Posted by William Charles on February 1, 2018
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Published on February 1st, 2018 | by William Charles

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Capital One Offering H&R Block Premium In Exchange For Tax Data

Capital One is offering some card and account holders H&R Block Premium product, there is no charge when using this service but in exchange Capital One gets access to your tax data. You’ll need to log into your account to see if you’re eligible for this deal or not (you should see an offer similar to below). You can see a list of features here. You’ll see the following warning when accessing the H&R site:

  • I authorize H&R Block* to disclose to Capital One my Social Security number and income information used for my 2017 tax return so Capital One may provide me personalized evaluations regarding credit odds and limits and provide me offers. I also authorize H&R Block to disclose to Capital One information from my 2017 tax return necessary to service, maintain, report on, and administer my participation in this offer and the tax preparation application

Personally I’d rather pay the money to get access to H&R Block than give Capital One this level of data. I could maybe see it being more attractive if it was anonymized data that they were using in aggregate, but I don’t see how that would be particularly useful. We’ve recently also seen Credit Karma come out with a similar free tax filing service as well. I personally find that paying a tax professional to handle my taxes is worth the expense, but everybody will be different so do your own research.



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Andrew
Andrew

I would need to know if I am also authorizing CapOne to share our information with third party companies.

Trippy
Trippy

Bank-level privacy
We will never share your tax data with any third party

This is what I see in my offer

Stryker
Stryker

I received the same offer when I logged in. Cap 1 can stay the eff out of my financials.

PT
PT

What type of “improvements” would they be making exactly? They decided to extend me $35K in credit across 3 cards without issue. I then combined the 3 cards into one card with a $35K limit. 8 months later, they knocked the limit back to its original $10K, losing $25K of credit limit because my utilization of the limit was TOO LOW (I didn’t spend much on the card). Maybe they should improve the basics first like how credit limits are handled to be more like other issuers.

Chaim
Chaim

It offers a 10% bonus on federal refund if you elect to recive in amazongift cards
That could be worth it for some people
You can elect to recive partial as well

MoreSun
MoreSun

Yeah no.

Ihor
Ihor

Cap1 already know your SSN, where you live, etc. What is a big deal sharing your income especially if all your income is reportable?

Larry
Larry

Just curious, what kind of bad things would there be if C1 have our tax data??

Irena
Irena

Figuring out churning behavior for checking/savings.
Figuring out where you keep your money and what kind of interest/dividends you get, seeing all sources of income and various expenses provides a lot of information.
Figuring out other people who are related to you (dependents) that they would otherwise not know about.

quickMaffs
quickMaffs

You can also use MyFreeTaxes to get HR Block Premium for free if your AGI is below $66,000/yr

don the don
don the don

thank u for that information. and thank u United Way!

Charlie
Charlie

The only motivation behind this offer is for Capital One to get hold of tax data. Once they have the tax data, they no longer have to worry about income verification on card applications or credit limit requests.

RD
RD

The C1 app has something called Credit Wise which is pretty much a version of Credit Karma. So I think they already know enough about my finances as to figure out my taxes info, at least income and expenses. I’ve done taxes with H&R before so what’s the big deal here?

Moldova
Moldova

If anybody here used this offer last year – you can get free HR block again this year by simply loging in into HR block account and consent to terms on pop up.

I would think this might be available for new users via Capital One too, later this year

Grant
Grant

Thanks worked for me as I did this last year as well.

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