Reply
New Member
Scorry
Posts: 6
Registered: ‎07-30-2007

Credit card cancelled by issuer

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? 
Established Contributor
Posts: 739
Registered: ‎06-30-2007

Re: Credit card cancelled by issuer

[ Edited ]
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
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Contributor
m_jonis
Posts: 76
Registered: ‎06-30-2007

Re: Credit card cancelled by issuer

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.
Finally made it to 813
Frequent Contributor
Posts: 353
Registered: ‎07-18-2007

Re: Credit card cancelled by issuer



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.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Credit card cancelled by issuer

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

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+