Soon other non-banking companies began issuing cards with lower-than-standard interest rates and other perks. In , Richard Fairbank and Nigel Morris recognized the potential opportunities in the evolving credit card industry. They approached Virginia-based Signet Bank with the idea of creating a more technological approach to issuing credit cards. They suggested different types of cards with variable pricing and rate structures based on things like individual customer risk.
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The technology focus Fairbank and Morris introduced allowed them to target their lowest-risk customers and offer them better incentives than the other banks. It soon paid off. From day one, the new company was already one of the 10 largest credit card issuers in the country. They began marketing cobranded and affinity cards, as well as cards with no annual fee. They also started issuing secured credit cards to gain access to a new set of customers.
Behind the Issuer: Capital One
Building on their success, Capital One purchased Summit Acceptance in , entering into the car loan business. To prevent this, the company expanded into traditional retail banking in the early s by buying several regional banks. In and , Capital One completed two transactions that allowed it to further expand its credit card business and enter into the insurance business. The insurance business was renamed Capital One Despite the changes throughout the years, today's Capital One holds true to its original ideal of offering diverse credit cards to suit a range of consumers and credit types.
The bank offers a number of great rewards cards for good-credit consumers, competitive entry-level cards for those just getting started, and an upgradable secured card for consumers who need to rebuild.
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Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. The information on this page was reviewed for accuracy on May 23, As Managing Editor for CardRates, Adam oversees content and regularly interviews some of the payments industry's biggest influencers and decision-makers so our site can bring high-quality and engaging stories to our audience and keep readers informed on the latest trends and technology in the space.
Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which CardRates. This compensation may impact how and where products appear on this site including, for example, the order in which they appear.
See the credit card issuer's website for specific terms and conditions of each card. Our reviews follow strict editorial guidelines and are updated regularly.
Online Savings Account: Performance Savings | Capital One
If you open four different CDs, that will allow you some extra income after, say, six months, 12 months, 30 months and 60 months. Interest accrues daily and compounds monthly on Capital One CDs. You can receive the earned interest on a monthly or yearly basis.
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The table below shows what your final balances could be according to various deposits and term lengths. Please change your search criteria and try again.
Searching for accounts Ad Disclosure Unfortunately, we are currently unable to find savings account that fit your criteria. Ad Disclosure. Capital One offers some of the highest CD rates in the industry.
As you can see in the accompanying table, its rates compete with other high-performing banks, like Ally and Marcus by Goldman Sachs. Whether Capital One has a higher rate than a competitor will depend on the term length. For example, Capital One offers a higher rate on its three-year terms, but the same or lower rates on other terms. Plus, Ally Bank offers rates according to balance tiers so you can often snag even higher rates with higher balances.
Opening a Capital One CD gives you the flexibility to save toward both short-term and long-term goals with its various term lengths. Whether you need a few extra dollars in six months or a hundred more in a few years, a CD can do that for you.
By not requiring a minimum deposit, Capital One allows you to open a CD with whatever savings you have available. Another important aspect of CDs is that you cannot easily make withdrawals at any time.