[Expired] [YMMV] Capital One $400 Checking Bonus
Reposting this due to all the successful data points in the comments. Goodluck!
Please note this is a targeted offer with the following language: IF YOU DID NOT RECEIVE AN EMAIL OR MAIL PIECE DIRECTLY FROM CAPITAL ONE 360 WITH THE ABOVE CODE, YOU ARE INELIGIBLE FOR THIS BONUS OFFER.
Offer at a glance
- Maximum bonus amount: $400
- Availability: Nationwide, but targeted
- Direct deposit required: Yes, two direct deposits of $250+ each
- Additional requirements: Use promo code PLUS400
- 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 mentioned
- Expiration date: June 30th, 2017
The Offer
- Open a new Capital One 360 checking account by June 30th, 2017 and receive two direct deposits of $250 or more within 60 days of accepting the terms. You must also use the reference code PLUS400.
- Promo code needs to be added on the funding page
The Fine Print
- IF YOU DID NOT RECEIVE AN EMAIL OR MAIL PIECE DIRECTLY FROM CAPITAL ONE 360 WITH THE ABOVE CODE, YOU ARE INELIGIBLE FOR THIS BONUS OFFER.
- To qualify for the bonus, you must be the primary account holder, and this has to be your first 360 Checking account (this includes former Electric Orange accounts, too).
- Beginning April 3, 2017, to earn the $400 bonus you must accept the terms on a new 360 Checking® Account by June 30, 2017. 11:59 p.m., ET and receive 2 direct deposits of $250 or more within 60 days of accepting terms and conditions for your new account. You will receive the $400 credit to your checking account about 90 days after accepting terms and conditions. This offer cannot be combined with any other Capital One Bank® new account opening offer.
- Direct deposits must be an electronic deposit of one of the following: your paycheck from your employer, Social Security/pension or other government benefits. Direct deposit is subject to employer or other payor options.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
There are no monthly fees on this account and no early account termination fee.
Our Verdict
Ok, so the fine print states that this is a targeted offer but this might not be being enforced (one datapoint here and more via e-mail as well). You can read data points on people getting the bonus when not targeted for a previous $400 offer here as well (and a recent $200 offer). This is really YMMV and remember you won’t be eligible to ever get the bonus again if you sign up for an account. I wish everybody the best if they decide to go for this offer, but I don’t feel comfortable making a recommendation one way or the other. Debate this among yourselves in the comments. As always you can view bonuses we do recommend here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
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I’ve been holding out on this offer and really doubt I’ll ever be targeted for anything by them since I live in the South. I’m debating whether or not to just go for this since I really want the account. Thoughts?
As I said, it’s really up to you. DP look encouraging but as always YMMV.
I just spoke to someone in sales who said it’s only targeted to people in the Boston, MA area.
Why would you call? This is how loopholes are closed.
They could say what they want, but a lot of us including myself got it out of state.
YMMV but it seems like its not enforced
How can I tell if I used to have an ING Electric Orange checking account? I know I had savings accts there, and still do have them with CapOne360, but my memory is fuzzy on the checking.
I’ve always wondered… I did a Capital One 360 about 5+ years ago, just curious if the fact that I got a bonus ever rolls off and I can do it over again….
For Capital One they enforce lifetime rules, and this also includes banks that they have acquired over the years. So if you used to have an old Electric Orange Checking account you cannot get the bonus for this account.
wow even acquired banks? Is this based on your own experience or DP’s?
Lots of DP posted that past ING customers are ineligible for the bonus on the recent 360 MM offer.
Back in 2012 I closed my ING account before the CapOne transition under some pointless self brewed protest. I’ve read the small print as ineligible for any CapOne bonuses even 5 years later.
TARB
If I were to take the plunge and apply even though I wasn’t targeted, would I still be eligible for a bonus in the future if this doesn’t work?
No. Capital One enforces lifetime rules.
+1
Amex has lifetime language but you can redo bonuses in 7-10 years. Is this the same with Cap1? Has anyone tried waiting that long?
Capital One has the longest memory of any bank I have ever seen. They even count banks that were bought out by CapOne. The terms also explain this as well.
No their once per lifetime bonus is enforced
Is Capital One sensitive to high Chex inquiries? No mention on the DoC list.
Don’t think so. At least in my case. I’ve been pretty aggressive in the last 6 months, at least 10 Chef inquiries, no problem signed up for both checking and MM from cap one
Not that I’ve seen
Any idea what it takes to be targeted? I currently have a Capital One Venture CC but no other accounts with them.
I may give this one a try. If it works I’ll leave a DP.
No idea what their targeting criteria are
I was told by one of the representative that probability of getting the bonus is higher if we use the above code(PLUS400) and live in boston area. She told me this code is only targeted for boston customers.
I’m giving it a try, too. Doing the legit payroll DD so I won’t know if it succeeds until the end of May.
How do we get targeted for this? If you are targeted, please leave your DP here whether you have any capital one products.
Did you get the bonus eventually?
FWIW, I signed up for the $200 back in January, which is also targeted, and I don’t believe I was targeted (no mail, no offer when logged in to my account, but I do have a credit card with capital one, though). The requirements were a bit different but the bonus was paid out so fast, in 2-3 days.
So, it’s definitely YMMV
I have a cap 360 money market account. Am i eligible for this checking offer?.
+1
I believe they have separate bonuses for their savings accounts and checking accounts and you qualify for one of each. I believe the money market is in the savings category.
That’s saving, as long as you have never had a checking with cap one, you may go for it. Just remember, it’s said on the fine print, targeted.
Thanks
+1
Another qn: If exisitng money market a/c holder, should is say i am new to 360 or login to existing account and apply?.
Doesn’t matter
makes me wish i would have read that capital one letter I got the other day….
You can call and ask if you are targeted for any offers, I would specifically ask about this one.
Call 1-800-289-1992 and you can ask the CSR to confirm your targeted in their system. I forgot what they ask for exactly but maybe SSN.
I did not get an targeted email or mail for their last $200 promo but called the number and the CSR confirmed I was eligible with the promo code.
Opened the Capital One 360 checking and received the bonus.
Tried calling the number and was instantly told I am not eligible 🙁
I tried this a couple of months ago and the guy clearly could tell I was just fishing, and wouldn’t tell me anything.
I didn’t see anywhere I could enter the promo code and ended up opening the account without it, would that prevent me from getting the bonus?
Ya man. Bummer.
Yes, you need to enter the promo code.
I chatted with a CSR and he told me unfortunately I am not targeted, but he could offer me a $100 with the same requirements instead.
I guess this is useful to those who are going to take the risk to apply and don’t end up getting $400.
Tried for my wife, but after entering in SSN and address it said info didn’t match and stopped. All I entered was SSN and address and I know both are correct.
Also no place to enter the promo code.