Both banks are good, but Capital One has benefits like better rates on savings balance, zero service fees, and minimum deposits. In contrast, Chase has benefits like sign-up bonuses, access to a physical location, no minimum deposits, loans, and credit card options. Capital One and Chase offer access to various rewards; your preference depends on the most suitable for your needs.
Capital One vs Chase: Products and Services
Asides from operating CDs, Checking and savings, other services are available.
Chase Banking Products and services
Auto loanBusiness bankingCredit cardsDebit cardsMortgagesPlanning and InvestmentsSport and Entertainment
Capital One Products and Services
Business loansCertificate of DepositConsumer and Corporate bankingCredit unionsInvesting capabilitiesMoney market account
Capital one vs chase: credit cards option
Aside from the zero-fraud liability policy that both banks provide, you can gain access to different rewards with their credit cards. Capital one’s credit card suits users with average or low credit scores. However, Chase favors users having higher credit scores with more rewards.
To emphasize their differences more, Capital One and Chase have co-branded cards for different reward programs. Capital One focuses more on retailers, for example, Walmart, Saks Fifth Avenue, and Kohl’s, while Chase focuses on reward programs for frequent flyers and hotel loyalty.
Capital one vs chase: checking Accounts
Both Banks offer Checking Accounts, however, on different terms and conditions. Capital One operates a checking account without an account management fee, and you must earn interest on your balance. Other benefits of Capital One checking accounts include;
APY of 0. 10% No minimum depositZella integrationCheck deposit on the go using your mobile appZero-fee ATMsChecking GuideMobile deposit
On the other hand, Chase does not give interest on savings, and you must pay a fee of $12 monthly. Although, the fee is waivable if you can meet certain conditions like having an electronic deposit of $500 monthly.
Those asides, Chase does have its perks; some of them include options for quick deposit, a signup bonus and paperless statements (up to 7 years validity). Other perks include;
Zelle payOnline bill paymentSign up bonusesA large number of ATM
Capital one vs chase: savings Account
Capital One and Chase offer a savings account; what differentiates them are terms, conditions, pros, and cons. Capital One offers a good APY without depositing a minimum amount. In addition, you don’t have to pay any fee for maintenance and monthly balance requirements.
To top it all, you have access to mobile banking, checking and savings account linking, mobile deposit checks, zero excess withdrawal fee, option to open up to 25 individual savings accounts, among other things. Their savings accounts are ideal if you are saving for a long time.
While Chase offers two options for a savings account, you must pay monthly charges. You can waive it if you meet certain conditions. Both savings options do not need a minimum deposit. In addition, the bank gives a sign-up bonus, overdraft protection, and physical location accessibility.
Conclusion
Both Capital One and Chase are widely known and have many users nationwide. According to the comparison above, you will notice both banks have their ups and downs. Capital One is mostly suitable for people who want a higher interest rate on their savings accounts. At the same time, Chase is preferable if you would prefer access to a physical bank location, sign-up bonuses, a large ATM network, and an account linking option. Your needs and choice will determine the most suitable option between the two banks.
Which is bigger, Chase or Capital One?
With over 4,700 branches and more than 16,000 ATMs and loan options, Chase is bigger than Capital One.
Is Chase a good option as a bank?
Although, it has a low-interest rate for a savings account and monthly charges. However, they have a good checking account.
Which bank is most trustworthy?
Many banks in the United States are known to be trustworthy; however, Chase is at the top of the list.
Is Capital One advisable for Kids?
The bank has a kid’s savings account with no fees or minimum deposit requirements. It comes with a free debit card, and you can link the account to yours to help them manage how much they spend.
What are the disadvantages of choosing Chase?
Some cons of choosing Chase have reduced interest rates and different banking charges, and their availability is limited.
