Rewards Money Market Account Rewards Money Market Account

Capital One Rewards Money Market Account We offer higher earnings or interest rate than traditional savings accounts or money market accounts, plus great rewards, too!Compare Capital One Rewards Money market product with traditional savings accounts and money market accounts – Annual Percentage Yield (APY), Interest rate and miles earned Capital One - Rewards Money Market Account U.S. bank - Money Market Account Wachovia - High performance Money Market Account

Miles earned calculated as follows: 2,500 miles for opening a new money market account, plus one mile for each $20 average balance for the month (including compound interest earned each month) x 12 months. This assumes no withdrawals during the year. Competitor comparison information pulled from www.usbank.com and www.wachovia.com as of 08/30/2010 using New York money market account rates. Rates assume $10,000 account balance for one year. The above non-Capital One service marks are owned by each respective entity. All rights reserved.

A Rewards Money Market Account offers you a competitive 1.01% APY interest rate and No Hassle Miles on your monthly balance.*

Get rewarded for saving

  • 2,500 bonus miles with a $500 opening deposit*
    It takes only $1 to open a Rewards Money Market Account. Deposit $500 within the first month and get 2,500 bonus miles.*
  • Earn rewards—every month
    Accumulate miles and watch your money grow with our competitive rate. Earn 1 mile for every $20 of your average balance for the month, good for cash, travel, merchandise, and more.
  • Easy, hassle-free redemption
    Access rewards information and redeem online or over the phone. There's no waiting period—start redeeming as soon as you have enough miles to cash in. Looking for flexible redemption options? With a Rewards Money Market, you can redeem your miles for cash, air travel, merchandise—even charitable donations. Learn More

Earn great interest on your money

  • Competitive rates and superior access to your money
    Get a more competitive interest rate than a traditional savings account offers—as well as easy access to your money with free checks, an ATM card, and convenient online transfers.*
  • No monthly fees and no minimum balance
    There are no fees to open or maintain this account, and you are not required to maintain a minimum balance to earn the current rate.
  • FDIC insured to at least $250,000 per depositor
    You know your money is safe with us. The Federal Deposit Insurance Corporation (FDIC) provides insurance on deposits in Capital One Bank (USA), N.A. and Capital One, N.A., to at least $250,000 per depositor, per institution. See fdic.gov for more details.

    Individual and joint accounts are insured separately. For example: if you have both an individual account and a joint account with your spouse in each of our institutions, total deposits for you as a couple can be insured up to $1.5 million (up to $250,000 in each of the individual accounts, and up to an additional $250,000 per spouse in each of the joint accounts).

Learn about How It Works or read our FAQs

Open a High Yield Money Market account

See our Rates and Disclosures.
Or, open an account now.


Open an account by phone at 1-866-858-6593.

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  • 1.35%
    APY*
    With $1,000 or more
    • One of the best rates in the nation
    • 10% bonus on interest earned for qualifying accounts
    • No fees, no minimum balance
    • Open with as little as $1
    • FDIC insured
    Learn more about InterestPlus Online Savings Account

    View our rates and terms

    Open an Online Savings Account

  • 1.10%
    APY*
    • Great rate backed by FDIC insurance
    • No monthly fees, no minimum balance
    • Free online transfers, checks and ATM card*
    Learn more about High Yield Money Market

    Open a High Yield Money Market account

  • Rewards Money Market
    1.01%
    APY*
    • Great rate backed by FDIC insurance
    • 2,500 bonus miles*
    • Earn rewards for saving
    • No monthly fees, no minimum balance
    Open a Rewards Money Market account

  • 1.10%
    APY*
    • Free Online Checking that earns a great rate
    • No fees and no minimum balance
    • Access to more than a million ATMs worldwide
    • Free Online Bill Pay with SmartSwitchTM
    Learn more about Interest Online Checking

    Open a Interest Online Checking account

  • Miles
    • Free Checking that earns miles when you sign, swipe, or click
    • No fees and no minimum balance
    • Access to more than a million ATMs worldwide
    • Free Online Bill Pay with SmartSwitchTM
    Learn more about Rewards Online Checking

    Open a Rewards Online Checking account

  • 1.75%
    APY*
    5-year term    
    • Fixed rates backed by FDIC insurance
    • No monthly fees to open or maintain your account
    • Convenient online access
    Learn more about Certificates of Deposit

    View our rates and terms

    Open a Certificates of Deposit account

  • 1.05%
    APY*
    • Great rate backed by FDIC insurance
    • Easy access with checks*
    • No monthly fees, no minimum balance
    Learn more about Business Money Market

    Open a Business Money Market account

*   The above annual percentage yields (APYs) are effective as of 9/1/2010 and may change at any time.
Rewards Money Market Account Information and Earning Miles: 1.01% APY applies to account balances of $0.01-$99.99, $100-$4,999.99, $5,000-$9,999.99, $10,000-$24,999.99, $25,000-$49,999.99, $50,000-$99,999.99, and $100,000 or more. You will earn 1 mile for every $20 of average balance for each month your Rewards Money Market account is open. Rewards apply to average balance for the month only. Rewards will be calculated as specified above and then rounded to the nearest whole increment. Your account must be open and in good standing (not overdrawn) to redeem rewards. Miles will be applied to the rewards balance on a monthly basis within 60 days after the end of each month. Limit one open Rewards Money Market account per customer. Capital One has the right to change or cancel this rewards program at any time. Terms and conditions of this offer may change at any time. Minimum initial deposit amount is $1. Rates are variable and may change at any time. Withdrawal limits apply. Rate Disclosure
Rewards Account Opening Bonus: If you deposit $500 or more within 30 days of your rewards enrollment date, you will receive a one-time bonus of 2,500 miles for the first Rewards Money Market account you open. This bonus will be applied to your rewards balance within 60 days of the minimum qualifying deposit amount posting to the account.
Rewards Redemption: The number of miles required for travel redemption will depend on the cost of the itinerary you choose at the time of redemption. The mileage requirement is as follows: 15,000 miles are required for tickets up to $150.00; 35,000 miles are required for tickets from $150.01 up to $350.00; 60,000 miles are required for tickets from $350.01 up to $600.00. For tickets over $600.00 in value, the required number of miles will be determined by multiplying the cost of the ticket by 100 (ex. $768 ticket requires 76,800 miles). The number of miles required to redeem for non-air travel redemptions will vary by rewards product and are subject to change at any time without notice. Once enrolled, you can visit www.capitalone.com/nohasslerewards to register the account and to see a complete description of current redemption offers. You will be responsible for all associated taxes, airport security charges, fuel surcharges and other usage fees required for travel. These charges will be included in the overall calculation to determine the appropriate number of miles required for redemption. You can transfer your rewards between this account and other U.S. Miles or Points accounts. Please note: while you may receive rewards transfers from U.S. Cash accounts, you may not transfer rewards to them. The value of any miles redeemed for this money market product or transferred to another rewards account will be included in your year-to-date interest and year end tax reporting.