Capital One 360

[Anonymous]

Hey Folks,

I am already a member at my local CU but I am moving away from the area soon and looking for an online banking option. 

I know there are a couple BK friendly CU's out there(can't qualify for NFCU sadly). But I also plan on applying for Capital One credit cards and possibly auto-loans on my road to rebuiling post chap. 7 discharge. 

Has anyone had any experience with Capital One 360 after buring Capital One credit cards in BK? 

As a bank in general, what is your rating? 

If you have some other online option that you think is superior what is it and why?

Thanks in advance!

[barbaralee]

Capital One 360 is known for being one of the best banks all around. I think part of their success is they use to be ING, and when Cap1 took over they made absolutely no changes. If you do any search online for best banks you will see that Cap1 is usually in the top 5. I don't have a 360 account, but if I was needing a new bank it would be a hard toss up between USAA and Cap1.

[Taoron]

I can definitely say it's a good account to have.  I've had them since they were ING Direct.   I also participate in their online focus group where we decide on new features and services.  The one thing though is that it works in conjunction with an external account.  Let's say you have cash and you want to deposit it, you'd have to go to your brick and mortar bank to do it.   Also, checks cost $5 for a book of 50.  (And you have to use *THEIR* checks as they have a different authorization code on each check at the bottom.)  It's not really that bad.   Of course, I don't really write a lot of checks.. about 1 per month for rent.

Also, they don't have fees there when it comes to overdraft. You start with a $25 line of credit, so to speak, and if you go below $0, all they charge you is interest on that.

One of my favorite features is that you can still deposit checks with the mobile app.  I've used that several times.

[Insoc]

I have a Capital One 360 account, but I no longer use it and have not closed it because I cannot be bothered to withdraw the $1.00 or less I have in my account.  I came from ING Direct which was in my opinion a great online bank service.  After Capital One, it wasn't too bad but they dropped my line of overdraft protection, even before I filed bankruptcy.  I had $500 of OD with ING, terms and rates were nothing.  

I did have one Cap One Card that was included in my BK, but I opened another checking account before I field, and Capital One has not closed my account at all, they told me I need to close it by removing all funds.  So obviously, they do not seem to care?

[Taoron]

I had 3 capital one credit cards that were closed due to bankruptcy.  However, they left my checking account open.  Still have the $25 overdraft credit line too. 

I opened an account at 5/3 bank but it was a really grotesque account.. charged $10 a month at least for an account.  I closed that pretty much right away after I found my 360 account was still open.

[mrsjr]

I burned Capital One in my bk but they let me have a checking, savings, and three of their best credit cards. There's not a better bank out there.

[Anonymous]

Will Capital One 360 open an account if you're in BK? I tried opening an Ally Bank account pre-BK and they rejected me.

[Anonymous]

Same thing happened to me with Ally. Which left me really skiddish about trying to open the 360 account before my discharge.

I plan on applying for the 360 account as soon as I get my discharge and I will report back.

[Anonymous]

To answer my own question:

I filed for Bankruptcy on October 16. I know that it's well publicized because I'm gettng a ton of offers from local used car dealers. About a month ago, I had applied for an Ally account on-line. I was eventually rejected because of bad credit. 

Today, I opened my mail and saw a mailing for a $50 signing bonus for opening a 360 savings account. I figure I have nothing to lose, so I filled out the on-line forms.

Accepted immediately. All I have to do now is confirm my bank account and I'll be able to fully use the 360 account.

I guess I'm a little surprised. Not shocked. It's not like they're loaning me money or anything. All they are doing is holding my money. But still surprised considering I have an active bankruptcy case. 

[ordnance1987]

Did everyone that got rejected from Ally apply before their BK was discharged? I was able to open an Ally account a month after my BK was discharged, I think a few weeks after my discharge.