Originally Posted by adamj023

You said it happened yet provide no further details so I and others can presume it didn't happen unless you provide further detail.

As far as Capital One being new to New York City, this again is a misnomer. The bank has been in New York City for years under the name of "North Fork Bank and Superior Savings of New England". Capital One acquired them in 2008 and as such the brand is not as familiar as that of North Fork and Superior Savings.

Total branch density for Chase is higher in NYC, but it depends on the locations one uses their bank. Capital One has much higher interest rates and better offerings now. Why? Free checking and higher interest rates with next day transfer capability and linkage with their Venture Card with rewards on the card and my checking.

HSBC has more automation and a 1.10% APY on Savings and more branches here in town and sometimes has sweet promotional offerings on certain accounts at times.

Both banks get my deposits and I have CC's with both as well but the HSBC offering as of today is subtier for CC unless I had an HSBC Premier relationship.

Would it be nice if Capital One expanded their branch footprint further in NYC Metro? Could use a few more branches in key areas but having branches too close to each other serves no purpose and only provides a detriment to the company by having too much overlap and unneeded resources. With Chase I walk by and find multiple Chase branches way too close together. Not only is such not needed, it is costing customers in terms of perks offered and in terms of the rate of savings offered in the long term.

Chase has amongst the lowest rate in the industry right now on deposit products.

In this current economy, subprime lending has dried up and banks are concentrating on super prime customers and are vying hard for those dollars.

The people I know who use Capital One branches include highly educated individuals and are not low end customers by any means. So yes this is a "mis" perception. The collegiate commercial that Capital One had was a decent marketting commercial but those other commercials which represent the vast majority are really annoying with those viking men or other humans portrayed as acting stupid.

I won't use a bank which appeals to a lower end crowd. But lower end generally implies check cashing. To me lower end would imply lower rates and I would consider Chase to be a lower end bank.

Most banks fight for high quality customers equally, just that each bank has differing rate tiers and service levels.

Anyone offering Visa Signature or World MasterCard tiers are not banks which are looking for the lower end of the spectrum.

Most banks do in fact draw from botton to top but HSBC's tier doesn't include a Visa Signature or Mastercard World on its CC division except perhaps on its HSBC Premier line I presume.

And also the subprime are less profitable so banks want to focus on the higher end customers especially as subprime lending has dried up.

If you want to take "Upscale" in New York Metro, Wachovia would have to be the more upscale because of its branch locations in wealthier markets which wound up merging with Wells Fago. However Capital One does have branches in some wealthier areas as well.

It will be interesting to see how Capital One did with its deposit marketshare for NYC Metro. Figures should be out soon.

Upscale really has to be defined and parsed into what you actually mean.

But Capital One does have a very significant amount of deposits in the New York Metro area and is a top 10 player in the region.