Capital One
Rewards program: Capital One Miles
A large card issuer and online-first bank. Completed its acquisition of Discover, bringing the Discover payment network under the same ownership.
Strengths
- Miles transfer to airline and hotel partners rather than being locked to a fixed cent value
- Deposit accounts are online-first with no monthly fees or minimums
Watch out for
- Historically pulls all three credit bureaus on application, which some applicants prefer to avoid
Judging their deposit rates
The FDIC national average for savings is 0.38% and 1.68% for a 12-month CD, as of July 20, 2026. Those averages are weighted across every insured institution, so a competitive online account usually pays several times them. Compare any rate Capital One quotes against that rather than against the word “high-yield”.
Source: FDIC national rates and rate caps.
Frequently asked questions
Is Capital One insured?
Deposits at Capital One are covered by FDIC insurance up to $250,000 per depositor, per insured bank, per ownership category. Verify current coverage with the institution before depositing above that amount.
What is Capital One best at?
Miles transfer to airline and hotel partners rather than being locked to a fixed cent value. Deposit accounts are online-first with no monthly fees or minimums.
What should I watch out for with Capital One?
Historically pulls all three credit bureaus on application, which some applicants prefer to avoid.
Other institutions
Researching and writing about Canadian personal finance since 2026.
Last reviewed August 2026 · How we research
“Capital One.” VaultNerd, https://www.vaultnerd.com/banks/capital-one, updated August 2026.
- Capital One published product and disclosure pages
- FDIC national rates and rate caps