Capital One interest rates

[nittanycheme]

Does anyone else have savings accounts at Capital one?  I have a few (since you can open multiple accounts and give them nicknames), and i recently noticed that my existing accounts were are at a really low interest rate while new ones were at a much higher interest rate (~0.5% vs. ~3.5%).  So, now I'm closing the old accounts and creating new ones.  I also noticed that they only have checking and savings now, where they used to also have a money market account as well.  My money market has a rate of like 0.8%, so that's going to get closed and transferred to a new account too.  I never even thought I wouldn't be getting new interest rates on my older accounts.  Seems silly to have open new ones.

[movingforward]

I closed out my Capital One a couple of months ago, and moved to Discover, when I noticed the interest rate on my savings was extremely low.

[mollyanna58]

I have two accounts that started as ING and then became Capital One.  ING had abover average rates when I opened the savings account. The savings account is now 0.3%.  The checking account was only opened because ING would occasionally give a $10.00 bonus for making a certain number of debit transactions. I have an account opened with Captial One that was labeled a high yield checking account but the yield has dwindled down to 0.1% and stuck there for years. I opened a high performance savings account a couple of months ago which pays 3.5%. I should close the original accounts but haven't bothered.

[steph08]

I discovered the high performance savings accounts late last year and transferred all my accounts to them to take advantage to the high interest rate. 

[nittanycheme]

Apparently I should have been paying more attention!  At least its pretty easy to create a new account and close an old one.  Still annoying though - trying to use my deposited money for cheap!

[Cookies Galore]

Yeah, I noticed last year that my Capital One account wasn't seeing any interest rate increases so I opened a performance savings account and moved the money from my existing account. The Cap One account is our catch-all savings for house maintenance, vacations, and general oopsie doodles.