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Posts: 71
Registered: ‎06-28-2012
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Issued a new account because of Fraud - question about credit report

Hi, so today I had the fun experience of seeing a few random transations I did not make on my Capital One card.  I contacted the merchent and Capital One.   Capital One is closing my account and sending me a new card.  What does this look like on the credit report? Will it show as the same account on my credit report or will I lose the history (I know it stays on there for 10 years anyhow) and will this be like a new tradeline? 

 

Thanks!

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Posts: 2,140
Registered: ‎03-30-2012
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Re: Issued a new account because of Fraud - question about credit report

Usually what happens is that the old tradeline will report as Closed with Lost/Stolen notation.

 

The new tradeline SHOULD include the history from the old account. I'd double check to be sure, though.

 

Another possibility is that they could swap the entry out completely...just replace the account number.

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Re: Issued a new account because of Fraud - question about credit report


injustifiiable wrote:

Usually what happens is that the old tradeline will report as Closed with Lost/Stolen notation.

 

The new tradeline SHOULD include the history from the old account. I'd double check to be sure, though.

 

Another possibility is that they could swap the entry out completely...just replace the account number.


I'd hope for the 2nd option rather than what usually happens.  

 

Good queston OP.  I'd never even would have thought about this.  And hope it never happens to me, but if it does then i'd know what to expect.

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Posts: 851
Registered: ‎02-11-2012
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Re: Issued a new account because of Fraud - question about credit report

That recently happened to me with Chase. The old and new cards reported for two months, then the old card fell off. My new card then showed all of the old information (highest charged amount, history, etc.). No inquiry or change to AAOA and utilization.

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Re: Issued a new account because of Fraud - question about credit report

I've heard of both happening as well.  It shouldn't make much of a difference either way because on the new account the history should carry over, and just show a closed account due to fraud.  Just make sure to pull a credit report soon.  As a victim of fraud you have special rights from the credit bureaus, so make sure you check your report frequently.


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Re: Issued a new account because of Fraud - question about credit report

My original cap1 was closed for fraud, but I did not receive a new account. They changed my account number, mailed me a new card, and my CR was updated with the new info. No new accounts reported, and no account reported as closed.


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