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CapitalOne Requesting Bank Statement & SS card

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whoknows1
Valued Member

CapitalOne Requesting Bank Statement & SS card

Been with CapitalOne for about 3 years, have 2 cards with them, Venture and recently approved Saks World Elite. Everything was approved, but 2 weeks later got a letter saying CapitalOne wants to verify my identity to prevent me being victim of fraud (I'm guessing due to the application of Saks, I had to fly out to another town and apply in person for this version of the card). Was approved for 10k on the spot.

 

Now 2 weeks later, got letter from Capital One saying they need my drivers license, social security card, proof of residence, utility, and bank statements. Called them and they are insisting this is to "prevent me from being victim of fraud" - but I feel this is an income verification. I don't even have a SS card (lost it many years ago). And this bank statement part makes me feel unease, I'm self employed, my income isn't always the same month to month (they want last 3 months), so it wouldn't be accurate, and a good chunk of my income is capital gains that doesn't get reported until end of the year. I've never had this kind of request before, anyone with experience with this? Just feels uncomfortable having all my info out there... under false pretense of "protecting me."

 

 

Message 1 of 14
13 REPLIES 13
CreditCuriosity
Moderator Emeritus

Re: CapitalOne Requesting Bank Statement & SS card

likely income verification in many ways..  You have two options either send it or get card/cards closed.  You can get a new SS card pretty easily at the SS office in your town so no real excuse with that one and well income if they want you will have to provide them with bank statements.  Likely was Saks application and possibly them using 3rd party data sources that they might of seen a difference in what was stated.  Can offer tax returns as well, but doubt you would want to do that either.  Send it even if uneasy being bank statements as if you don't you will get closure of at least one, but likely both cards if not provided.  Nothing really to lose by providing it as they might close it regardless depending and if you don't send it they will close and if income isn't that far off you might be able to keep cards.

Message 2 of 14
whoknows1
Valued Member

Re: CapitalOne Requesting Bank Statement & SS card

It's just so strange - I've always paid my cards on time in full. I use it like charge cards. I've never had any other banks doing this. And my credit score is 795's. No debt other than a student loan. SS is hard because I don't have a copy and nearest SSA is two hour drive away... It's just so invasive, I'm literally giving out all my info for a identity fraud.

Message 3 of 14
Bill77
Regular Contributor

Re: CapitalOne Requesting Bank Statement & SS card


I would take my business elsewhere but I recognize that might not be the right move for others.  Situations like this is also the reason I'm starting to build a setup with redundancies and overlap among several card companies.

 

 

Message 4 of 14
Jnbmom
Credit Mentor

Re: CapitalOne Requesting Bank Statement & SS card


@whoknows1 wrote:

It's just so strange - I've always paid my cards on time in full. I use it like charge cards. I've never had any other banks doing this. And my credit score is 795's. No debt other than a student loan. SS is hard because I don't have a copy and nearest SSA is two hour drive away... It's just so invasive, I'm literally giving out all my info for a identity fraud.


You can create an account at social security website and order a card no need to go there .

 

It would be a hard pass for me to provide all that information especially to capital one, but that's just my opinion. Others may comply 

EXP 780 EQ 798 TU 804
Message 5 of 14
Rekyrts
Valued Member

Re: CapitalOne Requesting Bank Statement & SS card

Agreed. I'd take my business elsewhere, but also note that doesn't work for everyone.

 

Just seems excessive IMHO.


@Bill77 wrote:


I would take my business elsewhere but I recognize that might not be the right move for others.  Situations like this is also the reason I'm starting to build a setup with redundancies and overlap among several card companies.

 

 


 

 

Message 6 of 14
Shooting-For-800
Senior Contributor

Re: CapitalOne Requesting Bank Statement & SS card

You need a SS card regardless.

You can't even get a job without one.

Their card, their rules.

It is up to you whether you want to follow them or not.

GL!

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 7 of 14
EAT_SLEEP_JEEP
Valued Contributor

Re: CapitalOne Requesting Bank Statement & SS card

Comes down to how you value your relationship with Cap 1. Me personally I don't value cap 1 enough to do all that. Amex would be a different story, but that's just for me.

KEEPER EVERYDAY CARDS/ AMEX CHARLES SCHWAB PLATINUM NPSL/ AMEX GOLD NPSL / AMEX GREEN NPSL/ AMEX EVERYDAY PREFERRED $30,000 CL/ AMEX BLUE BUSINESS PLUS $5000 SL/ AMEX BLUE CASH EVERYDAY $18,000 / FIDELITY REWARDS VISA $23,500 SL/ NFCU FLAGSHIP $40,000 CL/ NFCU MORE REWARDS $40,000/ WELLS FARGO AUTOGRAPH $8200/ CITI COSTCO ANYWHERE VISA $6000 SL/ DISCOVER IT $3000 SL/ FNBO JEEP DRIVE PLUS CARD $7700/ APPLE CARD $6500/ CAPITAL ONE SAVORONE $3000 SL

SOCK DRAWERED / PAYPAL CREDIT LINE $1700




Message 8 of 14
FireMedic1
Community Leader
Mega Contributor

Re: CapitalOne Requesting Bank Statement & SS card


@whoknows1 wrote:

Been with CapitalOne for about 3 years, have 2 cards with them, Venture and recently approved Saks World Elite. Everything was approved, but 2 weeks later got a letter saying CapitalOne wants to verify my identity to prevent me being victim of fraud (I'm guessing due to the application of Saks, I had to fly out to another town and apply in person for this version of the card). Was approved for 10k on the spot.

 

Now 2 weeks later, got letter from Capital One saying they need my drivers license, social security card, proof of residence, utility, and bank statements. Called them and they are insisting this is to "prevent me from being victim of fraud" - but I feel this is an income verification. I don't even have a SS card (lost it many years ago). And this bank statement part makes me feel unease, I'm self employed, my income isn't always the same month to month (they want last 3 months), so it wouldn't be accurate, and a good chunk of my income is capital gains that doesn't get reported until end of the year. I've never had this kind of request before, anyone with experience with this? Just feels uncomfortable having all my info out there... under false pretense of "protecting me."

 

 


Just curious. You didnt actually fly. You mean you drove quickly to another town? Other questions they had like self employed.


Message 9 of 14
whoknows1
Valued Member

Re: CapitalOne Requesting Bank Statement & SS card

No, I flew. There's no Saks store around here. I've never had an issue with Self Employement. Only thing I can think of is maybe my income. Though not much, it's a bit shy of 400k.
Message 10 of 14
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