Table Of Content
When Capital One Bank Wins?
Capital One established its reputation as a credit card company, but in recent years, it has established a decent banking product line that rivals a traditional bank. While there are checking and savings accounts, Capital One also offers loan refinancing, kids’ accounts, and auto finance.
Capital One can be a better choice than Credit One if:
- You want savings, checking and loan products
- You want a CD with no minimum deposit
- You want a massive choice of credit card options
When Credit One Bank Wins?
Credit One is still primarily a credit card company, but it does offer limited banking products including CDs.
Credit One can be a better choice than Capital one if:
- You don’t need a checking account
- You have $100k to invest in a CD
- You are looking for credit rebuilding cards with rewards and incentives.
Capital One | Credit One | |
|---|---|---|
Savings Accounts | ||
Checking Accounts | ||
CDs | ||
Money Market Account | ||
Debit Card | ||
Credit Cards | ||
Personal Loans | ||
Mortgage | ||
Government Mortgage | ||
Business Loans | ||
Investing Capabilities |
Savings Account
There is no comparison here, as Credit One does not have any conventional savings accounts. This is in contrast to the fee free high yield savings offered by Capital One. This account offers up to 0.40%.
However, you are limited to only six or fewer withdrawals in any month. You may incur a fee if you exceed this withdrawal restriction.
Capital one | |
|---|---|
APY | 4.25% |
Fees | $0 |
Minimum Deposit | $0 |
Checking Needed? | No |
Main Benefits |
|
Checking Account
Again, there is no comparison here. Capital One has an interest bearing checking account offering 0.1%, while Credit One does not offer a checking account.
Capital one | |
|---|---|
APY | 0.10% |
Fees | $0 |
Minimum Deposit | $50 |
Main Benefits |
|
Top Offers From Our Partners
CDs
This is an area where a comparison is possible and it doesn’t necessarily favor Credit One. Although Capital One only offers 0.20% on a one year CD, there is the potential to earn up to 0.80% with no minimum deposit.
On the other hand, Credit One does offer the potential to earn up to 0.90%, but you need to have a minimum of $100k to invest.
Capital one | American Express | |
|---|---|---|
Minimum Deposit | $0 | $100,000 |
APY Range | 3.90% – 4.50% | 4.00% – 5.40% |
Credit Cards
Capital One offers a wide range of credit cards. On its website, you can sort the cards by category, rate, and credit rating. If you have excellent credit, the Venture Rewards program offers an unlimited 2x miles per dollar spent on any purchase, with no annual fee. If you prefer cash back, the Quicksilver Rewards program provides an unlimited 1.5 percent cash back on all purchases.
If you have fair credit, you can earn 1.5% cash back unlimited with the QuicksilverOne Rewards. There are also student card options, such as the SavorOne Rewards that has a tiered reward structure offering up to 3%. The Capital One Savor card, offers an increased 4% rate on dining and entertainment, 2% at grocery stores and 1% on all other purchases.
Credit One has 13 credit card options. While many of the cards are for those with average to excellent credit, the bank does have four rebuilding cards that allow you to earn rewards as you improve your credit. This includes Vegas Born that offers 1% cash back and exclusive deals, experiences, and discounts for Vegas Golden Knights fans. There is also a Nascar card and WWE card, so you can enjoy rewards, participation, and merch. Credit One also partners with Best Friends, Six Flags, and National Parks to earn greater rewards with your favorite activities.
If you want to maximize your rewards, the Platinum Rewards Visa offers 5% cash back for your first $5,000 of eligible purchases and unlimited 1% thereafter. You’ll also get up to 10% more cash back automatically with participating merchants.
Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 4.85% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners
Top Offers From Our Partners
Customer Service
Capital One's customer service is a little complicated. The bank has dedicated phone lines for your specific problem. You can also go to the Capital One website's support page and click on the appropriate link to get the phone number and information about when the service team is available. There is also a mailing address available, as well as @AskCapitalOne on Twitter.
Credit One has an automated phone service that is available 24/7, but if you want to speak to an agent, the lines are available from 5 am to 9 pm on weekdays and 6.30 pm to 5 pm on the weekend.
Unfortunately, when we look at the consumer review ratings, it is hard to see that the banks offer good service. Capital One has a paltry 1.3 out of 5 rating on Trustpilot, while Credit One is only marginally better at 1.4 out of 5.
Online/Digital Experience
Both Capital One and Credit One have apps to enhance the customer’s digital experience. The Capital One mobile app is rated 4.8/5 and 4.9/5 on Apple and Google respectively, while Credit One’s app is rated 4.7/5 on the Apple Store and 4.5/5 on Google Play.
Both apps allow you more control over your account, with 24/7 access to manage your transactions, make transfers, lock your card and receive notifications.
As we touched on above, Capital One has a great website that allows you to not only compare cards and account options but also access resources to help you improve your finances and discover the best products for your specific needs and circumstances.
Which Bank is The Winner?
With both banks having a similar core, we need to look a little more closely at which bank is better.
It is hard to find the areas where Credit One has the edge. While it has better CD rates, you do need a minimum deposit of $100k. Additionally, Credit One does not have a conventional savings or checking account, loans or mortgages.
However, both banks have a decent selection of credit card options to find one that perfectly suits your needs.
FAQs
Does Capital One offer a bonus for new customers?
As of October 2024, Capital One doesn't offer a checking or savings account bonus for new customers. If you're looking for a Capital One promotion, check out its credit cards.
Does Credit One offer a bank promotion?
As of October 2024, Credit One bank doesn't offer a promotion for new accounts. If you're looking for a promotion, check out our top checking account promotions of October 2024
Is Capital One Allow Joint Account?
You can add another account holder to almost any Capital One account, making it into a joint product. This process can be done online if you have a mobile phone number that can receive a one time security code. If not, you’ll need to complete this request in your local branch.
What are the best Capital one credit cards for bad credit?
There are also four credit card options for those with fair credit. The Platinum card has no annual fee, while the QuickSilver One Rewards card offers Unlimited 1.5% cash back on all purchases and unlimited 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply) on your purchases. However, there are also two secured card options.
The QuickSilver Secured Rewards card requires a $200 security deposit, but allows you to earn 1.5% cash back on your purchases, while the Platinum Secured allows you to choose a deposit from $49- $200 to secure your credit limit, which will be reviewed after six months.
How do I apply for a Credit One Bank credit card?
You can accept a pre-approved credit card offer you received in the mail by going to our Accept Mail Offer page, or you can find out if you are pre-qualified by going to our See If You Pre-Qualify page. These links are also available on our CreditOneBank.com homepage.
What Digital options Are Available on Credit One?
Online Account Access is a service that allows Credit One Bank credit card holders to manage their accounts online 24 hours a day, seven days a week.
Posted Activity; Pending Activity; Pay Bill; Offers; Credit Score; Documents & Statements; Customer Service; and Settings are some of the key features.
Capital One vs Credit One: Comparison Methodology
In our detailed comparison, The Smart Investor team thoroughly looked at Credit One and Capital One in five main areas:
Checking Accounts (30%): We checked things like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers for customers.
Savings Accounts including CDs (20%): We focused on important stuff like how much interest you can earn (APY), the smallest amount you need to open an account, how flexible the accounts are, and if they're insured by FDIC. We also looked at special savings offers, different types of CDs, and any fees for taking money out early.
Credit Cards (15%): We looked at what rewards you get, how much the card costs each year, any bonuses you get for signing up, perks for traveling, how much interest you pay on balances, and if you can transfer balances from other cards.
Lending Options (15%): We checked out the different kinds of loans they offer, like personal loans, student loans, mortgages, and loans where you use your home as collateral.
Customer Experience And Bank Reputation (20%): We looked into how easy it is to use their online and mobile banking, how helpful their customer support is, what people say about them online, any awards they've won, and how stable they are financially. This gave us a good idea of what it's like to be a customer and how much people trust them.
Compare Capital One With Other Banks
Discover Bank is a full-service online bank as well as a provider of payment services. Discover can be used for banking and retirement planning by individuals. Discover is best known for its credit cards with rewards, but it also provides personal, student, and home equity loans.
Capital One began as a credit card company, but it has grown to offer a diverse range of traditional banking services over the years. In addition to credit cards, it offers checking and savings accounts, loan refinancing, auto finance, and children's accounts. As a result, Capital One is more appealing to those seeking a traditional banking experience.
Read Full Comparison: Discover vs Capital One: Which Bank Account Wins?
Capital One is a premium online banking service that offers convenient, dependable service and physical locations to anyone looking for them. Capitol One 360, in addition to providing a trustworthy and dependable service, has no hidden fees or minimums, allowing you to continue earning interest on your daily money. There are over 38,000 fee-free ATMs and over 2,000 Capital One ATMs to meet your money access needs.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. American Express National Bank is a respectable, secure banking option that does not offer any extra features but does offer the most important one.
Read Full Comparison: American Express vs Capital One: Which Bank Is Better For You?
CIT Bank offers a variety of savings accounts. Savings Connect has two tiers, with the first offering a higher rate if you make qualifying deposits and link your checking account. Savings Builder, on the other hand, offers 3.99 percent if you keep a balance of $25,000 or make monthly deposits of at least $100. There are no account maintenance fees, but you can only make six transactions per statement cycle.
Capital One offers a high yield savings account with a slightly lower rate than CIT Bank's top rate. However, you are not required to jump through any hoops. The account allows six withdrawals per calendar month, but there is no minimum deposit or balance requirement to keep your account open.
Read Full Comparison: CIT Bank vs Capital One: Which Bank Account Is Better?
Chase and Capital One both have banking product lines that compete with traditional high street banks.
Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.
However, when you open a qualifying account, Chase will give you a welcome bonus, and its checking account has some nice features such as paperless statements for up to seven years and checking account upgrade options.
Read Full Comparison: Chase vs Capital One: Compare Banking Options
Capital One began as a credit card company, but has expanded its line of banking products to rival a traditional bank. Aside from checking and savings accounts, you can also get loan refinancing, auto finance, and children's accounts.
Wells Fargo offers an even broader range of products. There are several checking accounts available, as well as two savings accounts and investment options such as IRAs and 401ks. You can also get loans and mortgages, as well as wealth management services. Wells Fargo is thus a highly comparable alternative to the traditional high street bank.
Read Full Comparison: Capital One vs Wells Fargo: Which Bank Wins?
Ally has a decent banking product lineup that would make switching from a traditional high street bank relatively simple. Checking, savings, CDs, auto loans, personal loans, mortgages, investments, and retirement products are among the products available. The only obvious omission from the Ally line is the absence of a credit card.
Capital One began as a credit card company, but it has since expanded into a variety of other banking services. You can access auto finance, loan refinancing, and children's accounts in addition to savings and checking accounts.
Read Full Comparison: Ally vs Capital One: Compare Banking Options
Capital One began as a credit card company, but it has recently expanded its banking product line. Capital One offers checking and savings accounts, children's accounts, auto finance and refinancing, in addition to an impressive selection of credit cards.
Citi offers a diverse range of banking products, including checking and savings accounts, CDs, credit card options, mortgages, personal loans, wealth management plans, IRAs, and investment options.
Read Full Comparison: Citi vs Capital One: Which Bank is Best For You?
Bank of America has an impressive product lineup, as one would expect from a large banking institution. There are various checking and savings accounts, as well as numerous credit card options, auto loans, home loans, and investments. This makes switching from your current bank a breeze.
Capital One began as a credit company, but it has recently expanded its product line. You can now access checking and savings accounts, auto finance, refinancing, and children's accounts in addition to an impressive selection of credit cards.
Read Full Comparison: Bank of America vs Capital One: Which Bank Wins?
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