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More Rewards for Everyone!
In the past several days, I've seen subway ads for Capital One's free checking account, with Rewards. It's nothing new to reward you for banking with a specific bank. What seems different to me is what gets rewarded. It seems like they will reward you for just using the checking account to pay bills and just about anything else you do with your checking account.
Too Good To Be True
Sound too good to be true? I think so. According to their website, these checking accounts are only available through their bank branches in Connecticut, Louisiana, New Jersey, New York and Texas. So if I wanted to open an account, I would need to go to a local bank and open one up. There are many banks with online presences that allow you to open an account online, which saves time! If you are missing documentation during your "Bank Branch" visit, you might have to waste more time!
I'm not sure I would want to open up a checking account that is only available in only these states. Why would I not just stick with my neighborhood bank then? Sure I don't get rewards with my current bank, but I also do not get all kinds of hidden fees and charges. Money has to be made somewhere right? Otherwise how does a bank stay afloat?
Do you have one of these checking accounts? Is it as good as it sounds? How do you like your current checking account? Do you even use a checking account?
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Photo by Andres Rueda