Capital One Interest Online Checking

Capital One Bank is now offering a new checking account product called Interest Online Checking. The current rate is 1.10%.  And this is not a tiered rate, meaning you will earn 1.10% on your balance regardless of what it is.

Some features of the online account are:

• No fees or minimum balance requirements
• First order of paper checks is free
• Free Online bill pay and online banking
• Free MasterCard Debit Card to access your funds
• Your ATM Fees will be reimbursed up to $10 each month
• ACH Transfer between you Capital One Checking and your existing bank

It appears that this account is available in areas that do not have physical branches. Their branches are mainly located in New York and Texas, so it is safe to assume that it should be available in most areas. It asks you for a zip code prior to allowing you to open the account, so you will know for sure right away.

Once you add in the $10 ATM reimbursement and a non-tiered interest rate, this account seems pretty competitive with the likes of Ally Bank and ING Direct’s checking account products. It also is nice that they offer paper checks. ING Direct’s electric orange checking does not allow for paper checks, so if actually having a checkbook is important to you, then you may consider opening an account here.

There is no capital one promo code for this account, but with all the features and it being a completely free account that earns interest, I think the account pretty much speaks for itself.

Checkout Capital One’s Interest Online Checking page for more details and to appy.

Hot Brokerage Promos

Since the market has turned around a bit many of the online brokerage sites are offering promos to get you to open an account. Now is not a bad time to start investing since the market is still of its highs from last year but seems to be rebounding a bit. Sure we still may be in for a rocky ride, but if you are investing in the long term, now is the perfect time to get going. If you have some extra money to invest I suggest you look at one of these promos prior to signing up with anyone.

Here are a few of the current ones going on:

• Tradeking Promo – Get up to $150 in transfer fees credited to your account when you transfer your account from another brokerage to Tradeking (see post for more details)
• ETrade IRA Promo – Open an ETrade IRA and get 100 free trades. (See post for more details)
• Zecco Promo – Zecco brokerage gives you Get 10 free stock trades every month if you $25,000 balance or make 25 paid trades each month. Otherwise the commission is only $4.50 / trade which is one of the lowest out there. (See more details here
• OptionsXpress Promo – OptionsXpress is giving away $100 when you open a new account with them. (See post for more details)
• Firstrade Promo – Firstrade is giving away 5 free trade when you open a new account. (See post for more details)

$100 Chase Freedom Promo

There is a new Chase Freedom Promotion where you can get $100 after opening a new account and spending $799 within the first three months. You will receive the bonus as a $100 cash rebate which you can then get redeemed as a check for $100. You should receive the bonus in your account roughly six to eight weeks after you have totaled $799 in purchases within the first 3 months of the account being opened. You must be a new card member to be eligible for this bonus.

In addition to the $100 Chase Freedom Bonus, this card is also a cash back rewards card. You will receive 5% cash back from purchases on rotating categories like gas, home improvement and department stores and will receive 1% back on all other purchases. And those cash back rewards never expire, unlike some other cards out there.  Here are the next 2 categories for the year that will pay you 5% back:

$100 bonus and 5% cash back makes this one of the best rewards cards out there. Another great feature is that this card has no annual fee. The APR on this card ranges from 12.99% to 22.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

Check out the Chase Freedom Promo page for more details.

Bing Cash Back is Ending!

For those of you that have been using Bing Cash back, a sad day is upon us. While I was logging into my account, I noticed a little message that said the following: “As of July 30th, 2010 9:00 p.m. PT, we will no longer be offering the cashback program”. According to their Community Site it says that “did not see the broad adoption that we had hoped for”.

This is said in the fact that Bing Cashback had the highest percentages of cash back than any other cashback site. And at times they would do an unadvertised promo like when they did the 20% cashback at Walmart.com last Christmas, or the current 20% cashback at Drugstore.com.

Yes I will admit I was a late adopter of Bing Cash back and was starting to finally get into it. All in all, it wasn’t a total loss. I received just under $200 cash back since I started using the site last December, but I was hoping for a lot more.

I guess it is time to move on and back to the likes of Ebates, Mr Rebates and Big Crumbs. It will be hard to miss that 20% back, that is for sure.

$50 Tradeking Promo – May 2010

There is a new Tradeking Promotion this month where you can get a $50 bonus when opening a new account. This bonus is referral based so you need to receive a referral email from me to qualify for it.:

• Open a Tradeking brokerage account by completing the form on the Tradeking Promotions Page  or complete the form below with your email address.
• Open a new Tradeking account using the link in the email
• Deposit at least $1000 into the account and execute 1 trade
• Leave the referral money in the account for at least 6 months

Thats it, once the 6 months period is up you can do what you want with the 50 bonus. Not a bad 5% return if you deposit only the requred $1000. Also keep in mind that you can refer others as well once your account is opened. You will receive a $50 referral bonus when you friend opens an account. That friend will receive the $50 as well. There is no limit to how much you can make here.

If I already didn’t have a tradeking account, you bet I would be in on this one!

This offer expires June 3, 2010.

1. Send a $50 TradeKing Referral To:
2. Your Email Address:(valid email required)

 

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(note: your email is not used for anything other than sending you the referral email)

Go to the Tradeking Promotions page for more details.

I also have a Tradeking Review out there if you are interested in reading about my experiences with them.

Ally Bank – Raise Your Rate CD

Here is an interesting new product being offered from Ally Bank. It is called the Raise Your Rate CD. Basically it works the same as a CD, but the twist is that it allows you to raise the rate once during the term of the CD rather then being locked into the interest rate as with a regular CD.

This is very nice since if rates start going up, which most likely they will be in the next few months, you have the opportunity to increase your CD to that rate. Currently the Raise Your Rate CD is being offered at 1.99% for a 2 year term. If rates start increase, just give them a call and have your CD set to that new rate.

The Raise Your Rate CD also comes with Ally’s 10 day best rate guarantee which means when you open the CD and the rate increases in the first 10 days of the CD period, you will receive that increased rate. This does not count toward your one time CD rate increase.

Another nice feature of Ally Bank CD’s is that they will automatically renew when the term is up if you don’t call them ahead of time to cancel the renewal. When the CD does automatically renew it will do so at the current rate for that CD, so if you plan on just letting your money roll then there is nothing you need to do to receive the most recent rate.

This is a great deal considering that the 2 year rate is pretty competitive and with the option to increase that rate of the 2 year term it is hard to find a better place to hold your money. Ally Bank, formerly known as GMAC Bank, is FDIC Insured and has been around for many years. It also has a history of having very competitive rates along with no hidden fees in their products.

More details on the Raise Your Rate CD.

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