Credit Cards

[creditstarved]

I recieved an email notification from Chase about a possible fradulent charge tonight and indeed it was fradulent. Prior to them declining that one, the perp was able to charge about $150 worth of stuff before Chase shut them down. The lady on the phone said it was a physical swipe in the store, but the card is physically in my possession, so no idea how that happened.

Long story short, I shoudn't have any liability here from what she told me. She did say that they'd have to close my account and I'd be re-issued a new card and also some mumbo jumbo about having to report it as such to the three credit agencies.

So here's my question, how does this impact me? The card has been open since 2009, so am I going to be losing 4 years on my age of account? Can I expect to be dinged thanks to some jackhole lifting my #??

[SisterGirl]

Sorry about that, but you won't lose the age of the account. I had a similar situation with my State Farm Visa & my AMEX green, but new cards with new account numbers and same date of start intact. Good thing they caught it when they did, but my hope is there are no other yet unknown issues....Chase will take care of it !

SisterGirl

[enharu]

Someone took your card numbers, expiry date and 3 digit number at the back, and made a duplicate fraudulent card.

u wont be affected as long as the only thing they stole is your card number.

check to make sure nothing else was stolen (such as your SSN).

You will not lose 4 years account age. You will not be dinged.

Chase usually reimburse all fraudulent transaction money back to account holders within 24 hours, so you're covered on that as well. There's really nothing you need to do with regards to your Chase account. Chase has really good service on this so there's no need for you to worry.

Just make sure your other cards are not affected as well and there's no new unauthorized accounts opened using ur SSN.

[myjourney]

Good thing they caught it 

[enharu]

oh and make sure there's no past fraudulent transactions as well.

it might have been going on for a while but chase recently just detected it.

as long as it is within a reasonable time frame you can usually contest it.

[creditstarved]

"Someone took your card numbers, expiry date and 3 digit number at the back, and made a duplicate fraudulent card." - terrible that something like that is possible of being done.

Thankfully Chase caught it and sent the email. I would have eventually noticed the random charges as I watch my accounts like a hawk - at least once a day. I'll continue to monitor and I'm guessing I should pull my credit reports in a month or so to make sure no new accounts that I haven't opened show up if they took my SSN somehow, too.

[wche]

I've had the same thing happen to me last year on my Chase card. It was for a charge at a Target store out of state. They called to alert me of the fraudalent activity and proceeded to close my card and re-issue a new one with a new card #. My history stayed the same and nothing changed. Chase really took care of me!

[creditstarved]

Yep, out of state charge here, too. They let the first one through, then caught the 2nd attempt. So the crim got away with something. I hope they get caught!

Good news to hear.

[scenery_guy]

The CSR tipped you to something important. Your credit report will reflect something along the lines of "credit card reported lost or stolen,closed" under status and should also say "credit card lost or stolen" under creditor' statement. You card and account will indeed be closed. They will open a new account and issue you a new card. Not really a big deal I guess but it's worth noting you will not get all of the history of the old card with the new account. 

I know this as I just went thru it with Bank of America. I pulled an Experian report under a dispute (over this incident, too much to detail here and not really important to you) so I could see what they were doing. My new account does show same opening date as old account, still shows high balance and limit, it just does not show all of my history of payments and balances. My old account shows as closed but still lists all of my history of payments and balances. 

The technology is out there to replicate a physical card once your info is stolen. This is why the US needs to adopt chip and pin or chip and signature technology. Mine was an online charge but if yours was a swipe for $150 there should be a signature with the transaction. Follow up and request to see verification that the signature is not yours. They have one on file, ask them to compare it. 

So just a heads up, and as others pointed out keep an eye on your reports. 

[nagisa]

scenery_guy wrote:

The CSR tipped you to something important. Your credit report will reflect something along the lines of "credit card reported lost or stolen,closed" under status and should also say "credit card lost or stolen" under creditor' statement. You card and account will indeed be closed. They will open a new account and issue you a new card. Not really a big deal I guess but it's worth noting you will not get all of the history of the old card with the new account. 

I know this as I just went thru it with Bank of America. I pulled an Experian report under a dispute (over this incident, too much to detail here and not really important to you) so I could see what they were doing. My new account does show same opening date as old account, still shows high balance and limit, it just does not show all of my history of payments and balances. My old account shows as closed but still lists all of my history of payments and balances. 

The technology is out there to replicate a physical card once your info is stolen. This is why the US needs to adopt chip and pin or chip and signature technology. Mine was an online charge but if yours was a swipe for $150 there should be a signature with the transaction. Follow up and request to see verification that the signature is not yours. They have one on file, ask them to compare it. 

So just a heads up, and as others pointed out keep an eye on your reports. 

This happened to me a couple of years ago, back when I only had one credit card (was a pain being cardless lol). On my CR the reissued card has the full payment history. There is a closed card ("lost or stolen card") and it contains no limit/payment history/high balance. 

If I have two cards on my CR do they both contribue to AAOA? Supposedly regular closed cards continue to count for AAOA for 10 years, so I wonder if cards closed for fraud also do. If so, that's pretty nice to get a free AAOA bump as it's my oldest card.