topic Re: Credit card cancelled by issuer in Credit Cards

Credit card cancelled by issuer

Scorry — Mon, 30 Jul 2007 23:51:11 GMT

Hi there,

I posted this in another forum. Sorry for the repeat. I have a question about how a issuer-initiated cancelled credit card affects your score.

Recently, my card was automatically cancelled by the issuer because someone tried to use it fraudulently. No money was ever lost. The issuer cancelled my credit card and issued a new one.

Does anyone know how will this impact my credit score?

Re: Credit card cancelled by issuer

rbbyrbsn — Tue, 31 Jul 2007 00:07:09 GMT

sounds to me just just getting a new card with a new number, but your account hasn't been canceled but it's still the same account

Message Edited by rbbyrbsn on 07-30-2007 05:07 PM

Re: Credit card cancelled by issuer

m_jonis — Tue, 31 Jul 2007 01:46:41 GMT

If it's Crap One, then your score will go down because they'll report the old card as ACTIVE and report the NEW one as well. And since they don't report CL, if your current balance is anywhere near the "high balance" you're doubly screwed.

Re: Credit card cancelled by issuer

jizoe182 — Tue, 31 Jul 2007 11:45:30 GMT

m_jonis wrote:
If it's Crap One, then your score will go down because they'll report the old card as ACTIVE and report the NEW one as well. And since they don't report CL, if your current balance is anywhere near the "high balance" you're doubly screwed.

Really? I remember losing my card once with them, and they sent me a new one with a new card number. I only see one Cap1 card reported in my credit report.

Re: Credit card cancelled by issuer

Tuscani — Tue, 31 Jul 2007 17:22:49 GMT

As long as it has a $0 balance you have nothing to worry about.