I went through all of the interview stages, and was ultimately not selected for the program. They had a decent process, and here is an in-depth walk-through of my experience.
First Steps:
After applying online, I was contacted within 4 weeks asking for a phone interview. The Recruiter gave me a wide variety of times that spanned over the course of 3 days. Once I confirmed, I was set up with a "buddy" (who is currently in the program) to answer any job-specific questions I had. They offered an opportunity to join a virtual information session prior to the interview, which I HIGHLY recommend attending. There will be questions in the phone screen that can be easily answered after watching this, and that is all I will say.
Phone Screen:
This takes about 45 minutes, and is pretty conversational. There are some behavioral questions, but my interviewer took most of the time bragging about Capital One, the program itself, how they are really a "technology company," etc. Be sure you know your Resume from top-to-bottom, and practice the STAR method. Display confidence and match their exaggerated passion for the company and you'll do just fine.
Case Interview:
I found out I was selected for this within a week of my phone interview, and it is by far the most challenging part of the interview process. You are given very broad, generic material beforehand to help you prepare, and let me just say -- Practice is absolutely vital. Review case videos from McKinsey or Bain, and walk through them with friends. For myself and several other applicants of this program, they used a case on salary structure. The quantitative section can be solved with 8th grade level math, but they look for strong decision-making abilities as well.
Final-Round:
For the final round of interviews, they flew me out to McLean, VA (They pay for the flights, a boujee hotel, free Lyft rides, and $50 of food per day -- Don't worry). The day is structured into four parts: 2 behavioral, 1 "fit", and lunch. For the behavioral interviews, they only asked me 2 questions each, but probed with many follow-up questions. From someone who tends to be critical of poorly trained interviewers, this was very refreshing. It allows you to tell your story, and then explain all of the individual parts -- Don't BS them.
The "fit" interview felt a bit off, and I would argue was borderline discrimination. If you aren't an exact fit with their core values and vision, you will stick out like a sore thumb -- They are looking for culture FIT, not culture ADD. This is dangerous, as it made me feel like I needed to act a certain way to feel included. Out of the whole process, this was one very negative aspect that stuck with me.
Final Thoughts:
While I was not selected for the program (likely due to "fit), I will say that they had a very thorough process. If you fit exactly into Capital One's core values, this could be right for you -- Ask questions on ethnic inclusion, and tread carefully.