Capital One 360 $200 bonus

[BW1985]

If I want to close my account after I get the bonus, how do I get my 1099 from them next year for taxes?

They'll still send it to you whether the acct is open or not.

I had a question on this as well. Capital One never sends you a 1099-INT, you have to log in to your account and download it. What happens after you close your account?

Then you'd have to remember to go into your account to download it anyways. You know your bonus was $200 so you just include that on your taxes, why would you even need the form? I thought the whole point of the 1099-INT was just to remind you of your taxable income at the end of the year.

[Mrxyz]

Hi all,
FWIW, I was able to get my bonuses today and withdraw the money.

[learning_head]

I almost felt guilty for taking $250 from WFB after having the account open for less than 3 weeks and doing only 10 debits for 10 days by buying my daily $2 coffee. Same goes for CapOne, whose account I only had opened for 8 days!

I thought when taking advantage of credit card bonuses, it's recommended to keep credit cards open for close to 12 months - I had assumed to avoid setting off some red flags / being black listed?

Is something similar applicable to bank offers?

[sunny_socal]

Hi all,
FWIW, I was able to get my bonuses today and withdraw the money.

My bonus appeared as well. Total wait time from initial deposit was about 3 weeks.

[HMPlac]

Hi all,
FWIW, I was able to get my bonuses today and withdraw the money.

My bonus appeared as well. Total wait time from initial deposit was about 3 weeks.

My bonus showed up this morning too. Exactly 21 days after my first deposit.

[rantk81]

Hmmm, I am having problems trying to open an account.

When trying to apply, I get an endless loop between the page where I put in my personal info, and a screen that says they already have my information and prompts for login information. Strange.

[Inverted Pyramid]

I opened the account on April 10th, they held the funds for 5 days, and I got my "Cha-Ching! CashPromotion" on April 18th. I did do a Preauthorized Deposit when opening the account only $20, that might be why it only took 8 days instead of the 21 most are reporting.

[caklim00]

Once the 10K becomes available can you transfer out before receiving $200 bonus?

[giesen5]

Yes, go ahead and pull it back as soon as you can.

[2015]

I almost felt guilty for taking $250 from WFB after having the account open for less than 3 weeks and doing only 10 debits for 10 days by buying my daily $2 coffee. Same goes for CapOne, whose account I only had opened for 8 days!

I thought when taking advantage of credit card bonuses, it's recommended to keep credit cards open for close to 12 months - I had assumed to avoid setting off some red flags / being black listed?

Is something similar applicable to bank offers?

I've not seen any rule and I just received my free credit report from ChexSystems--the reporting that's used for bank accounts--and I saw nothing negative. In fact, there weren't even inquiries for WFB and CapOne. Moreover, I don't intend to churn more bank accounts until next year, so I should be good by then.

[giesen5]

Just got an email telling me that my Cap One account is restricted and I need to call in to talk about the activity. I have moved money in and out, but not really that much. Anyone else have this issue?

Will be calling them later today.

[caklim00]

So I pushed 10K from Ally over and the full amount is available in my 360 account. I'm assuming I can pull it right back out and will still get the $200. I figured there was going to be some sort of hold on the money but it looks like it is available.

[41fan]

I just opened a Capital One 360 account and am sending $10k over from an old Deutsche Bank money market account that had been earning about 0.05% while costing about 0.35% in e/r. Thanks to the OP for bringing this offer to my attention.

So hopefully this is another step, with the 1% interest rate in addition to the $200 bonus, in the right direction as I'm trying to get our financial house better optimized on all fronts.

[guitarguy]

I just opened a Capital One 360 account and am sending $10k over from an old Deutsche Bank money market account that had been earning about 0.05% while costing about 0.35% in e/r. Thanks to the OP for bringing this offer to my attention.

So hopefully this is another step, with the 1% interest rate in addition to the $200 bonus, in the right direction as I'm trying to get our financial house better optimized on all fronts.

Definitely sounds like a good move.

We opened 2 accounts, bonus transferred in quickly, funds were available within a few days.

Closed both accounts and transferred the full balances back to Ally all in one motion. Easy-peasy $400.

[41fan]

Definitely sounds like a good move.

We opened 2 accounts, bonus transferred in quickly, funds were available within a few days.

Closed both accounts and transferred the full balances back to Ally all in one motion. Easy-peasy $400.

Good to hear that these bonuses come easily and transferring out is no problem.

I might be the only guy here without an Ally savings account. So I might stay with this account until another bonus offer entices me away. No fees, high yield interest account, any reason I should create an Ally savings account and move my money after I get this bonus?

[guitarguy]

Definitely sounds like a good move.

We opened 2 accounts, bonus transferred in quickly, funds were available within a few days.

Closed both accounts and transferred the full balances back to Ally all in one motion. Easy-peasy $400.

Good to hear that these bonuses come easily and transferring out is no problem.

I might be the only guy here without an Ally savings account. So I might stay with this account until another bonus offer entices me away. No fees, high yield interest account, any reason I should create an Ally savings account and move my money after I get this bonus?

Not particularly.

I think Ally rates just went up to 1.05% as opposed to CapOne 1%. However much that might tempt you.

I haven't been with CapOne for any length of time, but Ally also has great customer service.

All else equal...they're basically the same.

[ND Fan 1]

Both the Money Market and Checking accounts are free-fee and Capital One only allows 1 bonus per lifetime, so these are not churnable, so you don't have to be in a rush to cancel to avoid fees or reset your clock for the next bonus. Another advantage is that an ACH push from Cap One usually triggers a Direct Deposit at other banks, which can help you get bank bonuses that require a Direct Deposit without messing with your actual payroll. Doctor of Credit has a page listing what banks trigger a direct deposit and Cap One is all the list a lot. With that in mind, I may keep my account open for a bit.

[BW1985]

Both the Money Market and Checking accounts are free-fee and Capital One only allows 1 bonus per lifetime, so these are not churnable, so you don't have to be in a rush to cancel to avoid fees or reset your clock for the next bonus. Another advantage is that an ACH push from Cap One usually triggers a Direct Deposit at other banks, which can help you get bank bonuses that require a Direct Deposit without messing with your actual payroll. Doctor of Credit has a page listing what banks trigger a direct deposit and Cap One is all the list a lot. With that in mind, I may keep my account open for a bit.

Shoot, didn't know that. I can't remember if I got an opening bonus from Capital One before or not. I guess I'll see if I get the bonus or not.

[OffTheGrid]

Am I wrong in assuming this is a slightly different, but better promo? Looks like you can now get $400 ($200 per account for $1000 deposited) by opening both a checking and MM until the end of June:

https://www.capitalone.com/together360/

[slbnoob]

Am I wrong in assuming this is a slightly different, but better promo? Looks like you can now get $400 ($200 per account for $1000 deposited) by opening both a checking and MM until the end of June:

https://www.capitalone.com/together360/

It does look better, but unfortunately, is targeted.

[jane_]

Yeah, I explored the $400 New signup Bonus offer at Capital One 360 Checking:
http://www.hustlermoneyblog.com/capital ... promotion/
It only requires 2, not 3, months of direct deposits. Targeted?! How do they choose who to email/mail this offer to?

The fine print indicates it's targeted. Even though I have the coupon code PLUS400, I called and was told I am only eligible for the $100 offer. So it sounds like they are willing to extend 2 bonuses to me in my lifetime.

[41fan]

I just opened a Capital One 360 account and am sending $10k over from an old Deutsche Bank money market account that had been earning about 0.05% while costing about 0.35% in e/r. Thanks to the OP for bringing this offer to my attention.

So hopefully this is another step, with the 1% interest rate in addition to the $200 bonus, in the right direction as I'm trying to get our financial house better optimized on all fronts.

So I checked my Capital One 360 Money Market account today, and the $200 bonus is in the account, even before the $10,000 deposit completely transferred over! The balance shows my deposit amount, + the $200 bonus, but only the $200 is available currently. (My deposit should be available by tomorrow.)

Happy happy! Free money!

[soulreapersteve]

I just opened a Capital One 360 account and am sending $10k over from an old Deutsche Bank money market account that had been earning about 0.05% while costing about 0.35% in e/r. Thanks to the OP for bringing this offer to my attention.

So hopefully this is another step, with the 1% interest rate in addition to the $200 bonus, in the right direction as I'm trying to get our financial house better optimized on all fronts.

So I checked my Capital One 360 Money Market account today, and the $200 bonus is in the account, even before the $10,000 deposit completely transferred over! The balance shows my deposit amount, + the $200 bonus, but only the $200 is available currently. (My deposit should be available by tomorrow.)

Happy happy! Free money!

Thanks for the reminder, just checked my account.

Opened it up on 4/25, $10k was transferred over on Monday and the $200 bonus was deposited on Tuesday! This has got to be the easiest $200 dollars (before tax) I've ever made in my life so far [25 years]

Now to transfer all the money back into my Ally account!!

[caklim00]

How long are people waiting for their bonus? Chase seems to be much faster.

April 21: Funded account with $20
April 25: P2P Deposit of $10K
April 27: Withdrawal of $10K

Still waiting on the $200 bonus as of 5/4

Edit I see someone else already got their bonus and had opened it after me. Called capital one and they said I need to wait until June 21, yikes. oh well its never easy.

[41fan]

How long are people waiting for their bonus? Chase seems to be much faster.

April 21: Funded account with $20
April 25: P2P Deposit of $10K
April 27: Withdrawal of $10K

Still waiting on the $200 bonus as of 5/4

Edit I see someone else already got their bonus and had opened it after me. Called capital one and they said I need to wait until June 21, yikes. oh well its never easy.

I opened mine on 4/26. Stupid me, I opened a joint account with my wife (I'm still new at this rewards bonus game ) and there was a slight delay in getting both owners to verify our checking account linkage. Still, even with that added complexity, I got my bonus yesterday and my original 10k deposit was made available today.

[caklim00]

Did everyone that got the bonus pull their money over to Capital One 360? I pushed my 10K over from Ally. I'm wondering if the automated systems looks at it differently?

[nakedbird226]

Easiest 200 bucks I have ever made. 10k finally went into my account this Monday 5/15 and the $200 bonus was there on Tuesday 5/16. Wahooo, now to decide whether or not to leave it there...

[giesen5]

This $400 Capital One checking offer is targeted, but many are getting the bonus while not being targeted, all least not to their knowledge. I decided to apply without every receiving an email or snail mail. After payroll direct deposit went through, I received the $400 in 6 days. Cha Ching!

http://www.doctorofcredit.com/targeted- ... ing-bonus/

[djpeteski]

I am currently using AMEX (.9%) for my EF and thought about capturing this bonus and then move to Ally.

Capital One said I did not qualify for the bonus and was unable to give a reason why.

Ally needed to do a soft pull, and my wife's credit is frozen. Unless we unfreeze it, they cannot help us.

Oh well, I guess we will just stick with Amex for now.

[sunny_socal]

This $400 Capital One checking offer is targeted, but many are getting the bonus while not being targeted, all least not to their knowledge. I decided to apply without every receiving an email or snail mail. After payroll direct deposit went through, I received the $400 in 6 days. Cha Ching!

http://www.doctorofcredit.com/targeted- ... ing-bonus/

Is it possible to have the 360 Checking while keeping the 360 Money Market? (I think I already have the latter)

And for a 'soft pull' I need not unfreeze my credit, correct?

Thinking of pulling the trigger on this one, the $200 360 was pretty easy.

[giesen5]

I did that exactly. I had the MM account, opened the checking account, transferred money from MM into checking and immediately closed MM. I don't think keeping both impacts it in any way.

I don't know about the soft pull.

[slbnoob]

I would go for this but not sure how to meet the DD requirements without shooting emails to HR. Ally has been my go-to for doing 'DD' but the DoC site has 1 data point on Ally not counting as DD for Cap One 360.

[pablolo]

I had an account 15 years or so ago with orange something savings or checking so I did not qualify.

[sunny_socal]

Is it possible to have the 360 Checking while keeping the 360 Money Market? (I think I already have the latter)

And for a 'soft pull' I need not unfreeze my credit, correct?

Thinking of pulling the trigger on this one, the $200 360 was pretty easy.

I'll quote myself here!
- I opened the 360 checking account despite already having a 360 MM account. They recognized me, I logged in with my credentials.
- They ask to perform an initial deposit from an external checking account, I put in $10
- I entered the promo code, it's the same page as the checking transfer. No problems that I could see...
- Immediately got a routing number and account number.
- I don't know if there was a soft/hard pull behind the scenes, but my credit is frozen across all agencies. No problems!

Will set up my DD from work for $250/paycheck tomorrow, expecting to get my free $400 before too long!

[nobodyukno]

Excuse my ignorance on the subject since I've been at the same bank my entire life.

But, if I wanted to transfer $20k from my TD bank account to Capital one for this bonus, wouldn't that require wiring fees?

[whodidntante]

Excuse my ignorance on the subject since I've been at the same bank my entire life.

But, if I wanted to transfer $20k from my TD bank account to Capital one for this bonus, wouldn't that require wiring fees?

There would not be wire transfer fees unless you chose to wire the money for some reason. You can setup an ACH link from Capital one's site. To do this, you will need the account number and the routing number of the account you are pulling the money from. The main disadvantage is that a transfer done with ACH can take 3 days to link the first time, and 3 days per transfer each time, whereas a wire transfer will be completed the same day you request it if you ask early enough during a banking day.

[Gamma Ray]

Hi everyone,
Can I open an account for myself, and another for my wife, and fund both accounts from same HSBC Checking account and get 2 x $200?

Thanks.

[gvsucavie03]

I am currently using AMEX (.9%) for my EF and thought about capturing this bonus and then move to Ally.

Capital One said I did not qualify for the bonus and was unable to give a reason why.

Ally needed to do a soft pull, and my wife's credit is frozen. Unless we unfreeze it, they cannot help us.

Oh well, I guess we will just stick with Amex for now.

Have you gotten it before at any point in your life?

[gvsucavie03]

Hi everyone,
Can I open an account for myself, and another for my wife, and fund both accounts from same HSBC Checking account and get 2 x $200?

Thanks.

Haven't tried it, but you just rang my bell - I got my bonus last month and I haven't done one for my wife yet.

[annielouise]

If I want to close my account after I get the bonus, how do I get my 1099 from them next year for taxes?

They'll still send it to you whether the acct is open or not.

I had a question on this as well. Capital One never sends you a 1099-INT, you have to log in to your account and download it. What happens after you close your account?

I don't know specifically for CapOne 360, but we closed a Discover account (had been using it to pay MIL bills), and we can still login and see statements, tax forms, etc. It just says "closed acct" at the top.

[VictoriaF]

Is the $200 bonus a taxable income?

Victoria

[Earl Lemongrab]

Is the $200 bonus a taxable income?

I think those are always counted as extra interest.

[Kenster1]

Yes generally those are taxable income.

With some of these bonuses you have to read the fine print - some of them are only available 1 per household.

[BogleMelon]

So, If I open the account, deposit $10K, after 1 day withdraw the 10K leaving the account balance at zero, will I still get my bonus after couple of weeks? or the $10K has to be there till I get the bonus?

[Gamma Ray]

So, If I open the account, deposit $10K, after 1 day withdraw the 10K leaving the account balance at zero, will I still get my bonus after couple of weeks? or the $10K has to be there till I get the bonus?

Hey, let them use the money a little bit, you owe them that much. Things like this spoil the fun and eventually they stop offering this kind of deals.

[Gamma Ray]

Yes generally those are taxable income.

With some of these bonuses you have to read the fine print - some of them are only available 1 per household.

Thanks for the reminder, will go through the fine print, although I will wait to see if the bonus shows up soon. It's tricky, I almost forgot to apply the code because even if you go through the link on the specific page, the code is not applied until you manually paste it in there.

[sunny_socal]

So, If I open the account, deposit $10K, after 1 day withdraw the 10K leaving the account balance at zero, will I still get my bonus after couple of weeks? or the $10K has to be there till I get the bonus?

Yes, I pulled my $10 'early' and still got the bonus.

While you're at it, also make sure to apply for the checking account mentioned earlier in this thread. The conditions are even more lenient IMO and you get a $400 bonus

[pasadena]

I just opened an account and used the code. While the code box turned green, and I got no error, I also didn't see any confirmation (I may have missed it). So I contacted them by chat and was told this was a targeted offer. I'm not even sure she actually checked my account.

I will let the transfer go through and will leave it there for a few weeks, on the off chance that it did work (it's 1% APY so I won't lose anything worth mentioning compared to the 1.05% of Ally). But CapitalOne did lose me as a prospective long-term customer.

[BogleMelon]

I just opened an account and used the code. While the code box turned green, and I got no error, I also didn't see any confirmation (I may have missed it). So I contacted them by chat and was told this was a targeted offer. I'm not even sure she actually checked my account.

I will let the transfer go through and will leave it there for a few weeks, on the off chance that it did work (it's 1% APY so I won't lose anything worth mentioning compared to the 1.05% of Ally). But CapitalOne did lose me as a prospective long-term customer.

What code did you use? I just did everything you did this morning, I used "200GROW" and the customer service said it went through and I should be good!

[sunny_socal]

I just opened an account and used the code. While the code box turned green, and I got no error, I also didn't see any confirmation (I may have missed it). So I contacted them by chat and was told this was a targeted offer. I'm not even sure she actually checked my account.

I will let the transfer go through and will leave it there for a few weeks, on the off chance that it did work (it's 1% APY so I won't lose anything worth mentioning compared to the 1.05% of Ally). But CapitalOne did lose me as a prospective long-term customer.

I called them (the old fashioned way) and double checked that my discount code took. The customer service reps are efficient and friendly, I'll be keeping my MM and my checking accounts at CapOne