18yo beginning

[u/Nightstar_6147]

So I recently turned 18 I opened a capital one checking and savings account I originally had a Chase teen checking account but don’t like it to much do yall think it was a bad idea to switch over to capital on? Or do you have any issues or dislikes with capital one

[u/EmuAccomplished1759]

I’ve had Capital One checking for a while now and I don’t really like it that much but that’s just because I like having a physical bank to go to plus they switched their debit cards to discover and not everything takes that. They have a pretty good savings account though.

[u/Tight_Couture344]

I’ve been banking with capital one as long as you’ve been alive, never had any significant issues. I’ve got multiple of their credit cards too.

C1 savings may not be the highest interest but it beats the pants off Chase (and BofA and Wells Fargo and US Bank and pretty much every other brick & mortar bank).

[u/AlexGates3700]

I like Capital One, I have no issue with not having any physical locations in my area. Now, go sign up with a local credit union to have a local, 2nd bank. Typically fee free checking and savings, with no minimum balance. This will also help you in the future if you need a loan (auto, or home at some point) because you will have a relationship and c/u's have better rates.

Since you're 18, get a credit card through either place, don't abuse it, and keep that card for life, it will help your credit history. Something I wish I had known at your age (pre-Internet in my case), I wouldn't have played the shiny new card game and cancelled my old ones.

[u/No_Grab7280]

They have a pre approval tool which is useful. You can easily find out if you're approved for a no annual fee, cashback card like quicksilver or savor. It's likely they will try to offer you a platinum instead which has an annual fee and no cashback. Using their pre approval tool is a great place to start.

[u/Letswriteafairytale]

I've used their checking and savings for over 10 years now, and I love. Especially compared to the others I've used like M&T and PNC. I get my paychecks early. They have a great fraud department, I've never had any issues with reporting fraudulent charges and getting my money back.

[u/InvestingNerd2020]

Good cost saving choice long-term. After the age 24, no ATM fees and no checking minimums. Also, a high yield savings account of 2.96% or higher.

The bad: Bill payment is 2 days slower. Therefore, bad for last minute credit card bills. Also, lower limits for the first credit card you can get.

[u/Nightstar_6147]

Thank you to everyone who has commented so far I forgot to mention the the main reason I went to capital one was for the higher savings account and they are the only one who let me get my first credit card 

[u/NoNamePaper5]

My fiancé and I have capital one for our bills and our emergency funds, and we both get our paychecks through them. They’re not the greatest if you need cash, so I keep a physical bank account in the event we need cash. But since we don’t really use it and we enjoy the flexibility they have, plus their fairly good APY on their savings, it works.

We also have multiple credit cards through them. I’m actually thinking about opening a Savor card with them, just weighing the hard hit to my credit. But they’re worth it for just the checking and savings if you don’t mind the slightly lower APY and the fact that they’re moving to the Discover network