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Question By
pailin02

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My purse was stolen, why closing the cards to prevent some charging on them cause my score to drop?
But they were re-opened the same day. It was due to theft which left me no other choice.

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because you CLOSED the accounts regardless of the reason those accounts no longer exist so they don't count towards your history...the best option would have been to contact each card company individually which is why your suppose to copy the front and backs of your cards and putt hem in safe place like a safe deposit at a bank....very secure for $40/year and when something like this happens you still have the company info to put a FREZZE on the accounts in question after 6 months 90% chance you have no issue ans still maintain established credit.....also setting up alerts is a good idea so you know as soon as a purchase is made

Reply by
pailin02

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Henry I close my accounts at the advice of the credit card company they told me people were freezing thier accounts and waiting like you said but that was not a good way to do it, the theives got a hold of that idea and they are now waiting to use your account after a while.  

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Why it have an effect on my scores.

When some one  steals your purse and Credi Karma see that your new credit card with the same amout they should not count this as closing . More over your card should not be treated as a new card, also notice they drop my length of  years on my report. 

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Reply by
Addison170

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If you have a police report on the theft, visit at least one of the credit bureau's website and at the very least, put on a fraud alert.  One bureau has to notify the others of the alert.  You may need to provide them a copy of the police report.  If you want to freeze your credit, you can do that for free (with a copy of the police report) by visiting each bureau's website.  You'll receive a PIN number from each bureau, put those in a safe place.  Once you are ready to apply for credit, go online to each bureau and "thaw" your credit for 30 days with you PIN numbers.  Then it automatically gets frozen again.  That is best way to protect yourself.  Credit Karma doesn't count anything one way or another, they just spit out the information that is showing up on your TransUnion credit report.  You'll need to deal directly with the bureaus to make sure they understand what is going on so that your credit isn't damaged.  Providing them with the police report will help with that.

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Thank you to Addison170

Thank s Addison excellent advice I'll do that.

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