you apply and are approved for a mortgage with Capital One 360
  • Bonus is for fixed and adjustable rate mortgages
  • Applications must be submitted and approved between June 30th and July 3rd, 2014
  • Money incentive only applies to closing costs up to a maximum of $1,776
  • Not available on home equity loans or home equity lines of credit
• Share what financial independence means to you for a shot at 10 daily prizes of $1,776
  • There will probably be way to many entrants to have a proper chance of winning one of the prizes, but entry is free so go for it.
• Open Spark Pay and swipe $7,600 or more in the first 76 days and get $176
  • Make sure you use promo code SP76
  • Monthly fee of $9.95
  • Bonus will post 2-4 weeks after the transaction minimum is met
• Share builder bonus:
  • Add $5,000, receive $100
  • Add $25,000 receive $276
  • Add $50,000 receive $376
  • Add $125,000 receive $676
  • Add $250,000 receive $1,076
  • Deposits must be made within 90 days of account opening
  • Must use the promo code FIDS2014*360 for new accounts and 2014FIDS*360 for existing
  • Bonus is not available for withdrawal for 180 days after it is awarded
  • Assets added to this account for the purposes of this bonus (minus any loses due to trading or market volatility) must be keep in there for at least 9 months

Our Verdict

Some of the above deals are worth doing, the savings account is a very easy bonus to receive and Capital One 360 has OK interest rates. You can get a higher rate at other financial institutions (around 1% APR), but at least it’s somewhat competitive. I’d never leave funds their for a long period of time but it’s worth doing for a $76 sign up bonus.

Other deals such as the checking promotion are definitely not worth doing. Instead of wasting a hard credit pull on that, here’s a list of credit cards that have a much higher cash sign up bonus. A lot of the other promotions will really vary, you shouldn’t be choosing who you have your mortgage with based on them waiving the closing costs – you should be choosing based on the interest rate and other services the lender provides.

I always like to give my readers a chance to post their own referral links in the comment section when possible, I shouldn’t be the only one that gets to earn a commission. I don’t like people just spamming their links though, so this time we’re going to make things a bit more interesting.

You can leave your referral link in the comments section, but you have to let us know about a saving or checking account promotion which is not listed in our list of new account sign up promos and has a value of $100+. This gives you a chance to earn a little extra money from referrals whilst helping out not only myself but all readers of this blog. We did something similar with the Chime card and some people that posted their link have received 10+ referrals.

Direct link to offer | Screenshot of offer