Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Grow441

0 Contributions
0 People Helped
How does a replaced credit card affect my credit score?
Due to risk reported by a merchant where I had used my credit card our credit card account was closed and a new card issued. For a short time my credit limit reflected both cards so it appeared my limit had doubled. Does the replacement of this card affect my credit score and will the false increase in limit have a negative affect?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1971 Contributions
3818 People Helped

It usually take about 30 days to update

You might see a slight hiccup but it should correct itself right away. 

1 Contribution
0 People Helped

replaced card

They cancelled a lost card and replaced it with a new one but my score went down 40 points

2 Contributions
0 People Helped

lost card lowered my score

My score dropped -25 points when my Cap One card was stolen and canceled, they replaced it with a new one.  This showed an account as being closed, and a new one opening.  This started my 4 year credit history back to 0 (1st year) (and made it look like a cancellation due to nonpayment, instead of the SAME account, new card?)

You should be penalized for a stolen card.

Reply by
starbaseone

2 Contributions
0 People Helped

Correction: cardholder should NOT be penalized for a stolen card.

1 Contribution
0 People Helped

Replacement accts

I also was penalized for a stolen card. One of my cards had the number stolen (I still have the card) but when someone tried to use it in Ind. it put up a flag and my acct was closed and a new one opened lowering my score everytime and it has happened to me 5 x. (two of those x's was because I lost the card). It's not right that I'm being penalized because someone steals my card or I lose a card (even though I reported it right away).

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.