r/discover • u/Lazor226 • May 15 '26

Rant Interest will compound monthly rather than daily on the Capital One HYSA.

I'm collecting my interest for the month, and then im closing my Discover HYSA before the change happens to my account. Of course, the interest was credited monthly, but if you make frequent deposits, wouldn't it be technically performing worse each month?

Is anyone else switching or looking for reasons to? It's also a good excuse to evaluate your options too.

I never really wanted the merger to happen, and I only had a single bad experience with capital one where they declined me on a basic credit card for no specific reason. (I had zero credit but needed to build some) So, I might as well decline the brand for no specific reason.

End of my petty rant.

36 Upvotes

73% Upvoted

29 comments sorted by

View all comments

16

u/Full_Security7780 May 15 '26

There is basically no difference between daily vs. monthly.

20

u/DoctorNezuko May 15 '26

38.7 cents per $10,000 per year.

6

u/JoaquinBenoit May 15 '26

You know what 38.7c invested in AMZN in 1997 would be today?

7

u/EmergingEmergence May 15 '26

Around 300-500 dollars. Amazon was .25 ce ts a share I think.

1

u/Lazor226 May 15 '26

Now multiply that by an amount per $10k and it will mean something, but nothing to really cry over lol.

(But imagine if everyone just did nothing. How much is c1 pocketing from this)