I've had a Capital One credit card for 8 years and have always been happy with their customer service (had my card number hacked twice and it was taken care of very quickly both times). I am thinking of opening a 360 Savings account to help grow my emergency fund since they have .75% APY. I know this is less than some other online banks out there, but if the APY is constantly changing, might it not also increase to 1.0% like some of the other banks? I also like the idea of having sub-accounts for savings goals, which the 360 savings account offers.
Also, right now Capital One has a promotion going where I can get $400 if I open a 360 CHECKING account. However, I noticed that the checking account only has .2% APY. Why the difference from savings to checking accounts? I doubt they'd give me the $400 to put into the .75% savings account, but would opening the checking account be worth the free money (and extra .1% interest that I don't get in my current credit union checking account)? Should I open both accounts? Do all of the online banks change their rates from year to year? Why can some offer higher rates than others?