$200 or $500 Bonus for New Money Market Account at Capital One

$200 or $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 if you want to earn the bigger $500 bonus.

The Offer

Open a 360 Money Market account between 12:00 a.m. ET on March 11, 2019, and 11:59 p.m. ET on May 19, 2019. When you open your account, enter your promotional code—EARN500. Deposit $10,000 or more of new money from an external bank (transfers between Capital One accounts will not qualify) within the first 10 days of account opening (Initial Funding Period). The amount of your bonus will be determined as follows:

• $200 bonus — you maintained a daily balance of $10,000 – $49,999.99 for the first 90 days following the Initial Funding Period
• $500 bonus — you maintained a daily balance of $50,000 or more for the first 90 days following the Initial Funding Period

If your daily balance drops to a lower tier at any point during the 90-day period, you’ll earn the lower tier bonus. If you make additional deposits during the 90-day period to reach the next tier, you’ll only be eligible for the lower tier bonus.

Promotion Page

Key Terms

• Deposits must be from another bank (transfers between Capital One accounts will not qualify).
• If you have or had an open savings product (excludes CDs) with Capital One after January 1, 2016, you’re ineligible 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 and keep it in the account for 90 days.

Plus, you’ll earn 2.00% Annual Percentage Yield on balances of $10,000 or more, which is a very competitive rate.

HT: Doctor of Credit

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