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5.5

Overall Score

LAST UPDATED: February 9th, 2024

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.  

Top Ranked Companies

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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
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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.
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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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Star Rating

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4.5

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75 Reviews

Review Breakdown

5 grade

61%

4 grade

17%

3 grade

9%

2 grade

7%

1 grade

5%

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Meekie Seattle, WA

I opened an account and out of the blue one day my debit card didn’t work. I didn’t find out about it until I was in line at the grocery store. I gave them a call and they said that my expiration date was different in the system. Mind you, I had used this card numerous times and it the expiration date in the system just changes without any notification. They overnighted a new card. I have other products with Capital One and they are great but this experience was pretty strange.

2 years ago

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everett williams

Service is good but actually, the services changed when it changed from Chevy Chase Bank was bought by Capital One. You used to get your balance whenever you made a deposit or withdrawal but now you have to ask. Just one of the things that I don't like.

5 years ago

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Anita pea Dallas, TX

Capital one was and awesome banking company until some stuff happened with my account and I had to leave. The customer service was good and would try to help but never really helped stuff.

4 years ago

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Kmzokie Tulsa, OK

I personally wouldn’t recommend this card because of the fees and the interest rate. But if you need to rebuild your credit then they are good for that.

1 year ago

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C. McDaniel Atlanta, GA

They're ok, not wild about credit card companies, but opened a savings account just for myself, and it's ok

1 year ago

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Cole Bailey Houston, TX

Bank has nice features on their mobile app, friendly customer support enjoyed spending time at the bank.

4 years ago

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Jack Dean Norcross, GA

Not many local branches to get help with transactions. ATM fee was higher than others

4 years ago