Does reporting a credit card as stolen ding your credit?

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yawnmoth
 
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Does reporting a credit card as stolen ding your credit?

Postby yawnmoth » Tue May 12, 2015 11:25 am

I know a hard inquiry on your credit will ding your credit score by a few points. What about reporting your card as stolen and getting a new card re-issued? Does that ding your credit at all?

What if, as an extreme example, you claimed your card as stolen once a month for a year. Would that hurt your credit score at all above and beyond the fact that you wouldn't be able to spend it while the replacement was in transit?


Vermonster
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Re: Does reporting a credit card as stolen ding your credit?

Postby Vermonster » Tue May 12, 2015 2:13 pm

Reporting a card stolen will give you many more headaches than a hard inq on your report. But if all they are doing is issuing you a new card then there will be nothing on your credit report. A hard pull will only happen with a new account, changing numbers on your card is not a new account.

I think in your "extreme" example you might be able to do it once or twice but if it was a regular occurrence you can bet the fraud department would be looking at YOU. Lots of fraud on an account makes you a very risky account. I would be surprised if you didn't get blacklisted by a lot of places.
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takeshi
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Re: Does reporting a credit card as stolen ding your credit?

Postby takeshi » Wed May 13, 2015 8:32 am

yawnmoth wrote:What about reporting your card as stolen and getting a new card re-issued? Does that ding your credit at all?

No. Typically there will be two of the same account reporting during the replacement process but the old one will fall off and the new one should have the same info as the old one aside from the account number.

yawnmoth wrote:What if, as an extreme example, you claimed your card as stolen once a month for a year. Would that hurt your credit score at all above and beyond the fact that you wouldn't be able to spend it while the replacement was in transit?

As mentioned above with your extreme example your problem would be with the fraud department for your creditor.

How would not being able to use it hurt your credit score? Or was your question just oddly phrased?

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CarefulBuilder14
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Re: Does reporting a credit card as stolen ding your credit?

Postby CarefulBuilder14 » Wed May 13, 2015 9:20 am

takeshi wrote:How would not being able to use it hurt your credit score? Or was your question just oddly phrased?

0% utilization, perhaps?
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