Easy $300 checking bonus with Capital One 360

Capital One 360 is currently offering a $300 bonus when you open a new checking account and receive two direct deposits of $500 or more within 75 days of account opening. That’s quite an easy bonus to hit and at $500 for those playing in two-player mode, it becomes even more attractive. This bonus is available nation-wide.

The Deal

• Capital One is offering a $250 bonus when you open a new 360 Checking account with bonus code OFFER300 and receive two direct deposits of $500 or more within 75 days of account opening
• Direct link to this deal

Key Terms

• To earn the bonus, you must:
  • Open a 360 Checking account on or after November 13, 2024, using promotional code OFFER300.
  • Set up and receive at least 2 qualifying direct deposits each of $500 or more to your 360 Checking account within 75 days of account opening. A Qualifying Direct Deposit is a regular periodic payment, such as salary, pension, government payments (for example, Social Security), or other monthly income that occurs as an Automated Clearing House (ACH) or Real-Time Payment network credit from your employer or an outside institution. ACH credits or fund transfers initiated via the Capital One website or mobile app and wires are not considered a Qualifying Direct Deposit.
• If you have or had an open 360 Checking, Simply Checking, Total Control Checking or Money Teen Checking account as a primary or secondary account holder with Capital One on or after January 1, 2023, you will be ineligible for the bonus.
• Your bonus will be deposited into your account within 60 days after you have completed the requirements above. This 60-day period begins the day after your second Qualifying Direct Deposit has been posted to your account.

Quick Thoughts

This is a very easy checking account bonus to earn. While the terms require two direct deposits of $500 of more and indicate that ACH transfers will not count, data points show that the direct deposit requirements can be easy to meet with a variety of activities.

Nick has had a Capital One 360 account for many years and has frequently used it to meet direct deposit requirements at other banks as ACH pushes from his 360 Checking account almost always trigger direct deposit requirements at other banks. The 360 Checking account has no fees and no account minimums, so it has been very easy to keep the account over the years.

Speaking of keeping the account, there’s no early termination fee if you meet the terms of the promo and earn the bonus and then decide that you no longer want to keep the account. On the flip side, if you have or had an open 360 Checking, Simply Checking, Total Control Checking or Money Teen Checking account as a primary or secondary account holder with Capital One on or after January 1, 2023, you will be ineligible for the bonus.

Overall, this bonus looks like easy money. We like checking account bonuses with low requirements and often look at them in terms of the total being doubled since if you’re in 2-player mode.

We often say that one can look at bonuses like this in terms of the points they could buy — for instance if you used bonuses like these to buy Hilton or IHG points when they go on sale for half a cent per point. Doing this, you could potentially buy 60,000 points with a $300 bonus (or double that in two-player mode). Bonuses like this one can make for a nice slush fund for stuff like that and, if you’re able to leverage those points for a great redemption, all the better.

Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.