Capital One

Rewards Checking Account features: 

  • No monthly service fees
  • No minimum balance
  • No direct deposit required
  • Earn rewards when you swipe your debit card, write a check, or pay bills online
  • Shop and bank as you normally do-your rewards pile up automatically
  • Choose from cash, travel and merchandise
  • Transfer rewards to other Capital One accounts, including business, friends and family.
  • 5,000 bonus miles for opening an account and using direct deposit

Rewards Checking Terms:

$50 minimum opening deposit required, and customers have to purchase their checks. Bank rules and regulations apply. Contact your local branch for details.

Reward Program:

Capital One will offer its customers 10 miles for every debit card purchase, 10 miles for every electronic bill payment via online bill pay and recurring pre-authorized payment (up to 10 transactions per month), and 5 miles for all other customer-initiated withdrawals transactions (up to 10 transactions per month). Rewards do not accumulate for fees of any kind, such as non-sufficient funds (NSF) fees. Miles are applied to the rewards balance on a monthly basis within 60 days after the end of each month. There is a limit of one consumer rewards checking account per customer.

Additional Benefits:

  • Account opening bonus for new accounts in the form of a one-time bonus of 1,000 miles when a new account is opened and the first transaction posts to the checking account.
  • There is a direct deposit bonus for new accounts in the form of a one-time bonus of 4,000 miles when the first direct deposit transaction posts to a new checking account.
  • There is an anniversary bonus in the form of 1,000 bonus miles each the year the checking account is open and has had at least one debit purchase transaction in the previous year.

These bonuses will be applied to the rewards balance within 60 days of the transaction amount posting to the account. With the exception of the anniversary bonus being applied to the rewards balance within 60 days of the anniversary of enrollment of the account in Rewards.

Miles required for travel redemption:

  • 15,000 miles are required for tickets up to $150
  • 35,000 miles are required for tickets from $150.01 to $ 350.00
  • 60,000 miles are required for tickets from $350.01 up to $600.00
  • For tickets over $600.00 the number of miles required is determined by multiplying the cost of the ticket by 100 (for example an $850 ticket requires 85,000 miles)

Non-air travel rewards redemptions will vary by rewards products and further information on this is available at the Capital One website under no hassle rewards.

Business and credit card accounts are eligible for reward miles. You should contact a local branch or visit the terms and conditions for the Capital One Small Business Rewards Checking on their website for limitations and conditions. There are no transfers to cash rewards accounts.

The above information is offered by OpenFreeCheckingAccount.com for informational purposes only. Capital One reserves the right to change any of its benefits at any time. Please contact your local branches for further details. OpenFreeCheckingAccount.com is not responsible for any changes or discrepancies to this or any other banking information listed on this site.

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