Does a replacement credit card hurt your credit score?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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macv55
 
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Does a replacement credit card hurt your credit score?

Postby macv55 » Fri Dec 02, 2011 9:11 am

Visa credit card was stolen and replaced. Does the original history follow the new replacement card? Daughter's credit score plunged soon after replacement and there is no other explanation.


CC Deville
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Postby CC Deville » Fri Dec 02, 2011 4:32 pm

A lost/stolen credit card will always report the original open date, credit line (if applicable) and any account history (good or bad). The only thing that should change is the account number.

Some banks and credit unions will continue to report the original account number marked "lost/stolen" along with the new account number (with the same account history/open date. This would result in two tradelines; although, I don't think this should hurt the score at all.

What are the reasons as to why she reported the card lost or stolen? If the card was lost or if she had an account takeover of some sort she may have other accounts that were used/opened in her name and that could be causing the issue. She will want to request her credit bureaus from all three credit bureaus (Experian, Trans Union and Equifax) to check for any errors.

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jumbo
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Postby jumbo » Sat Dec 03, 2011 4:07 am

I hope not...
I lost my discover more card last week and reported it lost... they now have issued me a new card with a new number.. I asked the lady whom I talked on phone, if this is gonna hurt my credit in any way, and she said No... hopefully she is right.
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ooxs
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Postby ooxs » Sat Dec 03, 2011 8:56 pm

Your account number will be updated to the new card number and you continue as usual without noticing a thing.



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