If you are looking for a new credit card, the Capital One 360 credit card from Citibank is an option you should look into. This is a traditional checking account with a rewards program. It has been designed to allow you to get more value out of your money. It can help you save on gas and groceries. Here is what it can do for you.
The benefits of the Capital One 360 credit card are many. You have a verified 4 days in store. This means you are able to purchase items at any time during business hours, even if it's your last minute purchase. You don't need a card for gas either, which was a problem with some banks. You can keep track of your spending and pay off your balance every month automatically. This helps you budget easier.
You also get an automatic electronic direct deposit to your savings account. This means you don't have to make a separate bank withdrawal, wait for the money to appear in your checking account, and add it to your savings. With the automatic electronic deposit, your capital one 360 credit card will even let you make electronic deposits to your account at any time. This will help you manage your finances better.
The Capital One 360 checking account has a rewards program you can choose from. Some of the options include gas and groceries. The card has an annual fee, but it is well worth it. You can get cash back when you shop at gas stations, order groceries online, or use the services offered at a bank.
The savings part of the card allows you to build your own savings. You can set up direct deposit for your savings. You can get automatic withdrawals from your savings account when you make purchases. The beauty of this card is that you don't have to remember to make a deposit in your savings account every month, and you don't have to write checks to withdraw money from your savings account.
Are there any downsides to the capital one 360 credit card? Yes, there are a few things you need to be aware. If you don't pay your bills on time, you won't receive your bonus money. You may also run into problems accessing the information on your account. MyFico forums found that roughly 20% of card holders have issues with accessing their account, and they also found that roughly half of those have issues accessing their bank account. These problems should be fixed by contacting your bank and reporting the issue.
Overall, the benefits of the card outweigh the disadvantages. The card has an online banking option, which makes it easy to manage your money. You can set up automatic deposits into your savings account whenever you make a purchase. You have a debit card, which can be used to make purchases and cash withdrawals when you need to. If you don't have a checking account, you still have a debit card.
Overall, the upside to this card is that you have convenience and security with online banking. The downside is that you will only get a credit score of “B”. You have access to a savings account, but this feature is only good for small amounts of money. Also, if you don't pay your bill on time, you will not receive your bonus money. MyFico customers found that about half of their card holders had issues with accessing their bank accounts, which might affect your ability to get bonus money.
The upside to this card is that you will enjoy a number of perks that the typical Bank of America customer will not get. You get cash back bonuses, which are worth two percent on the amount of cash you spent. You also get a fifteen hundred dollars bonus for opening a one year accounts with this company. The free checks, gift certificates, and rewards programs are worth the price of the card.
The downside to this card is that you will only get one percent back from your purchases. The rewards, however, are worth the cost of this card. You will earn five percent off of the amount of money that you save every month. The free checks are nice as well, but if you don't have a checking account, these won't be very useful to you. You might also find that the fifteen hundred dollar bonus is too much for your budget.
When applying for a Bank of America card, make sure that you choose the right one. Find one that offers the kind of perks that you like, then decide how much of your spending can be offset by those perks. Keep in mind that the minimum monthly balance for opening a one year savings account with this bank is fifteen hundred dollars. If you plan on using it for checking and other purposes, you may want to consider an interest-free or low-interest introductory offer. Finally, be sure to compare the rates and fees between online banking and traditional banking. The Capital One 360 may look great, but you'll probably pay more in fees if you do your banking online!