Capital One

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A Fortune 500 company, Capital One is a bank with most of its branches in the District of Columbia, Texas, Louisiana, Maryland, New York, New Jersey and Virginia. Since 1988, Capital One offers financial products to its customers to meet their personal, small business and commercial needs. The Virginia-based bank’s services include credit cards, home loans and savings accounts. Capital One has made a commitment to enhance the well-being of individuals and families in their local communities. Its consistent growth may be attributed to the fact that it has had the same CEO at its helm, Richard Fairbank, an American businessman who founded Capital One.  

The Good

  • Locations
  • Great services
  • Loan options

Locations

Capital One Bank has 1,000 locations, more than 12,500 ATMs, online (wellsfargo.com), and mobile devices. Wells Fargo is across the nation and consumers can go online to find the nearest location or ATM in seconds. If there are other questions one can contact customer service anytime, 7 days a week.

As one of the nation's top 10 largest banks based on deposits, Capital One's total assets are $298.3 billion. Founded in 1988 they have provided services for 27 years to meet customer needs with:

  • banking for checking, saving, CDs, kids savings
  • loans for mortgages, home equity, automobiles
  • investments is used through ShareBuilder which is an online brokerage built for user-friendly investing. type of investments include:
    • 1) Individual, 2) Joint, 3) Custodial, 4) Traditional IRA, 5) Roth IRA, and 6) Education savings account
  • consumer and commercial finance services

They are a eastern U.S. bank with 1,000 branches.

Great Services

Capital One has a spread of services to meet financial needs such as:

  • Personal checking accounts
  • Business checking
  • Savings accounts
  • CDs
  • Debit cards
  • Credit cards

This company also offers a savings and checking account with:

  • no fees or service charges
  • There is no minimum balance required to open a 360 savings
  • The interest on account is accrued daily, compounded monthly and credited to your available balance at the end of each month
  • For a checking account, everything is done online and requires no paper
  • The overdraft fee for checking is $0.03 daily
  • have a way to pay without writing a check or consumer may order a checkbook free the first time then 50 checks for $5

Loan Options

Customers in search of needed funds will also have access to student loans and auto loans. Through Capital One, customers will also have access to online banking, both types of IRAs and protection from fraud and identity theft. For parents planning for the higher education of their children, Capital One has a college savings plans for families to choose from:

  • 529 plans
  • Coverdell Education Savings Accounts

Community Investment

If potential customers are worried about Capital One's ability to grow and invest in the community, the numbers say otherwise. Here are the different areas that have been affected by Capital One's community investment commitment and their values:

  • Home mortgages and home equity lending, $28.5 billion
  • Small business and small farm lending, $22.5 billion
  • Affordable housing development and commercial revitalization, $25 billion
  • Consumer lending, $104 billion
  • Grants to support critical community services, $450 million

The Bad

  • Online bank
  • Higher risks

Online Bank

Capital One is mostly on online bank. For those that like to physically go to an office there are only 1,000 branches in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. This bank is great for residents in those states however for the other 43 states there is no accessibility to branches or ATM's.

Higher Risk

There is a greater risk with using the world wide web to make all banking transactions but this company has had a couple reviews for contacting consumers immediately if fraud is suspected. But there are not as many locations where you can talk to a capital one representative in person. The only way to get human interaction would be through mobile or computer devices with Skype or FaceTime.

The Bottom Line

Capital one is located on the eastern side of the U.S. and have 1,000 branches available. They offer banking for personal, small businesses, and commercial industries. Their focus on creating online banking allows them to decrease fees for checking and saving accounts and eliminating paper for the most part. Great to use if savvy with mobile devices and computers and don't need interaction with capital one employee's.

Customers who choose Capital One will have the confidence that they have chosen the financial services of a Fortune 500 company. The Virginia-based company has a wide range of services including personal checking accounts, savings accounts, credit cards and debit cards.

Our recommendation: Although it's a relatively new bank, Capital One deserves your consideration when picking a financial organization to bank with.

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  • User Score

    10

    January 23rd, 2017 Houston, TX

    Capital One is the best bank in the USA. The following is just a few of the things Capital One does that sets them apart from other banks in the USA: 1. You can withdraw money from their ATM's in $10 increments. 2. I'm not perfect and I have been late many times with my credit card payment and they have reversed the late fee EVERY SINGLE TIME over a 3 year period. Of course, this is just my experience and it may be different for others, but in comparison to some banks, like Barclays, for example, who ALWAYS refuses to reverse any late no matter what , Capital One actually cares about their customers. 3. Capital One credit card customer service is 24/7 live chat and is always accessible. What's in your wallet?

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