Pros
The company benefits are competitive. The tech culture needs a lot of work: even though Rich Fairbank spends a great deal of effort in pitching his grand vision, the actual execution falls short in the hands of middle managers, who are way too consumed with their promotions and personal agendas. So while the grand vision CapOne tries to sell is enticing, be VERY CAREFUL with the group that you're joining--because what is a Pro at a high level may just be a mirage.
Cons
All the cons mentioned before this post are true: the year-end review process is painfully frustrating, the middle managers exercise a subtle (some times blatant) form of favoritism, the geographical/office politics amongst Virginia offices against non-Virginia offices is petty to a fault, and Human Resource department pretty much sides with management all the time (in many ways, reminds me of Uber's public relations debacle). Please be very skeptical when interviewing with Capital One and make sure to ask yourself if you're willing to play advanced office politics. Things are particularly bad in Commercial, which is far from Consumer Retail (the poster child of CapOne recruiting).