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A couple weeks ago I hit a big milestone (for me)--I registered an *precise* 700 FICO 8. Starting back in August of 2019 with no credit whatsoever I was able to get to this point without even a secured card. I was happy; MAN, it was glorious. To work so hard at something and to hit a goal you had intended is one of the most amazing feelings one can ever experience. (I know a 700 FICO is roughly the average score for the average person in the US, but for me it truly felt monumental.)
Nevertheless, 48 hours ago I found out my credit card--that I had used merely once--was used to make *several* charges in a short time span. Fraudulently. I don't yet know all the details. All I know is that someone just about maxed out a $700 card, *and* made credit inquiries for a loan (PARLAY CAP/PUSHPIN HOLDINGS, which I'd later learn is Lease Finance Group; either that or they're an entity that either works for, or with, LFG.) I've yet to reach PUSHPIN or LFG so I don't know what is going on. Is it at all possible this is some legit debt collector who found *this* day--the day after I'd found out--to come at me for some old debt or something? I have zero idea. But This/these person(s) also made some kind of inquiry for something at Discover Bank, which I'm still working to obtain info on. Regardless, my score went from that 700 down to 658, essentially overnight.
Heartbroken. Devastating. Defeating. It hurt, and *continues* to hurt. Nevertheless, there's work to be done to fix this mess. I of course called the bank and they've launched an investigation and are sending me another card.My problem is I don't know what to do next. I feel like doing everything all at once, but I feel frozen with inaction because I really don't know the best path forward as I still do not yet know what even happened. Besides a crime, of course.
Anyway, I've locked my Experian, but Equifax gives me a pop-up saying I have to call them Monday, and TU is also seemingly playing that same game. So, I feel lost for the time being. I'm a rookie and I feel played, and it is tough to swallow. My only hope is all of you right now because I simply do not know how to proceed. I don't want to make this worse by making a mistake; I just want what I worked for. I had worked to get my accounts down to a ~10% credit utilization ratio from the 30%+ the month prior. And now this happens. A COVID scare is of course more serious, but it just all feels so surreal.
Whatever advice you all may have, I'd love it---**bleep**, I'm *begging* for it at this point.
P.S. I realize I likely left out some significant info but I am literally shaking as I type this. It's hard to even type right now, much less think, tbh
Sorry to hear about your troubles! You definitely need to file a police report and get a copy of it, with the report number. After you have that place a fraud alert on your credit reports. This is different than a freeze. Freeze's do not allow credit checks at all. Fraud alerts allow credit checks, but have to verify the person's identity first. But it is the first step in removing fraud activity from your reports.
If you can create a transunion account, the transunion freeze app makes it super easy to freeze and thaw your credit.
So the card already reported to the credit bureau?
You'll get those points back. Disputing the charges will get them removed. That's where your points drop is coming from, it's temporary.
Try not to let it get you down.
Credit fraud is very common.
The good part is you're not responsible for it
I see it atleast once or twice a year on a card. Just had a new capital one card sent to me a few weeks ago.
Someone was charging small amounts to it, $3 and $4. I suspect test charges.
Little did they know, that card has almost a $50k limit on it. 😂
I locked it immediately and called the bank when I had time.
You'll be fine, relax.
You can dispute the inqs as well to get them removed.
@Gmood1 wrote:So the card already reported to the credit bureau?
You'll get those points back. Disputing the charges will get them removed. That's where your points drop is coming from, it's temporary.
Try not to let it get you down.
Credit fraud is very common.
The good part is you're not responsible for it
I see it atleast once or twice a year on a card. Just had a new capital one card sent to me a few weeks ago.
Someone was charging small amounts to it, $3 and $4. I suspect test charges.
Little did they know, that card has almost a $50k limit on it. 😂
I locked it immediately and called the bank when I had time.
You'll be fine, relax.
You can dispute the inqs as well to get them removed.
+1
@Anonymous wrote:... Whatever advice you all may have ...
It's a good idea to set-up alerts on your credit files to mitigate just this sort of scenario. I have various alerts on all of my accounts. Some get very little use & thus I don't check on them much. Alerts are a nice safety net.
One such card that gets little use is Office Depot. I haven't used it this year. Yet a couple of weeks ago I got an alert stating they have rec'd my automatic minimum payment -- how could I have a payment without a purchase? Something is wrong.
It was fraud, and the damage got cut short, and without harm to my credit file (which might have triggered additional problems with other lenders). Office Depot ate the charges, issued a new card. Disaster averted.
Best wishes.
Utilization has no memory so you will get the points back when it's cleared up. Can dispute the inquiries too. This is why cras should be locked or frozen unless you are seeking credit