Capital One Rewards Checking Account sign up bonus: $300?

January 18, 2010 16 Comments »

Update 2013: This deal is no longer available. Get today’s best checking account deals here.

-Offer from Archive-

Over the weekend, two people submitted a substantial checking account deal being offered by Capital One Bank and we would like to quickly highlight this bank deal although we have not yet verified it’s authenticity.

Apparently Capital One branches in Connecticut, Louisiana, New York, New Jersey, and Texas (potentially more as well) are offering new checking account members a whopping $300 bonus upon owning the account for at least 6 weeks and making a few qualifying actions.

Supposedly, to qualify you must make a initial direct deposit of at least $50, hold the account for 6-8 weeks and sign up in a physical branch (not an online offer). When visiting the branch use the promotional code RC3.

This seems like a rather “too-good-to-be-true” offer considering the potential return one could incur upon opening this account ($300 bonus on a $50 deposit) and we don’t usually make note of speculated offers, however since this has been reported twice and seen on other financial blogs, we thought we’d give it mention. We have contacted Capital One and will post full details upon there arrival.

A number of exclusive or “invitation only” checking account promotions have been popping up around the country this year. And we think this may be that type of offer (still waiting to hear back). What big banks do when trying to drum up new business is they first decide what segment of consumer they are after – usually this means breaking down prospective consumers by income. If, let’s say, “Big Bank A” wants to acquire new upper-middle class consumers they may come up with an enticing checking account promotion such as this one and market it through snail mail to addresses fitting upper-middle class neighborhoods. Both Capital One and Chase Bank are notorious for this.

On the other hand, many banks and even credit unions, may decide they are after a broader range of consumer. In this case they can launch an online coupon featuring a cash bonus as well. These sort of offers get loads of media attention from financial and banking blogs such as this one. If they are still looking to acquire a more ‘high value’ client with the online offers, they can simply impose checking account fees for those with balances under a certain monthly limit. Capital One, Chase Bank, and Bank of America all impose these sort of fees with differing penalty amounts and minimum balance requirements. Visit CapitalOne.com to get updated specifics on their potential checking fees.

If you have tried opening this account (with success or failure) please share your experience by leaving a comment!

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  • Anthony

    I just called my local Capital One bank. This appears to be true. However, you must be on some sort of pre-selected list.

  • Anthony

    Additionally, promo code “RC2″ is a $200 alternative. I’m not sure how this one works.

  • Craig

    I live in Texas and got a $100 bonus recently for a new account. Can I take in the RC2 code for additional bonus or is it just in some states?

  • zach

    Yeah, I just moved to NYC and I visited two different Capital One branches on my way to work. Apparently it is a pre-selected list and I need the mailer. They said there is a chance I got one as a CC holder, but alas, no mailer. I will try calling both bank and credit card service to see if I am on a list. I must obtain this promo!! I think there is still a $50 bonus for their smart cents account also…I vaguely recall seeing the advert in my peripheral leaving the branch :)

    I recently found out this bank Banco Popular has a $125 bonus going on. They are in NYC, not sure where else. They are also member FDIC.

  • Ann

    I printed the information and took it to a capital one banker. They entered the RC3 code and I got it. I opened the account on December 3 and the $300 was deposited into my account a couple of days ago. This works!!

  • amy

    i went and they said need to be the one whos got their mail for $300 cash back. otherwise, you can’t get the money

  • Debra bourgeois

    I opening a checking account July 15 2010 and I told them about the promo code RC3 they type it in and until today have not received it who do I have to contact does anyone know

  • khristopher

    I JUST CALLED TODAY 8/23 THE FORDAMH BRANCH IN BRONX NY AND THEY SAID THE FOLLOWING PRINT THE AD WHICH IS THIS ONE, BRING IN A 50 DOLLAR DEPOSIT AND I HAVE TO SET UP A DIRECT DEPOSIT AFTER 6 WEEKS I WILL BE CREDITED 300 DOLLARS TO MY ACCOUNT IT WORKS AND THIS IS AWESOMEEEEEEEEE!!!!!!!! I HAVE BANK OF AMERICA AND WAS ALREADY TRYING TO GET RID OF THEM ITS PROBABLY THE WORST BANK YOU CAN EVER HAVE NO MATTER WHAT PROMOTIONS THEY HAVE AND PLUS I HAVE A CAPITALONE CREDIT CARD WHY NOT HAVE A PERSONAL SAVINGS AND CHECKING WITH THEM AND RECIEVE REWARDS FOR ALMOST EVERYTHING LOL im only 20 yrs old i need something good

  • LaWauna Grimes

    IF I OPEN A NEW CHECKING DO I GET A BONUS

  • Lillianne

    I got the bonus opening the account online.

  • jakeymc

    Lillianne, which code did you use to open the account online and how much did you save? Thanks

  • jazzy

    I opened the account online and it worked!!!

  • help_somalia

    I went to the physical bank and the manager said he cannot do it. He needs some piece of mail from capital one.
    Branch: Journal Square, Jersey City,NJ

  • Rhojo

    I opened my Capital One account online on Sept 19, 2011 and funded it with $50 and set up direct deposit and used the code RC3. To my surprise, on Nov 1, 2011, I got a direct deposit fulfill deposit of $300 in my account. This code still works and you can use it online. Just wanted to share.

  • Kevin

    Does anyone know if the offer is still available? Also, once you enter the code in the online system, where in the process can you see that the offer has been applied to the application? I was thinking of applying for it over the next few days. Let me know if anyone can answer these 2 questions.

  • David

    I’ve been a Capital One checking account holder for years!! They just gave me a refer a friend bonus to give out.

    $50 for Checking

    $25 for Savings

    $25 for Debit Card for teens

    $25 for Kids Savings Account

    https://www.capitalone360.com/referafriend/