How does your credit get affected by a closed credit card account due to a stolen credit card?
Written By: admin on December 20, 2009
One Comment
What happens to one’s credit when the person’s sole credit card is taken and used illegally? We’re not sure how this will affect efforts to refinance, as this is my wife’s only credit card. She will be receiving a replacement in the next week and will have an affidavit indicating that the charges were not hers.
Any suggested approaches to ensuring that her credit info is considered before the card was stolen and the account closed?
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Tags: affidavit, credit card, Credit Cards, sole creditTags: affidavit, credit card, sole credit
You really shouldn’t have much of an impact, since the card is being re-issued. Basically you still have the same account, same history, same limit as the ancient card, just with a new number. She will need to be very careful about the fraudulent buys. If the bank does not wave them, she could be held responsible. If she doesn’t pay this will hurt her credit. To be on the safe side take the affidavit with you when you re-finance this will be your proof that if anything negative shows up, it wasn’t yours.
My next question has to be how did they get her card. If a wallet was stolen, home broken into, mail stolen, keep in mind the other info this thief may have. Name, address, social, etc they may have more than enough to commit credit fraud,(Opening other lines in her name) it may be a excellent thought to sign up for a credit monitoring service for a small while.