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Going For Capital One 360 Bonuses

July 2nd, 2013 at 08:08 am

If you aren't aware, Capital One 360 is having a three day promotion that ends tomorrow. There are multiple ways to earn bonuses by opening different accounts. And you can even refer friends to earn additional bonuses.

I chose to open a checking and savings account. The checking account bonus is $100 and the savings bonus is $76. There are stipulations for both, of course. But they are easily obtained.

The checking account does not require a minimum balance but simply 5 debit card transaction or 5 mobile deposits or a combination of both. I deposited $100 and will make small purchases that would be part of our normal spending. I have 45 days to complete the transactions. The $100 bonus will be deposited on day 50. This will be taxable, but it's still extra money!!

The savings account requires a $500 deposit to earn the $76. That bonus is already pending in the account and will start earning interest today! The interest rate is 0.75%, which is competitive, but not the highest that I know of. The bonus will be available for redemption after 30 days. The $500 I transferred is some of the Christmas Snowflake money. I'm not shopping yet, so it might as well earn some interest.

There is a Refer a Friend promotion that could generate another $76. You refer two friend for $20. There is another $36 bonus given for the referral on July 31st. Unfortunately, I opened my savings account first and it put a hold on the accounts while the confirmation deposits are made. Thus I'm not eligible to refer at the moment. But once I am, I will post my referral link. If you sign up, try opening the checking account first!

I opened this as a single account and now I'm wondering if I can open another one for my husband. Anyone know the answer to this? Does this sound like an offer you might look into? Or have you done the offer already?

16 Responses to “Going For Capital One 360 Bonuses”

  1. MonkeyMama Says:

    Cool. I will go for the savings account bonus - easy peasy!! Thanks for the heads up.

    If you see anything that says "no minimums," can you share the link? I am just digging through the fine print, and have seen absolutely nothing about minimums on the Capital One website.

    My paycheck won't hit my checking account until noon, so I will check for any referrals before I open the account. (I was going to put a chunk to savings, so can easily divert $500). I doubt I will bother with the checking account. I will ponder that part of it... (Usually these bonuses are not worth the hassle, to me, but this one might be okay).

  2. creditcardfree Says:

    @MM, there is no minimum on the Checking account to get the bonus. I spoke with a cs rep when I was trying to figure the referral problem and double checked that part, since I didn't see anything in writing either. Need some money in there to do the five purchases...I don't get too many checks so I don't expect to do deposits.

    Only need the $500 in the savings account for 30 days to get the bonus. It is a great deal!

    Still deciding whether to try to open one for my husband....thoughts?

  3. MonkeyMama Says:

    I think in general these deals are one per household. That said, if it didn't say that, might as well try for the husband. Their disclosures seem pretty vague to me, but I haven't actually opened the account yet. IF they don't specifically say "one per household," I can't see how they can fault you for opening two accounts.

    I was wondering what their savings account minimum was, but maybe its implied with "no fees" that there is "no minimum." (More thinking long-term, though suppose it doesn't really matter. I will personally close the account after 30 days. I understand I need to keep $500 in there to redeem the bonus).

  4. MonkeyMama Says:

    The Sharebuilder/Capital One site says there bonuses are "one per household." So does this link:

    http://www.maximizingmoney.com/banking-bonus-deals/capital-one-360-new-account-bonuses-with-online-referral-links/

    I suppose I'd just be happy with the one bonus - will change my answer.

    This is why I like credit card rewards so much, I guess. "Per person." Big Grin

  5. creditcardfree Says:

    Yes, I will be happy with one bonus! It's still a decent deal. And I just might use that savings account. Smile

  6. Miz Pat Says:

    Is this account online? I've never done an online account before without having a physical bank to go to for questions.

  7. creditcardfree Says:

    @MizPat, yes the account is online. It was formally known as ING Direct. The accounts requires it to be linked to a checking account.

  8. ceejay74 Says:

    I was dumb and did the savings account, despite what you warned! Do you think we'll get the referral link before the offer expires?

    I might open a checking account under AS's or NT's name and then maybe they can get a referral link right away.

  9. ceejay74 Says:

    Actually, it looks like you CAN get a referral link. Log back in and look for the "Refer a friend" tab...

  10. creditcardfree Says:

    @ceejay, I actually still don't have the referral link...they cs rep indicated it was because I need to verify two deposits in my account and it's because I opened the savings account before the checking account. Maybe you have it because you didn't open the checking at the same time. Who knows!

  11. PatientSaver Says:

    I sort of feel opening and closing a checking/savings account is not quite as easy as cancelling a credit card, but if you're interested in this, why not take advantage of the longstanding Chase offer for $200 if you open a checking acct with them?

  12. creditcardfree Says:

    @PS, from what I can tell I'm not able to open a checking account with Chase. There are no branches in our state for Chase, otherwise I would consider it. I get an error message when I put in my zip code for online banking. There are many bank offers that require direct deposit...those I avoid.

  13. PatientSaver Says:

    That's so strange about Chase. Might be worth a phone call just to satisfy your curiosity. Good point about the direct deposit requirement. That would make it a huge hassle to change accounts if you have direct deposits, or automatic debits linked to your existing account.

  14. Miz Pat Says:

    OK - I applied for the savings account last night and it just may have worked. This is my first time doing online banking and I appreciate the heads up.

    Woohoo

  15. creditcardfree Says:

    Good for you, MizPat!! I hope it works well for you. I've done ALL are banking online for about 7 years.

  16. Miz Pat Says:

    Apparently it is working, but they still havent taken the intial $500 out of my checking.

    I notice it is a member of the FDIC - does that mean its insured?

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