Goodbye to my first ever card, the Discover It Student. After a fraud investigation that took months came to an end, they found me responsible because the merchant "Had my address". After searching around it seems this sort of thing is final unless you go to the courts; I do not have the time or money for that but I do have the money to pay the disputes they reversed and get on with my life. I just know if it was any other merchant, I wouldn't have to worry about paying for fradulent charges. After this experience with Discover, and my card portfolio I've grown since I started with them, they really just are not worth my time anymore, maybe the CFF can takes it place one day.
I looked into what sort of score hits I can expect for this, and it seems I really do not have to worry much at all because it will be staying on my credit report. The only thing to worry about is that lenders will see my Age of Oldest Account will be about 4-6 months shorter.
I dont keep any of my accounts locked, honestly never will either. I guess I should've in this case.
@GreatLife wrote:Sorry this happened to you. Curious to know if your card was locked at time of the fraudulent transaction?
@Tiggr wrote:Goodbye to my first ever card, the Discover It Student. After a fraud investigation that took months came to an end, they found me responsible because the merchant "Had my address". After searching around it seems this sort of thing is final unless you go to the courts; I do not have the time or money for that but I do have the money to pay the disputes they reversed and get on with my life. I just know if it was any other merchant, I wouldn't have to worry about paying for fradulent charges. After this experience with Discover, and my card portfolio I've grown since I started with them, they really just are not worth my time anymore, maybe the CFF can takes it place one day.
I looked into what sort of score hits I can expect for this, and it seems I really do not have to worry much at all because it will be staying on my credit report. The only thing to worry about is that lenders will see my Age of Oldest Account will be about 4-6 months shorter.
The AoOA will not reset until the card falls off your reports, which is likely to be many years down the road.
