Some people are so lucky that they can’t lose their credit card or let them steal their cards or numbers. But most of us, unfortunately, will have this happen at least once in our lives. If this occurs, and you quickly report the incident, you can request an exchange card from the issuer without a penalty to include your new credit card number. But it raises doubts: Will changing your credit card number hurt your credit score?
In most cases, the answer is no. However, we recommend learning more about why you want to request a replacement card with a new number, when and how to request it. You also need to know what to do after your original card is stolen or lost, or after suffering from theft of your identity related to your card. If you don’t pay attention, your old numbers may come back and bother you.
Why you may need to change your credit card number?
In fact, there are several reasons why you might want to request a replacement credit card with a new credit card number, including:
- Your physical cards can be stolen, lost or compromised.
- Not the card itself, but the credit card number has been stolen and used illegally.
- The card number was published during a data breach or hacking event.
- You want to split your finances following separation or divorce involving partners with duplicate cards in your account.
If your card or account data is misplaced, stolen or compromised, you will need a new credit card number. This will prevent your old card number from being fraudulently used and will not be able to be in the hook due to unauthorized fees. ”
– Zach King, Georgia’s own credit union director
Impact on your credit and wallet
Whether you are losing your physical card, being stolen, or suffering from a data breach or identity theft can be stressful. Bad actors can make fraudulent purchases using stolen plastic or card numbers. These incidents that remain unchecked and unreported for a long period of time can be liable for some of these transactions and can lower your credit score and harm your overall credit.
But the good news is that if you act quickly and contact a credit card company, your credit score should not be negatively affected and you should not be forced to pay for what the burglar charges on the stolen card.
“If you ask the issuer for a replacement credit card and use that new card, then you should not affect your credit if you use that new card, assuming you have a proper record of the closed card being replaced by the newly issued card,” King says.
Personal Finance Pro Andrew Lokenauth, owner of TheFinancenewsletter.com, agrees.
“Getting a new credit card number does not damage your credit score. Your account history remains the same. Only your credit card number will change. This will be linked to the same account you opened with that issuer. This change should not affect your credit report either,” he says.
According to the Federal Trade Commission, if a credit card is stolen or lost, federal law limits liability for claims made without permission. Here is a breakdown of these protections:
| action | result |
| Report credit card theft or loss before anyone can use it. | We are not responsible for any fees that we do not approve. |
| After someone uses it, you will report the loss or theft of your card. | The maximum possible liability for you is $50. |
| Your account number will be used, but your physical card will not be stolen or lost. | We are not responsible for any fees that we do not approve. |
What to do when you need a new credit card number?
If you are separated or divorced from the partners you share that account with, you need a new credit card number, call the number on the back of the card, explain the situation, and request a new card and number.
However, if your card is stolen, lost, breached or used illegally, you should get a card issuer as soon as possible. If your card or number is used to create an unauthorized fee and is too long or you do not contact the issuer, these transactions will ultimately be reported to three credit bureaus (Transunion, Experian and Equifax) if you do not pay these transactions on your credit card invoice. This could result in a lower credit score.
Acting quickly will help you avoid these effects. If your credit card information is stolen, especially if your identity has been stolen with it, you will need to follow the steps below.
Immediate action
- Please check your account. Please check your account transactions and note any fraudulent charges you may notice. If your card issuer has a mobile app, you can check if there is an option to freeze your card immediately while you are ready to call the issuer.
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Please contact the credit card issuer immediately. Call the publisher’s fraud hotline and let us know about your findings.
- American Express: 800-528-4800
- Bank of America: 800-732-9194
- Capital 1: 800-227-4825
- Tracking: 800-955-9060
- City: 800-950-5114
- Discover:866-240-7938
- Wells Fargo:800-642-4720
- USAA: 800-945-6759
- Please send a letter to the card issuer. In addition to calling your credit card company, the FTC recommends mailing a paper letter to the issuer that includes the account number, the date and time when it discovered that the card was missing or stolen, an unauthorized fee, and the date when it first reported the loss or theft. Keep a copy of this letter and a note or record of your communication with the publisher.
If identity theft is a concern
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If your identity is stolen, contact the three credit departments. They can each place a fraud warning on your files within your credit report.
- Trans Union: TransUnion.com or 800-680-7289
- Experian: Experian.com or 888-397-3742
- Equifax: Equifax.com or 800-525-6285
- Please contact the fraud departments of other banks, lenders and financial institutions. Notify them that one of your cards has been lost or stolen, and your identity has been damaged.
- Change your password and login information. This applies to accounts that link credit cards. Please also remove compromised card information from online shopping platforms.
After reporting
- I’m waiting for the exchange card. Most new credit cards arrive within a week or two, but if you need them faster, you may also get quick shipping.
Expect what to do after getting a replacement credit card
Once you receive the exchange card and resolve any fraudulent transactions with the credit card issuer, it will be easier to breathe. But your due diligence doesn’t stop there. There are other important steps you need to protect your credit, including:
- Destroy Your old card. Many pieces of paper have slots for cards, so you can use one of them to shred effectively. You can also destroy the strip by cutting with scissors using strong magnets. If you choose to use scissors, experts recommend cutting cards into multiple pieces that cannot be easily connected, or discarding the pieces individually.
- Secure it Automatic payments for the old card will be transferred to the new card. If you are automatically paid for your old card monthly subscription, membership, utility fees, and more, future transactions with these vendors may be reduced if you are not transferred to the new card. If denied, the claim may be sent to the collection agency. This will cause the incident to be reported to three credit departments, lowering your credit score and undermining your ability to be approved for future credits.
- check Your credit report is a daily occurrence. Your review 3 free credit reports Be careful about errors, inaccuracies or red flags related to old cards and accounts. Work to resolve any of these issues to the credit bureau.
Conclusion
Getting a new credit card number and card to exchange your old credit card should not harm your credit score or credit report. If the card is not found or is being used by a burglar, don’t forget to contact the issuer immediately. Many issuers have mobile apps that allow you to temporarily freeze cards or request exchanges. Second, we will continue to closely monitor your account fees and credit reports for better security.
