Got a text today about a $6,000 charge that was approved on my card. I have a 7,000 limit on the card so that leaves me with 1,000 remaining if this reports its truly going to tank my score and I am truly considering closing this card due to this I mean i have never spent anything close to this on the card since I have had it. Seems like Cap One is not handling security very well. Just nervous about the score impacts I plan on buying a new home next year and would be concerned if my score would bounce back in time and once I sell my current property I will pay off car loan and essentially be debt free until new mortgage reports. Will list scores and accounts to give a full picture.
FICO 8s EX: 767 EQ: 765 TU: 780 as of 08/02/2021
Citi Premier 1K/10K Opened: April 2020
Saks Mastercard 6K?/7K: June 2020
Discover 0/25K: July 2015
Home Depot 0/5K: March 2020
Best Buy Visa 0/7K : Nov 2016
Macys AMEX 0/5K : Feb 2021
Virginia Credit Union 0/10.5K : March 2009
American Express Everyday 0/30K : Jan 2021
Bank of America Cash Rewards: 0/10K : Dec 2012
Have you talked to someone? It should be reversed quickly, the account closed and a new card issued. The fraud investigation may take a long time but during this time the charge should be removed from your account. Has Cap One indicated differently?
@KatSoDak I did report it as fraud but I have done business with this particular company but the young ladies payment system was hacked so not sure how that will go.
@CreditCuriosity I just feel very un easy that they so easily approved basically maxing my card out when that is no where near my spending pattern.
@CreditCuriosity Understandable i guess im just more concerned about my score effects. I wish i could downgrade it to a store account.
@Harvey26 wrote:@CreditCuriosity Understandable i guess im just more concerned about my score effects. I wish i could downgrade it to a store account.
There's really nothing to worry about in terms of your score. Fraud is fraud, and once it's been taken care of, there will be *no* impact on your credit.
I've had multiple experiences involving fraud, and they all turned out fine. In one case, someone opened multiple cards in my name, including a [no limit] Amex Platinum card. 
And a Capital One card. Those were shut down immediately upon notifying them. Also, my BofA Visa was used fraudulently, and they imemdiately shut it down and sent me a replacement card with a new number. (We never did figure out how my number got used, as *I* had the only physical card in my wallet.)
Anyway, you should have no reason to be concerned about long-term ramifications on your credit scores.
@Harvey26 wrote:@KatSoDak I did report it as fraud but I have done business with this particular company but the young ladies payment system was hacked so not sure how that will go.
Wait... WHAT?! Are we talking about Capital One, or not? Whose system got hacked, and what does that have to do with your fraudulent charge?
@SoCalGardener capital one was not hacked. my card was on file somewhere and that account got hacked and my card was charged frauduently that way.