Capital One is the U.S. bank and one of Fortune 500 companies, employing some 49,000 people. It specializes in providing a vast array of financial services to a variety of markets, including consumers, small and medium businesses and commercial clients. As well as servicing customers in the U.S., Capital One is also offering its financial solutions abroad, particularly in the UK and Canada. The bank’s President, Chairman and CEO is Richard Fairbank.
Capital One’s HQ is located in McLean, Virginia; its regional branches also service clients in the District of Columbia, New York, Texas, New Jersey, Maryland and Louisiana. Founded in 1994, Capital One first functioned as a monoline bank, only offering credit cards. It then expanded its operations to embrace auto loans and retail banking. It is now the second biggest U.S. auto loan company, holding 5% of the market and following Ally Financial.
Capital One is servicing some 45 million accounts. As a public company, it trades on the New York Stock Exchange and is also featured in Standard & Poor’s 100 index.
Overview of Capital One financial products
As one of the U.S. top banks in terms of deposits, Capital One features a versatile product portfolio.
Capital One is the third biggest issuer of credit cards, following JP Morgan Chase and Citigroup. In fact, it was one of the masterminds behind mass marketing of credit cards back in the 1990s. Today, revenue from selling credit cards accounts for a lion’s share of the bank’s total revenues, making as much as 75%.
Capital One customers with excellent credit level can benefit from various credit cards this bank offers, for example:
- Venture® Travel Rewards;Quicksilver® Cash Rewards;Savor® Rewards;Spark® Cash for Business, etc.
All in all, there six categories of credit cards: average and building credit, cash back rewards, travel rewards, popular cards, low intro rate and business rewards. Anyone wishing to apply for one of Capital One’s credit cards can check if they are pre-qualified for the bank’s card offers.
2. Checking and savings
Customers who wish to save more efficiently can explore as much as six saving products at Capital One:
- 360 Money Market®;360 Savings®;360 CDs®;360 IRA Savings®;360 IRA CDs®;Kids Savings Account.
Capital One’s checking accounts include 360 Checking® and Money Teen Checking. Depending on the account balance, its customers can earn an annual percentage yield ranging from 0.20% to 1.00%.
3. Auto loans
Yet another financial product at Capital One, auto loans include handy options for anyone wishing to buy a car. These include:
- find & finance a car with Auto Navigator℠;enter a pre-approval code;refinance a loan.
Auto loan refinancing is probably the most popular service, allowing customers to save about $50 per month, according to Capital One data. Applying for auto loan refinancing basically takes three steps:
- pre-qualify (no impact on the existing credit score);provide details and pick a specific offer;provide any additional lender-related documents and finalize the application.
Capital One’s product offering for businesses is quite impressive, featuring both business credit cards and business banking services.
Its business credit cards include:
- Spark® business credit cards;Spark® cash back rewards;Spark® mile rewards;corporate cards.
At the same time, Capital One’s business banking portfolio features the following services:
- savings accounts;checking accounts;Spark® 401k;merchant services;Escrow Express;lending;commercial business services.
Capital One’s financial products are currently used across a variety of industries, accounting for a significant share in the bank’s service portfolio. The most prominent ones include commercial real estate, energy, healthcare, financial institutions, commercial and industrial, technology, media and telecom.
Capital One’s commercial banking solutions include:
- capital markets;commercial lending;corporate card;depository services;treasury management.
Get My Offer campaign
Get My Offer is an advertising campaign used by Capital One to engage with new customers. Those who enjoy a good credit score and are pre-approved get customized offers of Capital One banking products they could benefit from. How does this work?
The customer will receive an email with a unique reservation number and application code. To be eligible for participation, one must not only have a great credit level, but also be a legal U.S. resident at least eighteen years of age. The next step would be going to getmyoffer.capitalone.com and submitting the application using the reservation number and application code you received by email.
Once the application is approved, you must choose the credit card you will activate. Typically, your options will include the following:
- Quicksilver® Cash Rewards. The cash back program helps the card holders to earn 1.5% on every purchase they make. As a signup bonus, they also get $150 once they spent $500 in the first three months;Venture® Travel Rewards. A perfect choice for people who often travel long distances. Rewards include 2x miles per dollar on any purchase as well as 10x miles on a huge variety of hotels. A signup bonus features 50,000 miles once $3,000 is spent in the first three months; Spark® Cash for Business. Great for businesspeople, this card earns 2% cash back on every purchase which could mean hundreds of dollars for the company. A $500 signup bonus is paid once $4,500 is spent within the first three months; Savor® Rewards. This credit card rewards its holders with 4% cash backs on dining, 2% on grocery purchases and 1% on anything else. A signup bonus makes $500 on $3,000 spent within the first three months.
Provided that you have an excellent credit rating, Capital One offers a wide range of flexible rewards customized to your financial needs and spending habits.