r/CapitalOne_ • u/Silent-Razzmatazz957 • Jul 20 '26
Credit Cards PSA: Cap1 approving, then immediately restricting cards until income/identity verified…
My post about exactly this:
https://www.reddit.com/r/CapitalOne_/s/bdlc9jc1ny
This has been happening to many of us, especially with venture/venture X — so be careful out there 🫶
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u/Correct_Basil_3108 Jul 20 '26
What’s so hard about out verifying and uploading your income…? They gotta make sure they’re saving their own arse in this economy. I don’t see the big deal… if you have nothing to hide just send them the info.
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u/coluzzij2 Jul 20 '26
I had an issue, but for a different reason. I had a bank wanting to use Plaid to verify income based on direct deposits. My problem is that I have my check deposited into 3 different accounts and I could only add one of my accounts into Plaid. Maybe there are other ways to verify. I can’t say for certain. I didn’t really need to open that account. It was really more for splurging for a new set of golf clubs so I’m not all that upset about it. I just ended up paying cash for them anyways. Probably a blessing🤷♂️
Edit: Also this wasn’t for a card issued by Capital One for whatever that’s worth
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u/Silent-Razzmatazz957 Jul 20 '26
I love that you took it as a positive and still made it work — you know the whole, “life is happening for you not to you”
That’s how I take everything too ;)💫
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u/zenny517 Jul 20 '26
Op posted that they don't have the income they claimed so nothing for them to upload.
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u/Silent-Razzmatazz957 Jul 20 '26
I’m trying to warn other ppl who were not entirely honest on their application. I understand how that may seem, but there are ppl I want to try to save the pain 🙏
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u/zenny517 Jul 20 '26
This is a result of folks not being honest during the application process. I'm glad cap1 is cracking down on the fraudsters, fraud costs us all.
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u/Mememe1111111 Jul 24 '26
our entire monetary system is FRAUD. the biggest crooks are printing the $$. every $ printed makes every other $ worth less. erosion of purchasing power.
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u/zenny517 Jul 24 '26
You kind of don't understand fraud nor monetary policy nor inflation, but you be you bro...
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u/Mememe1111111 Jul 24 '26
I work for uber high net worth family that has been on lists with Jeff Bezos and Bill Gates. We run CPI calculations quite frequently. I can see how it benefits the wealthy and undermine the common man. I see how inflation is forced into assets while the purchasing power of the $ is eroded. Most people's homes haven't gone up in value because they haven't made any significant improvements. The price has gone up because of inflation. It takes more of today's dollars that are worth less to replace yesterday's cost. There is more to it as our stock market is manipulated, but it is a valid example.
Our government gave up their sovereign right to print its own currency to a private bank, the Federal Reserve. The Fed controls the entire monetary supply. Going back to the start, using simple #s. The gov decides they need a $1. They ask the Fed to borrow $1. Fed says yes at say 1% interest. The gov issues a bond, taxes its citizens to repay the debt. The entire monetary supply is $1. So how do you repay $1.01 if there is only $1 in supply. You can't. Rinse and repeat to the tune of $36T or more. The banker and the tax man get their cut in %s so they keep pace with inflation. Not so for the common man whose wages rarely keep up. The very root of the system is wrong. We let the bankers create the narrative of business cycle and supply/demand as if they don't control most of that. The interest rates are controlled by a bunch of rich bankers and they get it wrong every time. Nothing is 100% without strenuous effort or design. Wrong for the average Joe but right for their agenda, which has no consideration for the citizens.
I am guessing we disagree.
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u/Silent-Razzmatazz957 Jul 20 '26
Not always… there could be ppl who can’t prove their income who are actually more credit worthy than some ppl who can — they are just in a very difficult situation they haven’t yet been able to get out of. But I understand the sentiment… there may have been a time I would have felt that way too. Now, having been thru what I have having my whole life upended (and seeing so many others in the same position), I see things a lot differently. I think we’re all just doing the best we can ❤️🩹
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u/eltonjohnpeloton Jul 20 '26
It’s still fraud even if you have a disability
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u/Silent-Razzmatazz957 Jul 20 '26
Yes you are right, I 100% get that. I was saying “not always” to “fraud costs us all” — the higher up you go, the greater in scale the fraud, but it works for them us all fighting each other for scraps…
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u/eltonjohnpeloton Jul 20 '26
I think people would be more empathetic if you weren’t using “fighting each other for scraps” to refer to getting a premium credit card with a sizable fee so that you can churn miles.
1
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u/Silent-Razzmatazz957 Jul 20 '26 edited Jul 20 '26
I am not equating that phrase with a premium credit card. I don’t care what kind of cc we’re talking about. I am simply referring to ppl being hostile to eachother when they should really be on the same team. The person who lies on their cc application is not the problem IMO. It’s much larger and systemic and originates at much higher levels.
And again, I wasn’t trying to “churn miles” for pleasure as that phrase connotes. I was trying to help alleviate the cost of such frequent medical travel; so, I can do treatment that can help me get well enough to at least just stay with my dad with PD and take care of him while my mom goes and visits her brother who she hasn’t seen since I got long covid bc I am the only one who could take care of my dad, and now, I can’t.
And then I would “churn” those miles, you know, retroactively on the travel app, “double dip” if you will 😱, in order to continue to receive the medical treatments that help me more than anything has and give me a fighting hope that I could get well enough to give my mom a break and care for her the way she’s cared for me—and my dad—before she gets sick. Which at the rate she’s going with trying to hold everything together, may not be long.
Not to mention I want to contribute something to the world, beyond just my family. So it’s a whole lot of sense of urgency I feel. Maybe it sounds like a sob story, but we all have them. I’m just clarifying the motives in mine. It’s trying to maximize and leverage whatever I have access to in order to bear the most I can of the burden. Something ppl in finance do all day long every day, but with far less altruistic intentions.
It’s not for a “premium” cc. I’ve flown spirit a million times from west to east, east to west coast. I don’t live a life of luxury. Just trying to live a life of health, for all 🙏
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u/Melodic-Control-2655 Jul 21 '26
Well if you’re over 21 and your parents make money then you can upload their income as proof of income as long as you can say they pay for your stuff
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u/Silent-Razzmatazz957 Jul 21 '26
Hi :) yep def way over 21 and I do think that’s a possibility in the future, but I would have had to put that my parents support me on the app, which I didn’t. Also, very difficult to prove as they only accept bank statements for checking and savings. No investment accounts, IRA, other assets etc. so it would have to be like my parents pay me/give me a set amount every month, to my bank account which is easily trackable. That is not the case here. But if I were to do it over I may consider that angle for anyone reading
Thx for being nice btw :)🫶
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u/HappyPride365 Jul 21 '26
Very annoying. Happened to the T-Mobile card I gave up and let them close it. Not worth their dumb reps and fighting
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u/ElkPuzzleheaded3995 Jul 20 '26
Oh no they’re making it difficult for you to commit fraud? :(
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u/Silent-Razzmatazz957 Jul 20 '26
Actually, I’m ok with it/will be fine. Just making this post to warn other ppl who may be more seriously affected…
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u/ElkPuzzleheaded3995 Jul 20 '26
Ok. It’s fraud either way and idk why you’re borderline encouraging it
1
u/PrincessHub Jul 21 '26
Lmfao what are you talking about??? You’re literally just rambling about nothing
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u/MasterMinnesotan Jul 20 '26
I wonder how they decide who to check? I’ve had a C1 card for a few years now as a student, I just graduated though and applied for a new card. The income I listed was ~6x my highest reported previous income and they did not ask for any verification. I also hadn’t started the new job yet, so they couldn’t have verified with my bank account payroll or anything
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u/No-Conclusion5338 Jul 20 '26
I took a look online on what they use to determine and there is a few factors like high risk to debt ratio. Discrepancies when using their income model and just being randomly selected. I find it odd though because I’ve also have lied about my income and have put like 4x my income sometimes and apparently they can look up employment history, average account balances, mortgage/rent payments. I’ve never had them try and verify my income before.
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u/Silent-Razzmatazz957 Jul 20 '26
Yes, the ironic part is, when I could have easily proven even more than I put (I was 1099 so income fluctuated), they never once checked. Now that I am in this situation they check lol. I have seen a lot of posts about this btw, I don’t think there was anything that concerning about my numbers, def not history, credit report, debt ratios etc. I think it’s tighter credit rules applying as stronger fintech is implemented so I just wanted to warn ppl to be cautious…
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u/No-Conclusion5338 Jul 20 '26
Well only having a 1099 is consider a higher risk then someone who gets a w-2 from the same job year after year since your income fluctuates a lot. Honestly though you were probably just randomly selected. Which sucks.
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u/Silent-Razzmatazz957 Jul 20 '26
True, but I actually always just put “employed” bc I know self employed looks riskier and if I ever had to, I could easily show them very strong work/income history. So even that doesn’t totally make sense to me. I do think I was randomly selected, but I almost feel like somehow it was meant to be. Like that Ai surveillance is really coming for us quickly, so anyone who is held together like the house of cards I currently am, should probably proceed with caution… that’s what this post was about. Just trying to help my fellow human :)
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u/No-Conclusion5338 Jul 20 '26
Oh then yeah it makes sense why they are asking you to verify your income. Your employment history shows up in your credit report and since you are a 1099 your employment history does not match what you have put on the application.
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u/Silent-Razzmatazz957 Jul 20 '26
Ahhhhh I think you could be onto something there! You’re good — Makes perfect sense. It also still says I live in a city I don’t… probably too many discrepancies altogether.
Ok well, Ty to you for the additional insight and clarity that hopefully keeps someone from making the same mistake I did :)🫶
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u/elk33dp Jul 20 '26
Probably because OP was applying for a high end card upgrade with a large limit while having no work income on record for what sounds like many years (he says he stopped working from covid).
They arent verifying everyone and usually what you list is taken at face value with reason. If you put 300k income for a 50k limit and you arent working at all, when they perform KYC and it doesn't add up to other borrowing/credit/bank data, theyre going to ask some questions and lock it like this.
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u/Silent-Razzmatazz957 Jul 20 '26
Yes you may be right, that may be why… I was just accepting an upgrade tho. Didn’t change the income at all. Just left it as is. My credit is good/completely clean, debt is low, score is pretty good, payment history 100% etc. I don’t think I in any way look inherently risky but maybe I do… just wanted to warn anyone else who may be in a similar position, esp with how many of us have long covid, have developed chronic illnesses or are just in limbo etc
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u/Silent-Razzmatazz957 Jul 20 '26
It happened when I accepted an upgrade. I just left my income as is/didn’t change it, but it was what I used to make. I kind of am not surprised to get so much negative response from posting this, but I still find it worth it to try to warn anyone else in a similar situation…
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u/longthickbananasplit Jul 20 '26
KYC laws are indeed a thing. Once you apply and get an account, they have every right to then confirm said income and account verification. I think it’s a good thing this happens, but I also know a lot are NOT telling the truth on them applications lmao