Anyone bank with Capital One??

[LS2982]

I just opened an acct with them today, wondering if anyone has a acct. and how good are their rewards on the rewards checking

[Walt_K]

Capital One bought Chevy Chase Bank, so I became an unwilling Capital One banking customer.  I elected not to sign up for their rewards checking account because I had a grandfathered no fee checking account and the rewards checking required a minimum balance to avoid maintenance fees (although they waive it for the first year).  But the way their reward checking account works (at least the one offered in this market, not sure if it is the same everywhere) is that you are awarded a certain number of points per transaction, as opposed to dollar spent.  No idea what the redemption opportunities or redemption rate is like, but something to keep in mind is that its reward structure gives you the best value for your small dollar value transactions. 

[llecs]

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@Walt_K wrote:

Capital One bought Chevy Chase Bank, so I became an unwilling Capital One banking customer. 

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+1 for DW, though when the merger was complete, she closed her checking and savings.

[Anonymous]

CC banking isn't worth it compared to Navy Federal.

If you're in the DC metro area where Chevy was---NFCU has branches everywhere.    Why bank at a bank that you have to PAY them money to keep your account open?   I like credit unions that pay me a dividend for just having my money in an account there.

[chasmith]

I banked with Capital One in Texas, same sort of scenario, they bought a couple of local banks to establish a branch network.  Customer service from the branch was awful, and in particular they would put arbitrary holds on check deposits - the main reason I wanted a local branch.

I agree with others, I can't understand why anyone eligible to Navy Federal and/or USAA would use a traditional bank.  Since I left Texas, USAA has added the ability to scan in check deposits so for me a branch isn't really needed.