Cap1 360 Savings or Money Market?

[pinkandgrey]

I'm thinking about opening a Capital One Savings account due to the lack of fees. I currently have no savings account--only checking. I know that the Money Market offers a higher APY on balances over 10,000. I wouldn't have 10k in there for a long time, though LOL. Should I just go with the straightforward 1.00 of the regular 360 Savings? Or think ahead to the glorious days of having 10k in there and getting that 1.85? Any advice or personal experiences are welcomed. 

TIA!!

[dragontears]

If it was me, I would choose the 1% over the 0.85% (MM rate for under $10,000).
When your account get over 10k then open the MM account (unless you find better before then).

[Anonymous]

It’s very easy to open an additional account with capital one. I had the 360 savings account and when it reached 10k I opened a money market and closed my savings.. took like 2 minutes. Just get whatever pays you the most right now and open the other account later
(Or try ally.. no minimum and gets just as good of a rate as the 10k money market)

[601flyguy]

Is there a reason you want savings vs checking? I use high yield checking accounts for savings. I think a Heritage Bank checking would be better. It requires 10 debit card purchases per month to qualify for 3.33% interest. I do 10 amazon GC reloads.

• Interest Rate: 3.33% APY
• Minimum Balance: None ($100 minimum to open)
• Maximum Balance: $25,000
• Availability: Nationwide
• Direct deposit required: Optional
• Hard/soft pull: Soft
• Monthly fees: None 

[Anonymous]

shop around

https://www.depositaccounts.com/savings/

[Anonymous]

Psst... Discover gives 1.80% with no minimum. Other HYSA's out there are slightly higher, but I like Discover because money transfered to checking is available immediately to write a (free) check.

[pinkandgrey]

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@Anonymous wrote:

Psst... Discover gives 1.80% with no minimum. Other HYSA's out there are slightly higher, but I like Discover because money transfered to checking is available immediately to write a (free) check.

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Funny you should say that. I actually had decided already to go with Disco. So thanks for the good suggestion! LOL