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Capital One Introduces MMA At 4.66% Plus Monthly Miles – Switching?

Now this is getting interesting…I just got an email from Capital One about their money market account which not only gives you 4.66% (higher than ING) but also gives you a reward for keeping money in the account – to the tune of 1 mile for every $20 of your average balance for the month. These reward miles can be redeemed for cash, travel, merchandise…and you get a 2,500 mile bonus when you sign up. So if I am doing my math right, an account with $10,000 will earn 500 miles every month? Not bad at all. I might have to think about switching now!

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