Published on June 17th, 2019 | by William Charles76
Capital One Paying Out $500 360 Money Market Bonus + Interest
Last year Capital One was offering a bonus of $500 when you opened a 360 money market account. Today some people have received checks in the mail for the $500 bonus, plus interest. This was sent out to people who didn’t receive the bonus.
Some people didn’t receive the bonus because they use cumulative deposits to reach the $50,000 deposit requirement. At the time Capital One stated that didn’t qualify for the bonus, despite the fact that the fine print didn’t state a balance requirement of $50,000 0r a single deposit of $50,000. It’s unclear if Capital One received enough CFPB complaints/legal pressure that they decided to pay out the bonuses or if there is another reason. It’s also unclear what will happen to people who accepted a lower offer of $200 after filing CFPB complaints.
Update: Seems like people are receiving checks even if no complaint was made. In addition people who made a complaint and received a similar amount (e.g $200) have received the difference (e.g $306)
Hat tip to bplturner