[YMMV] Capital One 360 – $200 Money Market Bonus (1% APY & Requires $10,000 Deposited)

Offer at a glance

• Maximum bonus amount: $200
• Availability: Nationwide
• Interest rate: 1% on balances of $10,000 or more, 0.6% on balances of $10,000 or less.
• Deposit requirement: $10,000
• Deposit length: None listed
• Hard/soft pull: Soft
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: None
• Expiration date: Must deposit at least $10,000 no later than 3/31/2017 11:59PM

The Offer

Direct link to offer

• Open a new Capital One 360 Money Market account with the promotional code 200STRONG and receive a bonus of $200 when you complete the following requirements:
  • Deposit at least $10,000 no later than 3/31/2017 11:59PM

The Fine Print

• PLEASE NOTE: You’ll only be eligible for this bonus offer if you received an email or mail invitation directly from Capital One with an invitation code.  [Reader Gadget said they saw this in a sidebar ad on Yahoo, so I suspect it isn’t actually targeted but YMMV].
• To qualify for the $200 bonus, open your very first 360 Money Market account online and deposit at least $10,000 no later than 3/31/2017 11:59 p.m., E.T. (If you currently have or have had a Savings product with Capital One Bank, Capital One 360 or ING DIRECT before or are a Capital One Associate, you won’t be eligible for the bonus.) In order to qualify for the bonus, you must make a deposit from an external account. Transfers between any Capital One accounts will not qualify. This offer cannot be combined with any other Capital One Bank or Capital One 360 new account opening offer, and is strictly non-transferable. Bonus offer is not valid for multiple accounts and is only available one per account.
• If you qualify for a bonus, 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 (not in default, closed, or suspended, or otherwise not in good standing).

Avoiding Fees

This account has no monthly fees or minimums to worry about.

Our Verdict

The fact that this might not be targeted is very interesting, it’s obviously a great deal if that’s the case as there is no deposit length requirement for the $10,000 (although it obviously still requires $10,000 in cash). The 1% APY is OK, but there are much better rates available. I’m not going to add this to our list of the best savings accounts as I think there is too much risk involved in terms of the terms saying the offer is targeted. If you successfully get the bonus without being targeted then please let us know in the comments.

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