Posted by Chuck on May 9, 2019
Bank Account Bonuses

Published on May 9th, 2019 | by Chuck

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[Expired] [Targeted] Capital One 360: $450 Bonus for Existing Customers who Deposit $50,000 (or $150 Bonus for $20,000)

View the best current checking bonuses by clicking here.

The Offer

Direct Link to offer (note: there’s targeted language there)

  • Capital One 360 Money Market customers who deposit $50,000.00 or more from an external bank account into your 360 Money Market account will receive $450 bonus. Must maintain the daily balance of the new amount deposited in the account until 11:59 p.m. ET, August 20, 2019.
  • Capital One 360 Money Market customers who deposit $20,000 – $49,999 from an external bank account into your 360 Money Market account will receive $150 bonus. Must maintain the daily balance of the new amount deposited in the account until 11:59 p.m. ET, August 20, 2019.

The Fine Print

  • This bonus offer is meant only for the original recipient. Please don’t share it.
  • Funds transfer must occur between 12:00 a.m. ET on May 9, 2019, and 11:59 p.m. ET on May 22, 2019.
  • Transfers between Capital One accounts will not qualify.
  • A portion of your balances from your 360 Money Market account that have been withdrawn and redeposited back into that account will also not qualify.
  • If your daily balance drops to the lower tier at any point between 12:00 a.m. ET on May 23, 2019, and 11:59 p.m. on August 20, 2019, you’ll earn the lower tier bonus. If you make additional deposits after May 22, 2019, to reach the higher tier, you’ll only be eligible for the lower tier bonus.
  • This offer cannot be combined with any other Capital One Bank or Capital One 360 offers.
  • The bonus is only valid for one account.
  • Capital One will deposit the bonus into your 360 MMA account within 60 days following August 20, 2019.
  • If your account is in default, closed, suspended, or otherwise not in good standing, you will not receive the bonus.
  • The 2.00% Annual Percentage Yield (APY) applies to the entire account balance for accounts with balances of $10,000 or more; 0.85% APY applies to the entire account balance for accounts with balances less than $10,000. Rates are subject to change at any time after account opening. We use the daily collected balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Our Verdict

The Capital One 360 money market earns a respectable 2% APY interest so long as you have $10,000+ in the account (.85% if balance is lower). You need to leave the $50k in the account for around 3 months to get the bonus. Overall, you may lose a bit by transferring the funds from another account which earns more, but you’ll be getting around 3.5% bonus from the $450 bonus, so overall you’re coming out nicely ahead.

An email blast was just sent out today about this offer; many readers sent it in. The fine print states that the offer is only for the email recipient so it’s apparently targeted; it may have been sent out to all 360 Money Market account holders. Just be aware that if you’re lazy and end up leaving the funds there for a while instead of another bank where you earn, say, 2.50% APY, you can end up eating into the $450 bonus.

If I’d gotten this offer, I’d go for it. There’s a similar bonus of $500 for opening a new Money Market account and funding it with $50,000; many people are not eligible for that offer because we have or had any savings product (savings or money market) from Capital One since 2016.



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Matthew Greer
Matthew Greer

Link directs you to the DoC best savings account page.

rocky_NNC
rocky_NNC

I did that calculation before sending, 450$ excluding your 2% interest. in reality you are getting 3.3%+2%

doc
doc

Perhaps if you put the money in before you have to. But, if you only have 50k in an account for 3 months, and earn $450, that’s 3.6% interest.

Since you could conceivably do it 4 times a year, the math is 1,800/50,000 = .036. Add 2%, and you’re at 5.6%, give or take depending on how it’s paid out.

Alex
Alex

Link to offer is broken.

William Charles

Fixed, thanks

Rocky_nnc
Rocky_nnc

I also checked with customer service, he said it’s not targeted. Although my wife got an email & I did not.

Rene
Rene

just chatted with CS, this offer is for all existing customers, and do not need a bonus code.

TB
TB

Honestly, it doesn’t matter what the CS says. Capital One has a history of altering terms and flat out denying customers a bonus despite being presented with proof via chat transcripts. See an early DOC page and scroll through the comments: https://www.doctorofcredit.com/capital-one-500-money-market-account-bonus/.

Tony Tony Tony
Tony Tony Tony

Link directs you to the DoC best savings account page.

Tony Tony Tony
Tony Tony Tony

I’ll do this if it’s not targeted. I didn’t get the e-mail. I’ve had an ING Direct 360 account though for like 15 years.

P
P

I got this via email. I have $0.60 in my CO account. Unfortunately most of my money is tied up in long term investment. And I only have $10k I cycle for MS. Bad timing.

googlre10
googlre10

i have moved my wife’s cap1 mm360 account money to discover 3 months back. if i try to bring it back to MM account, will i be eligible to get $150 for 20k deposit?

Mr G
Mr G

I would like to know this also. Although in my case I kept the Capital One account that I received the $500 bonus late last year open with $10,000 to get the 2.00% interest rate and moved $40k over to Discover. Guessing I would need to move $50k back into Capital One to get this bonus. Suppose I’ll have to give them a call and ask. $450 is a nice bonus. I’ll give Capital One a call on Friday and confirm.

arizonapv
arizonapv

The terms say: The bonus is only valid for one account. I am wondering since you already got one $500 bonus, would you be eligible? Ann (who posted below) says she is in a similar situation and was told by the cs representative that she is eligible even though she got the $500 bonus last year. Let us know what you find out.

arizonapv
arizonapv

The promo started 5/9. It sounds like you’d be ok and would be eligible as long as this promo is open to everyone.

Alex
Alex

Do you know how we can tell if the offer worked? I click on “lets do it” and it goes to the transfer prompt, how do we check if it worked?
Also, can we pull out the $20k/$50k right after Aug 20, or only after the bonus posts (by Oct 19)?

Peter Lobl
Peter Lobl

after august 20

arizonapv
arizonapv

Says: Keep your deposit amount in your account until August 20, 2019,
So, it looks like you just have to keep the money in your account until 8/20 and then you can pull it out.

Sleepy
Sleepy

I wonder if current 360 MMA holders who applied for the new customer $500 bonus but haven’t completed the 90-day period yet are eligible with additional funding.

Ann
Ann

I just called capital one and they noted that I am eligible for the bonus even though I did not get the email. They added the notes to the account stating that if the bonus does not come in, they will adjust it manually. Six months ago, I got the 500 bonus and withdrew most of the money.

Tony Tony Tony
Tony Tony Tony

I’m just curious when you called them how did you explain that you found the offer? I’m thinking to give it a try calling too. But curious how you explained finding the offer.

Ann
Ann

I told the rep that I heard about it from another family member who got the email. He checked and verified that it was available even if you did not get the email.

Frito Pendejo
Frito Pendejo

I got this email. I’m doing it

Tony Tony Tony
Tony Tony Tony

Bummer just called to ask to see whether the promo is on my account or whether it could be added to my account. I told them that a family member got the offer. The customer service said nope, that only targeted people who received the e-mail would be eligible for the bonus. I asked could he please check with his supervisor to see what if we add a note to the account whether I could get the bonus, he put me on hold for 10 minutes to ask his supervisor and then came back with the bad news that nothing he did from his end or adding a note could make us eligible for the bonus since he said the e-mails were targeted only for a small, specific audience and unfortunately didn’t target me.

Matt
Matt

Same here. Oh well. Gonna ask again when I call in to close the account, and see if they give me a different answer.

Nick
Nick

Anyone can help point out the ‘targeted language’ on that page?

I didn’t find words like ‘eligible’ ‘mail’ or ‘target’ there that says it is targeted.

lei
lei

This bonus offer is meant only for the original recipient. Please don’t share it.

arizonapv
arizonapv

In bold it says: This bonus offer is meant only for the original recipient. Please don’t share it. Also: The bonus is only valid for one account.
The word “targeted” is not specifically mentioned.

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