Capital one PSA

[wanderingback]

I think many of us have separate categories in capital one which means separate accounts. With the talk about interest rates, I looked at my accounts and they were only at .3% APY! But the last category/account I checked is at the 3.4% APY. So I transferred all the money to that category. Did everyone else know they did this?

[mccallister84]

Yea I find it annoying. I feel like they create new accounts out of nowhere so that people don’t realize they are missing out on high interest. I watched my money market account interest rate drop lower and lower and then after someone else posted on this board I learned that now the performance savings (I believe that’s what it’s called) is their new high interest one.

I’m sure in a year or two there will be another one that I’ll need to transfer to to get the highest interest.

[sparty04]

Yes! I just created all new accounts last week (I have several because I earmark them for different savings goals). I didn't realize this was going on until I started researching the CD deal they have going on (5% for 11 months)

[lindyanne]

Someone may lose posted about this a few months ago. Thankfully they’re super easy to open and close accounts with but also super annoying.

[jlt19]

Luckily you haven’t lost out on much, only a few months. I switched over from MM to performance savings a few years ago but the rates had been so low since 2020, it didn’t make much of a difference. It is annoying though. I think this is the 3rd type of “savings” I’ve opened with them just because of the different rates/types.

[Poppy]

Thank you for posting, I just checked ours and realized we weren't at the highest rate.