Pros
I've been at Capital One for over 3 years now and have enjoyed working here. It's a pretty good place with smart people, great work life balance, good compensation, great benefits and flexibility in work location.
Cons
One of the best things about capital one has always been the bottom up innovation in the strategy setting and product development. However, the recent spate of acquisitions has added a lot of beaurocracy and moat of the work being done is driven by senior management with the ground level employees simply finding ways to do what they are asked to do. Also, the performance appraisal process needs more transparency. The way it works today, its a popularity contest. If people above you like you, you get to be on the high profile projects and get promoted as a result of that. The others just get stuck in a viscious cycle of getting the same vague feedback again and again.