Capital One is running four separate bonus offers as of September 2026: two competing $250 checking bonuses, a tiered savings bonus worth $300 to $1,500, and a business checking bonus of up to $500. The newest wrinkle is that the two checking routes are mutually exclusive — you pick one at application, and the promo code cannot be added afterward. The terms have also tightened at the edges. Capital One's own disclosures exclude most existing savings and checking customers, and the 360 Performance Savings rate that determines what the savings bonus is actually worth has dropped to 3.00% APY, well below where it sat earlier in this promotion cycle.
Table of Contents
- The two $250 checking offers, and why you can only have one
- What the savings bonus pays, and what it demands
- The exclusions that disqualify most existing customers
- What the underlying accounts are like after the bonus posts
- The 360 Savings settlement, still unpaid
- The business checking route
- Frequently Asked Questions
The two $250 checking offers, and why you can only have one
The first route is promo code CHECKING250. You open a new 360 Checking account, receive at least two qualifying direct deposits of $500 or more within 75 days of opening, and Capital One pays $250 within 60 days of you completing that requirement. A direct deposit here means an electronic payment pushed by an employer or benefits payer, not a transfer you make from another bank. The second route, promo code DEBIT250, skips direct deposit entirely. It pays the same $250 for making 20 debit card purchases of $10 or more within 75 days of opening.
That is a meaningful alternative for anyone who is self-employed, paid by paper check, or unwilling to reroute a paycheck for a one-time bonus. The catch is structural. Capital One presents both on a single choose-your-offer page as alternatives, and the promo code has to be entered during the application itself. There is no second bite: you cannot open under DEBIT250, decide direct deposit is easier, and swap. Decide before you start the form.
What the savings bonus pays, and what it demands
The savings offer uses promo code BONUS1500 and pays on a three-step ladder. Per the terms Capital One publishes and Doctor of Credit's breakdown of the offer, depositing $20,000–$49,999 in new money pays $300, $50,000–$99,999 pays $750, and $100,000 or more pays $1,500. Two timing rules matter more than the headline numbers. The money must arrive within 15 days of opening, and the balance has to stay put for 90 days after that funding window closes — 105 days from opening, in practice.
The funds must also be externally sourced new money, meaning dollars arriving from another institution, not shuffled from an existing Capital One account. Run the math before committing. At the top tier, $100,000 parked for roughly three and a half months earning 3.00% APY produces something near $875 in interest; the $1,500 bonus roughly doubles that. At the $20,000 tier, the $300 bonus is the larger share of your return, which makes the eligibility rules — not the rate — the thing to check first.
The exclusions that disqualify most existing customers
This is where readers most often waste an application. Capital One's BONUS1500 terms exclude anyone who has held a 360 Performance Savings, 360 Savings, 360 Money Market, Savings Now, or Confidence Savings account on or after January 1, 2024. That is a long lookback, and it captures a large share of the bank's existing deposit base. Prior 360 Checking holders are likewise shut out of the checking bonuses.
There is a second filter that is easy to miss. Capital One states in its help center guidance on account bonus offers that some bonuses are targeted rather than open — eligible customers receive a letter or email containing a code. A code you found published online is not proof that you personally qualify for it. Before applying, check:.
- Have you held any Capital One savings product since January 1, 2024? If yes, the savings bonus is out.
- Have you ever held 360 Checking? If yes, both $250 checking offers are out.
- Did the code arrive in a mailer or email addressed to you, or did you find it published? A targeted code may not apply to your profile.
- Is your incoming money coming from outside Capital One? Internal transfers do not count as new money.
What the underlying accounts are like after the bonus posts
A bonus is a one-time payment; the account is what you keep. The 360 Checking account carries no monthly fee, no minimum balance requirement, and no overdraft fees. That makes it a reasonable account to hold even if you only opened it for the promotion. One disclosure deserves attention, though.
Capital One's overdraft options page states that no-fee overdraft coverage requires deposits of at least $250 in two of the previous three calendar months. A brand-new account cannot satisfy that history, so the coverage is unavailable until the third calendar month at the earliest — precisely the window when you are meeting bonus requirements and possibly running the balance low. On the savings side, the rate story has moved against depositors. NerdWallet's high-yield savings tracker, updated September 17, 2026, lists 360 Performance Savings at 3.00% APY, down from the roughly 4.00%–4.35% quoted on the same account earlier in this promotion cycle. The bonus is fixed; the yield behind it is not.
The 360 Savings settlement, still unpaid
Separately from the promotions, Capital One is working through the $425 million settlement over 360 Savings interest rates. Judge David J. Novak in the Eastern District of Virginia granted final approval on April 20, 2026, and payments were scheduled for on or about July 27, 2026.
A pending appeal has suspended those payments. Two practical points follow. If you are a class member waiting on a payment, keep your address and payment election current with the settlement administrator, because an appeal delays distribution rather than cancelling it. And note that Capital One raised 360 Savings rates to match 360 Performance Savings on August 4, 2026, which removes the rate gap at the center of the case going forward — but does nothing to change your bonus eligibility, since holding a 360 Savings account since January 2024 is itself a disqualifier.
The business checking route
Business owners have a fourth option that sits outside all of the above. Promo code SBOFFER500 pays up to $500 on a new Basic or Enhanced Business Checking account, with two conditions running in parallel: maintaining a $5,000 end-of-day balance for 60 days within a 90-day window, and completing 10 qualifying electronic transactions.
The end-of-day balance requirement is the harder of the two for a working business account. Sixty days at $5,000 means the balance cannot dip below that threshold on any of those days — payroll, a vendor run, or a quarterly tax payment can break the streak. If your operating balance regularly swings under $5,000, fund the account with a cushion above the minimum rather than exactly at it.
Frequently Asked Questions
Can I earn both the $250 checking bonus and the savings bonus?
They are separate offers on separate account types, but the exclusions interact. Opening 360 Checking does not block the savings bonus, and vice versa — what blocks you is having held either product type before. Read both sets of terms against your own account history before applying for either.
What counts as a qualifying direct deposit for CHECKING250?
An electronic deposit of $500 or more pushed from an employer, payroll provider, or benefits payer. You need two of them inside 75 days of opening. A transfer you initiate from another one of your own bank accounts is not a direct deposit under these terms.
When does the savings bonus actually arrive?
The clock is 15 days to fund, then 90 days holding the balance — 105 days from account opening before you have met the requirement. Payment follows completion, so plan on the money being committed for roughly three and a half months, not three.
I found a promo code online. Will it work?
Not necessarily. Capital One says some bonuses are targeted, with codes sent by letter or email to specific customers. Entering a targeted code you were not sent may produce no bonus even if the application goes through.
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