1. Does it look bad to open / close checking accounts ? I opened a first bank account like 1.5 years ago to take advantage of a $200 Amazon gift card promo they were offering and just kept the account. If I close that and open this is it a pull on my credit ? I don’t want to mess with my credit because I actually have good credit for a 23 year old.

    • Steve Pinski says:

      I can’t remember if there was a credit pull or not. If so, inquiries barely ding you and the effect on your score is minimal. The CapitalOne account doesn’t have any fees, so there’s no harm in adding this account without closing the other one if you want to maintain the other relationship.

  2. AshleyAshley says:

    I’m looking at the website and considering doing this, but it doens’t state the minimum balance to open the checking account. It also doesn’t say if there is a minimum time needed to keep the checking account open to retain the bonuses. Do you have any information on those points? Thanks

    • Steve Pinski says:

      Because the $500 deposit on the savings stretched me last year when they offered this deal before, I only deposited $100 in the checking account. If I remember correctly, the bonus is credited around day 50 on the checking and once it is released you can do as you wish with it.

      • Steve Pinski says:

        By the way, here’s a tip I used last year. I did five small drugstore transactions – $1-$2 of sales tax each – to get my five transactions done for the checking bonus.

        • elizabeth says:

          yes they do a credit check.. declined.. and I really need the money, that’s why I am devoted to saving!

          • Steve Pinski says:

            Sorry to hear that :( Glad you’re in the right place though. We’ll help you save a lot of $$$

  3. jennifer says:

    Thanks for the tip. I signed up for both. And then what do you know….I could link my sharebuilder account to this new account. Cool beans. :)

  4. Do you know if there is more time to get the savings account than 1 day? I looked on the site but didnt see the deadline. I signed up for the checking and got it- so thanks a million!

  5. Kenisha says:

    Do you know if the bonus is one per person/account, or one per household?