Although there have been some high-profile purchases of major banks in the last decade, there are still a number of financial institutions from which to choose services like credit cards, traditional banking, investments, and advanced lending such as mortgages and personal loans. Capital One has undergone significant growth and visibility in the last decade by starting to offer various financial services beyond revolving credit accounts.
Capital One Grows through Acquisition
With the purchase of ING Direct in late 2012, Capital One instantly acquired the holdings of the largest direct bank in the United States, although the acquisition hasn’t yet been fashioned as a complete merging of Capital One’s other services and its bank accounts. Upon visiting the Capital One credit card login, users who want to access Capital One online banking will need to use a drop-down menu and log into a different interface.
Additionally, Capital One features a number of other financial services such as auto finance and car loans, home loans, and investment opportunities. Each of these services is available through a separate sign-in; however, a user’s investment account is also available through the banking interface. Although it might seem convenient to have a credit card serviced by Capital One and have an online bank account from Capital One 360, there isn’t a significant level of integration between the two types of accounts.
Capital One Credit Card Features
There are around a dozen different revolving account credit cards available from the company and the frequently advertised “Venture Rewards” card tends to be the most popular as it’s easy to rack up frequent flyer miles. Another rewards card that is particularly popular is the “Quicksilver Rewards” card, which offers cash back of up to 1.5% on purchases. There’s also a cash bonus of $100 associated with signing up for the card.
There are also a few Capital One cards meant for businesses called “Spark” cards, and these cards offer a higher level of cash back on purchases. For example, the “Spark Cash for Business” card offers 2 percent cash back on each purchase and has a fairly respectable $59 yearly fee. There is also a business credit card called the “Spark Miles for Business” card that gives 2 miles for each dollar spent on the card.
Capital One Bank Account Features
Capital One 360 is a bank that features access online or through a mobile app. There are no physical locations for these bank accounts, so activities such as depositing checks must be handled through Capital One’s mobile banking app. The app provides simple features, and an easy method for check deposits (taking a picture of the check with a smart phone is all it takes), but the average time frame for funds availability is a little longer than a traditional brick and mortar bank.
Capital One has expressed interest in partnering with existing banks or building their own branches so faster deposits might be available soon. The interface for internet banking is also a simple affair, and users will notice that it’s possible to do just about everything that a teller might handle from this online access. For example, for anyone who needs a cancelled check but doesn’t have a checkbook, there’s an option to print out this document directly from the online banking interface.
Other Capital One Services
Like most major financial institutions, Capital One offers auto finance, mortgage loans, and investment plans, so a borrower might be able to have every financial account with the bank. Vehicle loans offer a fairly straightforward application process, and Capital One will finance both new and used vehicles. They also offer to refinance existing auto loans; however, care should always be taken with refinancing to ensure that the overall amount paid will be lower. Speaking with Capital One employees via telephone is recommended before applying for a refinance loan.
Like many major banking entities, Capital One also offers general mortgages, such as variable-rate loans, installment loans, and fixed-rate loans. Like most lenders, Capital One has put a lot of effort into creating online access to all of its financial products, and this extends to mortgages and vehicle loans.
One of the only facets of Capital One’s services upon which the company could improve would be a smoother integration of different services into a single interface. Although they offer a variety of financial services, each account may seem separate from another, even though a person might have a car loan and a bank account that are each serviced by Capital One.
Capital One offers a variety of financial services that cover just about every facet of banking, credit cards, and loans; however, it’s always best to diversify somewhat with services from different financial entities. Capital One has emerged as a significant player in the financial world, and although there isn’t a physical bank on every corner like you might see with Bank of America, Capital One still offers a variety of services that once would have only been available by walking into a bank branch.