$500 Bonus for New Money Market Account at Capital One

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capital one 500 bonus

$500 Bonus for New Money Market Account at Capital One

Capital One has a great bonus for new Money Market accounts that is now available nationwide. You need to deposit a total of $50K, but you can make a $500 bonus.

The Offer

Open your account and deposit at least $50,000 by October 31, 2018, using promo code OFFER500 to earn an exclusive $500 bonus. Plus, you’ll earn 1.85% Annual Percentage Yield (APY) on balances of $10,000 or more.

Capital One will deposit the bonus money into your account in approximately 6-8 weeks after completing the above conditions. Once it’s deposited, the funds will be available immediately. Account must be in good standing.

Promotion Page

Key Terms

  • Deposit at least $50,000 no later than 11:59 p.m. ET on October 31, 2018
  • Deposits must be from another bank (transfers between Capital One accounts will not qualify).
  • If you have or have had a savings product with Capital One after January 1, 2016, you won’t be eligible for the bonus.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Conclusion

This bonus is available only to those who have not had a savings product with Capital One after January 1, 2016. To get the $500 bonus you need to deposit a total of $50,000, but you don’t have to keep the balance there after that.

Plus, you’ll earn 1.85% Annual Percentage Yield on balances of $10,000 or more, which is a very competitive rate.

HT: Doctor of Credit


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3 COMMENTS

  1. current CDs at banks offer 2.5% interest or more. so if you figure what 6 months at 1.65 is plus the 500 it is pretty much a wash.
    If CO offered 2.5% on balance plus the 500, then you have a great deal… otherwise.. eh!

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