What you're basically saying to prospective new users is this:

"I don't trust you enough to spend bandwidth and server-resources on you without getting your ID and credit card info. On the other hand, I expect you trust me with your personal identification and credit card information right off the bat."

I've had to deal with credit-card fraud in the past, so I simply don't deal with companies that do this. I suppose the question is whether or not you're saving enough on costs to offset losing clients who are cautious with their CC and ID info.