Apparently Capital One REALLY wants my money (and yours too, well so do all the banks and creditors right?). I was just checking my email and saw this “wonderful” offer Capital One is promoting for it’s “high yeild” bank account. It claims that if I start out now and deposit $10,000 and continue to save $250 per month over the course of 5 years I’ll have $26,070 assuming that I don’t make any withdraws. See below…there’s even a pretty graph!
If I save $250 per month for 5 years on my OWN that’s $15,000. Add my original $10,000 and I’m at $25,000.
So basically Capital One, you’re saying in a perfect world (of a sad 1.2% interest rate) I’ll earn $1,070 in interest over the course of 5 years? Hmmmm no thanks. I can think of better ways to invest my money.
What do you think?
Don’t even get me started on the headline of “Trust. Worthy. Banking. Results.” Why not put that all in one sentence instead of four? Oh right, because you’re a bank and you’re full of crap. Ok, I’m done now. Thanks for reading 🙂