Headquartered in McLean, Virginia, Capital One is a financial organization that provides loans, banking, checking, savings accounts, credit cards, and more banking solutions. In terms of assets and deposits, it is the eighth largest bank in the United States, and tenth in terms of assets. Capital One is also the fourth largest bank auto lender and earns most of its revenues from credit cards.
Capital One operates in the United States, Canada, and the United Kingdom. It has 755 branches and 2000 ATMs all over the country. Out of the 755, 18 of the bank’s branches are in the style of a café. The bank offers both consumer and commercial banking services.
Services Offered by Capital One
Capital One offers its services across the Personal, business, and commercial banking domains. From savings and checking accounts, to credit cards, to wealth management advice, Capital One provides all kinds of services.
Capital One gets about 62% of its revenue from credit cards and has something for everyone. It provides specialized credits cards for students and businesses as well. The Venture Rewards cards allow you to earn travel miles with every purchase and come with a minimal annual fee that can be waived. Apart from that, the company also provides quicksilver cards that earn you cashback over every purchase. The Savor cards have been designed for people who eat out a lot so they earn more on groceries, and dining experiences. Capital One also offers several Spark cards which earn you cash back over different purchases. Spark cards are standard cards which are designed to cater to a large audience.
Capital One offers five traditional savings accounts depending on one’s needs. The first one is a 360 money market account that requires a minimum balance of $10000 and offers and APY of 1.6%. The 360 Savings account is a standard savings account that offers an APY of 1%. The kids’ savings accounts offers the same rate of interest and both the options do not require one to maintain a minimum balance. Capital One also offers IRA savings accounts. The rate of interest offered by Capital One is quite high compared to its competitors. For more information on online banking please check this Capital One credit card login guide.
The 360 checking account offered by Capital One offers some of the highest rate of interest at 0.04%. The bank requires no money to open and works on zero minimum balance. You can also open a standard checking account at the bank for your teen. The 360 accounts offer most of their services through online and mobile banking. Therefore, as long as you have access to a smartphone, you won’t have to visit a branch.
Capital One provides Auto loans to find and finance a new or an old car. You can also refinance your previous loan through the bank. The online banking of the Capital One also allows you to calculate your loan well and helps you understand the process of payments. You can also ask the bank to manage your loan account.
Another set of consumer based products offered by Capital One are wealth and asset management. The bank helps you choose the right advisors based on your goals. These advisors evaluate the risk you can take, your financial goals, and more to figure out the right solution for you to invest your money into. Apart from that, you can also plan your retirement with Capital One and open IRA Savings accounts based on your needs.
Under business banking, Capital One offers several types of Spark Business credit cards to the organizations. It also provides small businesses with their checking and savings accounts. Capital One provides loan to small businesses and offers cash management services along with financial advisors.
Commercial Banking if offered exclusively to corporates with solutions like treasury management, asset management, private banking, commercial lending and more. Based on the industry, Capital One offers customized solutions as well. Capital One has also ventured into Capital Market and Depository services for corporates and manages their accounts as well.
Capital One offers great solutions in terms of both personal and business banking, but it only works best when the services are offered online. The bank doesn’t have a lot of branches around the country. But, it offers some of the highest rates of interest and a wide range of credit cards to its customers.
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