Table Of Content
When Chase Bank Wins?
Both Chase and Capital One have a banking product line that rivals conventional high street banks.
In addition to its checking and savings accounts, Chase offers home loans, auto loans, home equity loans, and a variety of credit card options.
Chase can be a better choice than Capital One if:
You need a luxury credit card
You can meet the fee waiver criteria
You want a promotion bonus
When Capital One Bank Wins?
Capital One built its reputation as a credit card company, but it has developed a respectable line of banking products.
There are checking and saving accounts, loan refinancing, kids’ accounts, and auto finance.
Capital One can be a better choice than Chase if:
You plan to deposit high amount on CDs / savings account
You need a student credit card
- You're ready for an online bank
Money Market Account
Both accounts are limited to a maximum of six withdrawals per month and both offer savings tools. However, when comparing the Chase and Capital One savings accounts, immediately you can see that Capital One has a far better rate. It offers an impressive 4.30% compared to the 0.01% – 0.02% offered by Chase. Another advantage is that Capital One’s savings account is completely fee free.
While it is possible to have the $5 fee waived by linking your checking account or maintaining a $300 account balance, you still need to monitor the account to ensure you don’t incur a fee.
Capital One Bank
0.01% – 0.02%
$5 per month Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account
Capital One also has the edge in terms of checking accounts. Not only is the Capital One checking account fee free, but you can also earn interest on your account balance. Chase’s checking account does not attract interest and you need to make sure you meet certain conditions to have the $12 per month fee waived.
However, Chase does offer a welcome bonus when you open a qualifying account, and its checking account does have some nice features including paperless statements for up to seven years and checking account upgrade options.
Capital one Bank
$12 Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
When it comes to CDs, Capital One seems to be a better option. In addition to lower minimum deposit, you'll earn higher interest on your savings.
4.10% – 5.25%
3.00% – 5.00%
APY 6 months
4.00% – 5.00%
APY 12 months
3.00% – 3.75%
APY 24 months
APY 36 months
No Penalty CD
This is an area with no comparison. Chase various mortgage options, including fixed rate and ARM loans. Chase also offers FHA and Jumbo loans. You can also get prequalified for your mortgage to speed up the home buying process. You can also purchase discount points on your mortgage deal for both home purchases and refinance packages.
However, currently Capital One does not offer mortgage products.
Both banks offer various loan products. While neither bank offers a personal loan, Chase has auto loans to finance your new or used vehicle. Capital One has slightly more loan products, with refinance loans and auto loans along with business lending.
Chase has a vast selection of 30+ credit card options. There are more than 20 travel cards, 7 business cards, and 7 hotel cards. Chase has a number of partners including Southwest, United, Hyatt, Disney, Amazon, and Starbucks. This allows you to tailor your card rewards to your preferred brands.
Most of the Chase cards have no annual fee, but there are some exceptions. For example, the Sapphire Reserve card has a $550 annual fee, but you can earn 5x points on flights and 10x points on car rentals and hotels.
Chase also offers some intriguing cards, such as the Chase Freedom Flex. Each quarter you activate this card, you can earn 5% cash back on up to $1,500 in combined bonus category purchases.
Capital One also has an impressive variety of credit cards. The bank’s website allows you to browse the card options by credit rating, category and rate. If you have excellent credit, the Venture Rewards card offers 2X miles for every dollar with no annual fee. You could also qualify for the QuickSilver Rewards card that offers an unlimited 1.5% cash back on all your purchases. If you want greater rewards, with an annual fee of $150, the Spark Cash Plus card pays 2% unlimited cash back.
Even if you only have fair credit, you’ll still have some great card options, for example, the QuickSilverOne Rewards card offers 1.5% unlimited cash back. If you’re looking to rebuild your credit, there is the Platinum Secured Card that is available with a deposit of $39 or more and provides a credit limit of $200. Capital One will also consider a credit limit increase after six months. There are even student cards that offer tiered rewards for those in full time education.
Chase’s customer service system is quite comprehensive. In addition to an indepth help website page, there are customer service lines, Twitter and Facebook support 7 am to 11pm ET Monday to Friday and 10 am to 7 pm ET on the weekends, or you can schedule a meeting with an agent in your local branch. Chase even has a dedicated line for military personnel and veterans whether they are here or overseas.
Capital One’s support is a little more complicated. The bank has numerous dedicated phone lines according to your specific issue. So, if you have a credit card query, you’ll need a different line compared to those with a savings account issue.
However, this does mean that you won’t be put on hold while you’re transferred to the relevant department. You can access the support page on the Capital One website and click on the appropriate link to access the phone number and details about when the service team is available. There is also a mailing address or you can tweet @AskCapitalOne.
Both Chase and Capital One have average ratings on consumer review platforms. Chase Bank has an average 3.7/5 score on Consumer Affairs, while Capital One has a 3.6/5 score. Unfortunately, the ratings are not so favorable on Trustpilot, with both Chase and Capital One scoring a pitiful 1.3 out of 5
Both Chase and Capital One have an app for iOS and Android devices. Chase’s app has similar ratings with 4.8/5 on the Apple Store and 4.4 out of 5 on Google Play. The Capital One mobile app is rated 4.8/5 and 4.9/5 on Apple and Google.
Both sites have a clean design and are easy to use that offers a great user experience. You can fully explore and compare the products and access how to videos and other support materials.
Which Bank is The Winner?
Both Chase and Capital One are large reputable financial institutions, so to summarize which bank is better, we will need to recap the positives and potential negatives.
Chase has some innovative features, but Capital One offers far better rates on savings. Since you don’t need to worry about account management fees or the conditions to have the fees waived, you can concentrate on other aspects of your finances. If you are interested in CDs, which bank is better will depend on your preferences and circumstances. Both banks have no minimum deposit, but while Chase favors higher deposits with better rates, Capital One rewards investors who commit to a longer term.
Both banks offer a vast choice of credit card options, so it really comes down to what rewards and what brands you prefer to decide which bank offers the best choice for you.
Chase Bank offers bonuses on their checking account as well as welcome bonuses on many Chase credit cards. As of September 2023 , the Chase Total Checking offers $200 for opening a new account.
As of September 2023, Capital One banking promotions are quite limited. Learn more about the Capital One new account bonus promotions.
The main benefit of Capital One bank account is the high rates you can get on its savings products. Whether you're looking for savings account, CD or MMA – the rates on Capital One are much higher compared to what Chase offers.
Capital One has some excellent products to help teens learn about finances. The Money teen checking account is actually open to children aged 8+. The account has parental controls that allow parents to keep an eye on their child’s spending and help them with teachable money moments. There are no fees or account minimums and the account comes with a free debit card.
There is also a kids savings account that is fee free with no minimum balance that pays 0.30%. You can link the accounts, which will help make it easier for your kids to manage their money and save.
Chase does have a strong history and a solid financial background. In addition to being FDIC insured, the bank has repaid its 2008 federal bail out funds.
This suggests that the bank was able to bounce back from the worst financial crisis in recent history. So, it stands to reason that Chase is prepared to handle any adverse economic times in the near future.
Capital One has made it easy to close your account, as you can complete the entire process online. When you sign into your account, you’ll find the option under the drop down menu.
The bank warns that your card will no longer be active and you’ll need to stop any regular automatic charges or you may incur charges. The bank will continue to issue statements until you have a zero account balance, so you can keep an eye on things.
As part of the JP Morgan group, Chase provides access to investment options from its sister company. You can work with an advisor or trade on your own in stocks, ETFs and options.
This means that you can use this platform to purchase gold stocks or invest in gold ETFs. New customers can also enjoy $0 online trades with unlimited commission free transactions with specific products. However, Chase has a very transparent fee structure, so you can make an informed decision about your investment strategy.
Alliant Credit Union Review
Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.
American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.
Read Full Comparison: American Express vs Chase Bank
The Chase and Citi checking accounts both have no minimum deposit and a monthly account maintenance fee of $12. This can also be waived with a balance of $1,500 or more, or with qualifying deposits.
Furthermore, both have a very impressive selection of more than credit card options.
Read Full Comparison: Chase vs Citi: Which Bank Account Wins?
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
Because both Chase and TD Bank provide a comprehensive range of products, we'll need to summarize the benefits and drawbacks to determine which bank is superior.
Chase offers some novel features, including the possibility of comparable CD rates without the TD Bank's minimum deposit. However, there is little to distinguish the checking accounts, as TD Bank's savings rate is twice that of Chase.
Although Chase has more credit card options, don't discount TD Bank, which has some interesting options.
Read Full Comparison: Chase vs TD Bank: Which Bank Suits You Best?
The Discover checking account is more traditional. While the account does not pay interest, you can earn 1% cash back on debit card purchases. There are also no fees if you require a replacement debit card, have a deposit item returned, or have insufficient funds in your account.
Chase offers a wide range of banking products, including savings accounts, checking accounts, home loans, home equity options, auto loans, and a wide range of credit cards. In addition, Chase's customer service system is quite extensive.
Read Full Comparison: Discover vs Chase: Which Bank Account Suits You Best?
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?
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?
Capital One made its name as a credit card company, but in recent years, it has developed a decent banking product line that rivals that of a traditional bank. Capital One offers loan refinancing, kids' accounts, and auto finance in addition to checking and savings accounts.
Credit One remains primarily a credit card company, but it does offer a limited range of banking products, including CDs.
Read Full Comparison: Capital One vs Credit One: Which Bank Account Is Better?
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?
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?