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tsa1119

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Decreased Credit Rating From Cancelling An Account
I cancelled a credit card due to fradulent charges to the account being made by someone unknown. When the credit card company suspected it may have been used without my knowledge, they notified me and I asked that they cancel it. They informed me that they would notify the credit reporting agencies and make them aware of the reason so that it would not affect my credit rating. My score still dropped. Is there a way to fix that?

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Probably not, unfortunately.  The reason your credit rating went down was likely due to AAoA (average age of accounts) dropping because of the closed line.  It is also possible your line closed reported, but your new open line has not reported so your utilization % or open credit line amount went down temporarily.

You may try contacting your lender and have them backdate your new open card to the original inception date of your closed account.  This would help the AAoA issue.  Utilization/open credit line should remedy itself in time with reporting.

It would not hurt to pull your three bureau reports and make sure they were actually reported correctly.  If not, you will also need to file disputes.

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