Posted by William Charles on October 19, 2019
Bank Account Bonuses

Published on October 19th, 2019 | by William Charles

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Capital One Money Market $200-$1,000 Bonus + 1.9% APY (Requires Deposit Of $10,000-$150,000)

Offer at a glance

  • Maximum bonus amount: $1,000
  • Availability: Nationwide
  • Deposit required: $10,000-$150,000+
  • Deposit length: 90 days
  • Interest rate: 1.90% APY
  • Hard/soft pull: Soft, as long as you opt out of overdraft protection
  • ChexSystems: Mixed
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: December 31st, 2019

The Offer

Direct link to offer

  • Capital One is offering a bonus of $1,000. To receive the bonus you must use the promo code SAVE1000. Account must be funded within 10 days and balance must be maintained for 90 days
    • Earn a $200 bonus with a balance of $10,000–$149,999.99
    • Earn a $1,000 bonus with a balance of $150,000 or more.

The Fine Print

  • Open a 360 Performance Savings account between 12:00 a.m. ET on October 15, 2019, and 11:59 p.m. ET on December 31, 2019. When you open your account, enter your promotional code—SAVE1000. If you have or had an open savings and/or money market account as a primary or secondary account holder (excludes CD) with Capital One on or after January 1, 2016, you’re ineligible for the bonus. This account is subject to approval.
  • Deposit a total of $10,000 or more of new money from an external bank (transfers between Capital One accounts will not qualify) within the first 10 days of account opening (Initial Funding Period). You will earn a bonus once you’ve maintained a daily balance of $10,000 or more for 90 days following the Initial Funding Period. Your bonus will be calculated as follows: an account with a daily balance between $10,000–$149,999.99 will earn $200 or an account with a daily balance of $150,000 or more will earn $1,000. If at any time during the 90 days following the Initial Funding Period your daily balance decreases to an amount less than $150,000, you will earn a cash bonus of $200. If your daily balance decreases to an amount less than $10,000, you will not qualify for a cash bonus.
  • This offer cannot be combined with any other Capital One 360 new savings account opening offer, including savings accounts opened through Refer A Friend. Only one promotional code is accepted. Bonus is only valid for one account.
  • Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above. If your account is in default, closed, or suspended, or otherwise not in good standing, you will not receive the bonus.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees and there is also no early account termination fee.

Our Verdict

Previous deals from Capital One have been $200 for $10,000+ & $500 for $50,000+. The $1,000 bonus is the highest we’ve ever seen, but the return isn’t as good as the previous $200/$500 deals. Still if you have $150,000 and put it into this account for 90 days you’ll earn ~$1,700 for an annualized return of ~4.5% APY. I’ll be adding this to our list of the best savings account bonuses.

Hat tip to dKailers

Useful posts regarding bank bonuses:



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CJ
CJ

There seems to be no restrictions on past account ownership.

Devyanks90
Devyanks90

From the first fine print bullet point:
“If you have or had an open savings and/or money market account as a primary or secondary account holder (excludes CD) with Capital One on or after January 1, 2016, you’re ineligible for the bonus. “

IS250
IS250

If you have or had an open savings and/or money market account as a primary or secondary account holder (excludes CD) with Capital One on or after January 1, 2016, you’re ineligible for the bonus.

qmc
qmc

I made sure my old account was closed before a Jan 1… still waiting for them to increment the 2016 part though.

Steve

They’ve said 2016 since over a year ago (August 2018). Maybe they’re never going to increment it.

qmc
qmc

Yep, perhaps I’ll be waiting forever, but we shall see.

CK9
CK9

Then many of us are ineligible!!

CJ
CJ

Thanks I was looking for the terms.

CK9
CK9

Is this a targeted offer? I did not get the $450 bonus last time. I was not targeted though.

Girish Singhania
Girish Singhania

I got 450 bonus without being targeted for that one.

SMan
SMan

The Bonus offer says it will post by Oct 20. So wait for two days and call Capital one. Doesn’t hurt in calling. Hopefully you will get it.

Pierrekid
Pierrekid

Possible to double dip? Wife and myself open two seperate 10k? Not so bad

Eric
Eric

Absolutely!! Both of you can take advantage of this offer assuming you both have not signed up for Cap One 360 money market since Jan 1, 2016

Gly
Gly

Anyone knows how strict they will enforce the past ownership rule?

barrytuneup
barrytuneup

very. Thats why they state any acct after 1/16 for are ineligible. Longest terms I’ve ever seen for making one ineligible. Much better off with other bonuses. Simple bank require 20k for 90 days to be safe. and 500.00 bonus. Open 2 accts for 1K and only tying up 40k for 3 months from 11/15/19.

Eric
Eric

Can you create more than 1 Simple account per SSN to get the $500 bonus on each account? Is there something in the fine print?

I am confused by your statement of “tying up $40K for 3 months from 11/15/19”. I am not sure what you are trying to say?

Ben
Ben

Pretty sure he’s referring to his partner because you can’t get more than one bonus

Apple22
Apple22

My account was opened in July 2015 and got the $500 bonus in November 2015. I should be qualified for the $1000 bonus for new account, correct?

Pierrekid
Pierrekid

Correct

CW
CW

If you closed your account before Jan. 1 2016, then you will be qualified for the bonus when you open the new account.

nick
nick

does anyone know if this applies to existing users or new ones as well? few months back they had a deal for existing users as well. tyvm

Eric C
Eric C

Not sure what the question is. If you already have an existing account you do not qualify for this bonus since you have to type in the SAVE1000 promo code when you sign up for the account. The terms also say that the account needed to be open Oct 15, 2019 or later. This to me makes the account terms pretty clear.

Im sure a few months back they had a different promo code for sign up so you have to had signed up with that promo code.

SMan
SMan

I have other accounts with Capital One, but not the Performance Savings, will I be considered existing customer ?

SMan
SMan

Yes. Any savings account with Capital One from 2016 on wards will be considered as existing customer.

fizzbin
fizzbin

On the thread for the now-expired Capital One MM $500 bonus, one person noted that they temporarily lifted the freeze on their Experian and TransUnion credit reports. Can anyone comment on this? I have freezes on Experian, TransUnion, and Equifax. Do I need to temporarily unfreeze anything to apply for this bonus? It wouldn’t seem like it since DoC says Capital One only does a soft pull, or?

Thanks for any clarification!

Eric C
Eric C

It might be a good idea to call Capital One and ask them about it to clarify. It shouldn’t be anything you need to hide so its like it will put “eyes” on you.

Chris H
Chris H

Curious why they need to have different account types if there is no fees? I have a 360 Money market account from a prior bonus and am only getting 1.22% .

I guess they make new account types to attract customers with competitive rates, but not give those rates to current customers.

Note: I only have $10 in my account currently, but this promo reminded me that I should consider moving extra funds there when they aren’t meeting sign up bonus requirements. Annoying that I would have to change accounts to get the better rate.

Tom
Tom

You need to call them and move your funds to the new 360 Performance Savings account. See here: https://tinyurl.com/y3qws2m4

PCED
PCED

Watch out. Cap One has an unusual holding period required. Instead of normally 90 day, it’s 90 day “AFTER FUNDING PERIOD”, and “funding period” is the first 10 days after account opening. This means funds must be in the account through 100 days after account opening. I got caught up by this unusual requirement and almost didn’t get my bonus from their previous promotion. Hope this is made more clear in the post summary so others don’t get similarly snagged.

Eric
Eric

Even if it means 100 days, I am not sure why people are so anxious to cancel the account at exactly 90 days anyways. Always give yourself some leeway in case of technicalities and the fact that if you close at the 90 day mark most likely there could be some interest that gets accrued for the next month. I always wait until the next statement to cut to collect the interest and then start moving funds to my bank. Best thing to do is to give yourself 120 days before trying to close this account.

Tom
Tom

You should always let it ride until the end of the month to get that months full interest anyways. Don’t leave change on the table by pulling out early.

Bruno
Bruno

What is the difference between 360 Savings and 360 Performance Savings? I have an existing “360 Savings” account (used to be ING Direct).

Tom
Tom

360 Performance Savings pays twice the interest when compared to the 360 savings. Difference is explained here. https://tinyurl.com/y3qws2m4

Hunt
Hunt

Why does Cap1 360 always want you to login from an old account that was closed many years ago, ( 8 years in my case when I was just 16 )?
You call in and they can’t figure it out, after over an hour, and then they want me send them a photo ID. Why I asked, and they said my old e-mail from 8 years ago is not the same as the one on your application. No $hit… really? CS sucks at this bank!

Richard
Richard

I thought banks only kept old accounts for 7 years and then they had no information available on them.

harvon
harvon

what’s the fastest free way to transfer $150k into capital one within 10 days? rush mail them a check? I have a cd that matured in 12/21/2019 and this deals expires 12/31/2019, I literally only have 10 days to move the money. Many thanks!

DC
DC

The $200 at 10K is a better deal. The hold is 3 months (plus 10 days) before you qualify for for the bonus. Then they have 2 months to put it in the account. I assume they will take both months. so its a 5 month holding period for the money.

At 1.9% per month plus the $200 on 10K you would earn $280 in 5 months. Thats an annualized return of 6.7%.

Same analysis for the 150K is not as good a rate.
You earn $2191 in 5 months, That’s an annualized return of ~3.5%

Better than most CDs but not a screamer.

gongaza
gongaza

thought you only need to keep $150K for 3 months and then can take it out (though you cannot close the account)?

jess
jess

rate is down to 1.8%

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