Capital One, $1,500 Bonus for Current Business Checking Customers
Capital One is targeting some current business customers with a big bonus for Business Savings accounts. The offer was sent out by email, so you need to have have received it directly in order to be eligible. Let’s check the details and whether it makes sense.
Earn up to $1,500 when you deposit new money into your Business Savings account by January 31, 2020. The amount you receive depends on how much money you add and maintain from February 1st until April 30th, 2020:
- $1,500 bonus when you add $200,000+
- $800 bonus when you add $100,000-$199,999
- $400 bonus when you add $50,000-$99,999
This Business Savings account at Capital One earns 1.85% APY for the first 12 months and then it looks like 0.40% APY.
For this targeted bonus you need to deposit the required amounts, and keep that balance in the account for about 3 months. The $400 and $800 bonuses work out to an extra an extra 4% APY. The bigger bonus of $1,500 requires a $200K deposit and earns you an extra 3% APY for three months. Worth doing especially if you’re still getting the promotion into rate of 1.85%. Even if you are earning only 0.4% from your account, it still beats any other rate out there for large deposits.
HT: Doctor of Credit