Capital One 360 Money Market Account – Offer200 Bonus Code

This special offer is currently being promoted and customers will have through December 14th 2018 to meet the requirements for the $200 bonus available for new 360 Money Market Accounts.  The account creation application will take about 10 minutes to complete and once your account is approved you will have the option to fund your account using electronic transfers from another banking account.

The requirements for this bonus offer are very simple – open a new account and deposit $10,000 in to your new account.  Once you have met the required deposit amount you money bonus will be distributed to your account within 60 days.  One nice thing about this offer is that you do not have to hold your money in the account for any required amount of time which means in theory, you could open the account, make your deposit to earn your bonus and then withdraw your funds.  While this may be tempting for some individuals there are many good reasons to consider retaining a money market account.  Here are the highlight of the Capital One 360 Money Market $200 Bonus Offer:

  • Funds cannot be deposited from an existing Capital One Account
  • The 1.75% return rate applies to accounts with more than $10,000 deposited
  • You must make the qualifying $10,000 deposit by December 14th, 2018 to earn your bonus
  • Customer assistance is available at 800-289-1992 from 8 a.m. through 8 p.m. 7 days a week
  • This offer can be accessed using OFFER200 promo code

Is A Money Market Account A Good Investment Strategy?

The short answer to this question is yes.  For customers who are risk adverse, a money market account is a great investment option as your funds will earn interest far in excess of what you can expect to receive in a traditional savings account.  If you are in a position where you do not feel comfortable investing in the stock market or other higher return investments, you can safely deposit your funds in a money market account with no risk of losing your investment.  The Capital One 360 Money Market Account earns 1.75% annually which is quite a bit higher than the average money market account which makes this an appealing option beyond the sign up bonus which is provided.

With that said, there are much higher return investment options available but of course those will come with some risks.  One higher return option which is also a safe investment would be CDs.  The downside with a CD is that you have to commit to keep your money in the account for a predetermined amount of time.  Unlike a CD, money market accounts provide much more liquidity.  Another common investment choice is the stock market.  Historically, safe index funds and ETFs can easily return greater than 7% annually on your investment.  The primary issue with the stock market that investors worry about is the potential for a major turn down in the market which would result in a loss in the short term.

Deciding whether or not a money market account is right for you requires considering many options but the biggest to things to take in to account would be how safe you want your investment to be and how liquid you require your funds to be.  Money Market Accounts are not the greatest return rate but they are much better than leaving your money in a standard checking or savings account so for this reason they may be a good option for many consumers.