The company is running a two-month, £4m TV campaign, created by incumbent ad agency McCann-Erickson and starring TV impressionist Alistair McGowan, to promote its new Identity Theft Assistant Service.
The service, which is free to new No Hassle Platinum cardholders, gives information and advice on how to avoid falling victim to identity theft.
Capital One has no plans to extend the service to existing cardholders.
Capital One is reviewing its UK advertising account, with DDB London and Abbott Mead Vickers BBDO pitching against McCann.