If you’re looking for a way to grow your savings account, signing up for a bank account bonus is a good route. Basically, banks will pay out a bonus to get you as a new customer. Typically you’ll have to deposit a certain amount of money, and leave it in the account for a certain amount of time, in order to earn the bonus.
Right now, Capital One is offering a cash signup bonus of between $100 and $500, depending on the amount you deposit into their savings account. You can use code SCORE500 to earn a bonus of up to $500!
To earn the bonus, you must follow this link and sign up using code SCORE500. You must then transfer in the funds within the first 10 days of account opening. Lastly, you need to maintain the required balance for 90 days following the initial funding period.
Be sure to sign up before May 31st, 2021. The promotion may be extended, but right now the deal expires at the end of May.
You will be enrolled in the Performance Savings account from Capital One. This is a competitive savings account even without the bonus, as it earns 1.5% APY. The account has no monthly or annual fees, no minimum balance, and is FDIC insured.
If you’re looking for a step-by-step guide, here’s how to go about getting the Capital One $500 savings bonus:
And that’s it! And remember, in addition to the bonus cash, you’ll also earn a very competitive 1.5% APY interest rate on the money you have deposited.
Keep in mind that the bonus amount will be based off of your lowest daily balance during the entire bonus period. This means that you need to deposit the funds, and keep the balance high for the entire 90 day period. If you deposit $50,000 but then withdraw $20,000 before the 90 days are up, you will only receive a $300 bonus, as your bonus will be based off of a $30,000 balance.
Other than that, this bonus is fairly straightforward. The account itself is quite simple as well – there are no fees to be concerned about, and Capital One has a good reputation.
This bonus is for the Capital One 360 Performance Savings account. This account offers the following features:
Overall, this is a great online savings account to park some money in, earn a great interest rate, and score a generous cash bonus. It’s a simple account, with no bells and whistles – but also no fees.
Capital One will deposit the bonus into your account within 60 days after you have completed all the requirements above. If your account is in default, closed or suspended, or otherwise not in good standing, you will not receive the bonus.
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