Published on January 20th, 2019 | by Chuck14
Capital One Money Market $200-$600 Bonus + 2% APY for Quicken Users (Requires Deposit Of $10,000-$100,000)
Offer at a glance
- Maximum bonus amount: $600
- Availability: Nationwide
- Deposit Required: $10,000-$100,000
- Deposit Length: Until 100 days after account is opened (10 funding day, then 90 days to maintain deposit)
- Hard/soft pull: Soft, as long as you opt out of overdraft protection
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: March 31st, 2019
Quicken partnered with Capital One to offer the following signup offer on the Capital One Money Market account:
- Get a bonus of up to $600. To receive the bonus you must have gotten this email offer, signup through your Quicken account, and deposit a set amount of funds within the first 10 days of account opening and then maintain that balance during the following 90 days. The bonus tiers are as follows:
- Earn a $600 bonus for deposits of $100,000 or more
- Earn a $400 bonus for deposits of $50,000 to $99,999
- Earn a $200 bonus for deposits of $10,000 to $49,999
The Fine Print
- If you ever had or currenlty (sic) have a Capital One 360 Money Market account, you are not eligible for the exclusive bonus. However, if you are an existing Capital One customer and never openeded (sic) a 360 Money Market account, you are entitled to receive the cash bonus, as long as you fund it from a non-Capital One account.
- You won’t be eligible for the bonus if you currently have, or have had, a 360 Money Market account with Capital One. This bonus offer cannot be combined with any other Capital One Bank or Capital One 360 new account opening offer and is strictly non-transferable. The offer is not valid for multiple accounts.
- The amount of your bonus will be determined as follows:
$200 Bonus – You maintained a balance of $10,000-$49,999 for the first 90 days following the Initial Funding Period.
$400 Bonus – You maintained a balance of $50,000-$99,999 for the first 90 days following the Initial Funding Period.
$600 Bonus – You maintained a balance of $100,000 or more for the first 90 days following the Initial Funding Period.
- To qualify for the bonus, you must have received an email directly from Quicken. You must open your very first 360 Money Market account online between December 12, 2018, and 11:59 p.m. ET on March 31, 2019. To earn a bonus your account must be funded with at least $10,000 in the first 10 days of account opening (Initial Funding Period) from a non-Capital One account.
- Your bonus will be based on the lowest amount maintained for 90 days. If your balance drops to a lower tier at any point during the 90-day period, you will earn the lower tier bonus. If you make additional deposits during the 90-day period to reach the next level tier, you will still only be eligible for the lower tiered balance.
- If you qualify for a bonus, Capital One will deposit the bonus money into your account in approximately 60 days following the 90-day balance maintenance period. Once it’s deposited, the funds will be available immediately. Account must be in good standing (not in default, closed, or suspended, or otherwise not in good standing)
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees and there is also no early account termination fee.
In the email it states that you must have received an email from Quicken to be eligible, though my guess is, in practice, anyone could create a free Quicken account, use the link in this post, and get the bonus. I wouldn’t recommend it since it’s not guaranteed to work.
There’s a different, public Capital One Money Market deal for $200 or $500 with $20k/$50k deposit. That offer is better, in my view, since you get just $100 less and you only have to transfer $50k instead of $100k with this Quicken deal.
There is a major advantage to this Quicken deal versus the others: the typical offer clearly disallows anyone who has or had a Capital One savings product since 2016 from taking part in the deal. Even if you never had a Money Market account with the bank, you are disqualified due to the savings account. However, this Quicken deal is clear that so long as you never opened a money market 360 account, you are eligible.
Personally, I’m in this market as someone who has a 360 Savings, but never had a 360 Money Market. The offer is a bit weak due to the large $100k requirement for the bonus. The 2.00% interest rate helps a lot, but I still feel like I’m losing at least .30% from what I’m getting in an Ally no-penalty CD, so that does knock down the value somewhat, so I’m on the fence here.
Cumulative deposits no longer work for these Capital One bonuses, so you’ll have to get the full amount (e.g. $100k) into the Capital One money market account and park it there for 90-100 days.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times