Banking » Compare Banks » Capital One 360 Performance Savings vs. American Express High Yield Savings Account
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Capital One 360 Performance Savings vs. American Express High Yield Savings Account

Capital One and Amex savings rates are quite similar. However, each of them has its own benefits, features and tools. Here's our comparison
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: September 20, 2023
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: November 1, 2023

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Are you considering opening a savings account and trying to choose between Capital One and American Express?

With so many options out there, it can be overwhelming to decide which one is right for you. Both Capital One and American Express offer competitive interest rates and a range of account features, but there are some key differences to consider.

In this article, we'll compare Capital One and American Express savings accounts to help you make an informed decision and find the best account for your needs.

Compare Savings Rates

Amex High Yield Savings
Capital One 360 Performance Savings
Savings Rate
4.35%
4.35%
Minimum Deposit
$0
$0
Fees
$0
$0
Promotion
None
None
CD Range
Up to 5.00%
4.10% – 5.25%

The table compares two savings accounts, Amex High Yield Savings and Capital One 360 Performance Savings, based on their savings rate, minimum deposit, fees, promotion, and CD range.

Both accounts have no minimum deposit and no fees, and there are no promotions currently offered for either. The savings rate for Amex High Yield Savings is 4.35%.

However, when it comes to CD ranges, Capital One offers a range of 4.10% – 5.25%, compared to Amex's range of Up to 5.00%.

Compare Savings Account Benefits

Amex High Yield Savings
Capital One 360 Performance Savings
Compounding Daily
No Minimum Balance or Monthly Fees
24/7 Customer Support
Free Credit Monitoring Services
No Fees, Minimum Deposit or Monthly Balance
Multiple Accounts
Digital Monthly statements
Mobile Check Deposit
Easy Account Transfers

American Express High Yield Savings offers several benefits, including daily compounding interest, customizable monthly statements, no fees, minimum deposit or monthly balance requirements, and 24/7 customer support.

The account also comes with free educational tools and resources, such as a free credit score and report for members. This makes it a flexible and user-friendly option for those looking to earn high interest on their savings without having to worry about hidden fees or balance requirements.

The Capital One Performance Savings account offers several benefits, including no minimum balance or monthly fees, free credit monitoring services, multiple accounts for different goals, mobile check deposit, and easy account transfers. The account is highly accessible and convenient, as you can open and maintain it without worrying about specific balance or fee requirements.

The credit monitoring services and multiple account feature help you manage your finances and savings progress more effectively. With mobile check deposit and easy account transfers, you can deposit and move money quickly and securely.

check credit score with Capital One CreditWise
Check credit score with CreditWise (Screenshot from Capital One)

Can You Get Better Rates With Other Savings Account?

If you're looking to compare more options besides Capital One and Amex, it's important to find an account that offers competitive rates. While many people stick with traditional banks for their savings needs, there are a variety of alternative savings account options that may offer better rates.

The following table explores some of the alternative savings account options available, including online banks and credit unions.

Bank/Institution
Savings APY
Min Deposit
Type
5.05%
$100
Online Bank
4.40%
$0
Online Bank
0.03% – 4.45%
$0
Traditional Bank
5.07%
$0
Online Banking
4.50%
$0
Online Banking
4.35%
$0
Online Bank
4.35%
$0
Online Bank
4.65%
$100
Online Banking
4.75%
$0
Online Bank
3.10%
$0
Credit Union
4.35%
$0
Online Bank
up to 4.60%
$1,000 – $5,000
Online Bank
3.00%
$5
Credit Union

Compare Amex Savings Account

Compare CIT Bank Savings Connect and Amex Savings account rates, features, benefits, and limitations to determine which is the best for you.

CIT Bank Platinum Savings vs. American Express HYSA: Which Is Best?

Discover and American Express offer competitive savings rates and no monthly fees. Compare account features, benefits, and drawbacks.

Discover Online Savings Account vs. American Express HYSA

Ally and Amex savings offers lucrative savings rates and many other benefits for savers. Here's our side by side savings account comparison.

Ally Bank Savings Account vs American Express High Yield Savings Account (HYSA)

Compare Capital One Savings

While Citi Accelerate Savings account offers a slightly higher APY than Capital One 360 Performance Savings, it has drawbacks to consider.

Citi Accelerate Savings vs Capital One 360 Performance Savings: Which Is Better

The Discover Online Savings and the Capital One 360 Performance Savings rates are similar. Compare account features, benefits and drawbacks.

Discover Online Savings Account vs Capital One 360 Performance Savings: Compare Side By Side

Compare Ally and Capital One Savings account rates, features, benefits, and limitations to determine which one is the best option for you

Ally Bank Savings Account vs. Capital One 360 Performance Savings: Which Is Best?

Capital One Savings provides a significantly higher savings rate when compared to Chase. Let's explore the features and additional benefits. 

Chase Savings vs Capital One 360 Performance Savings: Compare Side By Side

The Smart Investor Savings Accounts Comparison Methodology

The Smart Investor team has conducted a comprehensive comparison of savings accounts, analyzing each based on these critical categories to help you decide where to entrust your savings.

  • Savings Rates: The savings rates category delves into the interest rates offered by each account, assessing their competitiveness in the market. Higher interest rates mean greater returns on your savings over time, providing a crucial incentive for account holders to choose one account over another. Additionally, we explore any promotional rates or conditions that may affect the account's overall value.
  • Savings Features: We examine the features and benefits accompanying each savings account. From account minimums and fees to accessibility through online and mobile banking platforms, these features can significantly impact the convenience and utility of the account for account holders. We also consider perks like overdraft protection, automatic savings plans, and rewards programs.
  • Customer Experience: A positive customer experience is paramount in banking, and we evaluate each institution's performance in this area. This includes aspects such as the ease of account opening, quality of customer service, availability of support channels, and overall user satisfaction on platforms such as Trust Pilot and JD Power ranking.
  • Bank Reputation: The bank's reputation carries weight in the decision-making process. Factors such as financial stability, regulatory compliance, and public perception contribute to the overall trustworthiness and reliability of the institution.

Savings Accounts Reviews

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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