If you have $150k liquid, you can get an easy $1000 for free (attention bottomset)

[handicapme]

mumbles, think about this...if they're so hard up for liquidity/funds or whatever to meet regulatory requirements why the hell would they offer a promo in which somebody could withdrawal 99% of their $150,000 within 60 days? so great they meet their liquidity requirements for their next reporting period...then what happens in 90 days when they have to file a quarterly report? they then have to find more individuals who will give them $150,000 so that they can meet their financial requirements...later, rinse, repeat...how many people do you think they can find with $150,000 in cash just lying around so that they can make sure their regulatory numbers are met every quarter?

handicapme is right...you think if they had these kinda funding issues, that people on the street wouldn't have known about it months before they even had those problems...wall street is a trillion dollar industry, if somebody could make money off of capital one having liquidity issues they would have been shorting that fucker down to $0...

But why have the offer expire at year-end? Why not run it continuously as a loss-leader that is covered by the higher profit cross-selling? If Capital One’s management is acting rationally, there’s a reason the offer expires at year-end that is unrelated to the prospect of generating cross-selling profits on the new customers. Especially when the kind of customers such a limited-time offer will attract are penny-pinching bonus whores who will jump
at moving their money after the 60 day vesting period. And how likely are they going to be able to cross-sell to those cheapskates?

Hey mumblesfuck everyone needs a credit card, mortgage or potentially line of credit... now that you signed up they have your info. Pull your cash but be ready to get 2-3 mailers a week for as long as you live at that location. I can promise you that their management is acting very rationally while the google literate truck driver can't think at their level. I would be more than happy to bet any amount you want that they are not remotely close to having funding, loan loss or any balance sheet issues at this time or at least another 1-2yrs.

[MumblesBadly]

But why have the offer expire at year-end? Why not run it continuously as a loss-leader that is covered by the higher profit cross-selling? If Capital One’s management is acting rationally, there’s a reason the offer expires at year-end that is unrelated to the prospect of generating cross-selling profits on the new customers. Especially when the kind of customers such a limited-time offer will attract are penny-pinching bonus whores who will jump
at moving their money after the 60 day vesting period. And how likely are they going to be able to cross-sell to those cheapskates?

Hey mumblesfuck everyone needs a credit card, mortgage or potentially line of credit... now that you signed up they have your info. Pull your cash but be ready to get 2-3 mailers a week for as long as you live at that location. I can promise you that their management is acting very rationally while the google literate truck driver can't think at their level. I would be more than happy to bet any amount you want that they are not remotely close to having funding, loan loss or any balance sheet issues at this time or at least another 1-2yrs.

Good luck attracting customers who aren’t bonus whores who have both the time AND the cash available during the Christmas season to move money into a new bank account.

But I will offer an alternate explanation for the year-end deadline that is even more concerning than a potential loan loss crunch: Some kind of compensation bonus plan that handsomely rewards some level of management for hitting a “new deposit customer” benchmark by year-end even if it induces higher deposit variance after the offer vesting period expires in the next fiscal year. ‘Cause that will be someone else’s problem.

[monsterj]

You can use it on a CD or money market or any non 401k type investment. And once you get the points you can downgrade and move ur cash away. I have a Chase reserve card so it was a no brainier for me.

I'm sorry, I don't understand by, "You can use it on a CD or money market or any non 401k type investment."

Are you telling me that I could get the same deal by signing up for one of their other type of accounts, and not necessarily the checking one?

Yes, that's exactly what I am saying. You sign up, deposit $75K in any of their types of accounts(non-retirement), and you get 60K points(after 3 months) and free saphire checking while you have 75K net deposited. That's what I did.

I would never have 75K in a checking account, unless I am going to write a 75K check.

[MumblesBadly]

handicapme: You're an idiot and know nothing about finance or how corporate pay structures work. I'm done.

You know nothing about my knowledge of management compensation systems. But to help others here do so, here’s a primer on a recent bank management fail fueled by a stupid compensation plan.

https://www.americanbanker.com/opini...ntive-failures