Capital One is one of the largest banks in the U.S. It's one of the most technologically focused banks in the banking space. Capital One specializes in several distinct aspects of banking including normal banking and savings accounts, credit cards, and auto loans.
Aside from being the second-largest auto loan provider in the country, how does Capital One stand out from the competition? What other services does Capital One offer? Do those offerings make Capital One a good bank?
What does Capital One offer?
Capital One offers everything that a normal bank offers. At the most basic level, the bank is a safe and proven place to keep and grow your money. Capital One offers lines of credit, credit cards, and car loans. These are all of the things that you want in a bank, but the additional facets included in the offerings make Capital One stand out among the competition.
Capital One checking or savings account
Capital One offers checking and savings accounts as a way to protect your money. Both accounts can be accessed through online banking tools or at the bank's brick-and-mortar locations. Customers who have both accounts can automatically move money from their checking account to their savings each month without a gap in monthly account balances. The savings accounts usually pay back interest. Making free money on accounts you already use daily is never a bad thing.
Capital One credit cards
Capital One credit cards offer a number of variable interest rates, APRs, and credit limits depending on the type of card. Even if you have bad credit or poor credit, Capital One usually offers reasonable options to help build your credit score. As with any credit cards, it’s important to understand all of the details before signing up. Even if the APR is manageable on most Capital One cards, some cards have annual fees.
Capital One car loans
Capital One offers no-risk pre-qualification on car loans. Considering that Capital One is among the top two auto loan companies in the country, you will get the best deal on financing for your next vehicle. According to the bank, Capital One customers save an average of $50 per month when the refinance their car loans. The bank is a fairly ironclad bet for auto financing.
Is Capital One a good choice for a bank?
It would be fair to say that Capital One is an objectively good choice for a bank. However, it's difficult to quantify what a good choice is with so many subjective factors in play. Everyone’s banking needs are different. Some people are wealthy, others are just getting by, and Capital One offers options for both. Even you find yourself falling between those goalposts, Capital One will likely meet your basic banking needs and exceed some of your expectations.
How big is Capital One?
Capital One has 755 branches and 2,000 ATMs worldwide. The bank conducts business in the U.S., Canada, and the U.K. Capital One employs around 48,800 people. Also, 30 of the branches are cafe style banking locations, which have become increasingly trendy in recent years. Most of the branches haven’t seen as much traffic due to lockdowns amid the COVID-19 pandemic.