I just got a call from the Fraud Dept. on my oldest running credit line. They guy asked me if I made like $8.00 charges to restaurants and if I made a credit of $22.88 at target (No, take that credit off, its fraud!).. Anyway, they kept saying that even though I had no issues they still had to "security close" the account. I called back and the person told me that they "had" to security close the account because there was a breach at a retailer. I am worried about this "security close" and reissue of cc# showing up as a close and a reopen of a new credit card on my credit report.
Does anybody have any experience with this? I am worried I am going to lose my oldest running credit line of 11 years on my credit report. The customer service rep claimed that the new card won't show up as a new credit line with the old account closed. From their wording I don't believe them but figured somebody else might have gone through this.
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This should be treated the same way as if you lost your card. The number on the credit card will change, but the 'account' should be the same. It should have no impact on your credit report.
That is good to know. I am wondering what retailer got breached as well. I got worried when the first guy couldn't understand that oldest credit line has bearing on your credit score.
No, the account being security closed has no bearing on your report. You will notice that they will only update the CC# on your Credit Report. Pull up your free annual report to find this information. Also, accounts that have been closed will still show up on your report for at least 5 years I believe. Your average age will dip, however.
MoonlitHollow said: Also, accounts that have been closed will still show up on your report for at least 5 years I believe. Your average age will dip, however.
That doesn't sound good. I have 3 Citi Cards that were closed by Citi due to security concern on their side (claiming that my card number was compromised even though no fraudulent charge showed up in my account). In all 3 cases they issued new cards to replace the old ones. Since these cards were opened only 2-3 years ago my average credit age would suffer?
Message edited by: busterbaxter on 2009-11-05 14:06:31 CST
busterbaxter said:MoonlitHollow said: Also, accounts that have been closed will still show up on your report for at least 5 years I believe. Your average age will dip, however.
That doesn't sound good. I have 3 Citi Cards that were closed by Citi due to security concern on their side (claiming that my card number was compromised even though no fraudulent charge showed up in my account). In all 3 cases they issued new cards to replace the old ones. Since these cards were opened only 2-3 years ago my average credit age would suffer?As said above:
sfvera said:This should be treated the same way as if you lost your card. The number on the credit card will change, but the 'account' should be the same. It should have no impact on your credit report.Again, these are just new physical cards; the accounts remain the same, and will not affect your credit report.
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