Does reissued credit cards affect my credit score?

[Vapors]

Hi all. I know that I want to keep credit cards that I have used for a long time, which have good history, open. In the last 6 months I have had 1 credit card reissued with a new number because the card had an unauthorized purchase on it. I have had 1 credit card reissued with a new number because Citi upgraded my card. Finally I have had 1 card reissued with a new number because I used the card at TJ Maxx at some point and their database was compromised.

So 3 of my 4 cards have now been reissued with new numbers in the past 6 months. My 4th card is less than a year old. I asked Citi if this affected my credit score and they said it didn't, but I want a second opinion. Does anyone know if this hurts my credit score? If so, is there anything I can do to help it?

Thanks.

[katwoman]

If the account numbers are all new then it looks like you have a bunch of new accounts and have lost the history on the old accounts.

Scorewise, it's going to depend on how long it's been since you had new credit issued to you. Every case is different so I'll give you a personal example.

For many years I had not opened a new credit card account and suddenly I got one. Now you might think this is a bad move but it had the opposite effect. My score jumped. Then I added another new card and my score jumped again. Strangely, FICO rewards you for any activity after a long period of non-activity.

If however you keep adding new lines of credit then the inquiries will start chipping down your score.

Now I didn't pull FICO to know I got a score jump so you might be asking yourself "how would she know?" I happen to live in a state that allows auto insurers to use credit scores as a variable in auto premiums. All other variables like make, model, year of car, zip code, drivers, driving record etc have not changed in my situation. The only things that have changed (incrementally and predictably) have been my age and the age of the car. The only variable that has seen any significant move has been my credit score over the last 4 years. By reading the various credit boards I've been able to raise the score AND I know exactly when the auto insurer does a soft pull on my reports so that if I do open a new line of credit it's done on the heels of the insurers pull thereby giving me 5 months of history before they take another look.

The bottom line (at least, for me) is I've seen my 6 month premiums go from $486 to $231 during this four year period! And that's how I know where my score is at. I use my auto insurance premuims as a benchmark for my credit score.

[Vapors]

That's what I was thinking too. Since the accounts will show up on my credit cards as new numbers they would be preceived as new. They said that the date opened would still be the old date but I am thinking the payment history will be gone.

It's stinks that they can affect my credit like this against my will when I have done nothing wrong.

[neatdesign]

So 3 of my 4 cards have now been reissued with new numbers in the past 6 months. My 4th card is less than a year old. I asked Citi if this affected my credit score and they said it didn't, but I want a second opinion. Does anyone know if this hurts my credit score?

No, it won't hurt your credit score. Your accounts have been given new numbers and nothing more. The accounts themselves -- their history, their terms, etc -- are still exactly the same. They are not new accounts, just old accounts with new numbers. It may sound like splitting hairs but it's actually a very important difference.

ps. I worked at Capital One previously and am basing my response on my experience there.

~ Jenney

[Vapors]

Thanks for replying neatdesign. That makes me fell a whole lot better. It makes sense that it wouldn't but the way credit reports are displayed, I was worried the new numbers would appear to be new accounts since the old accounts are now closed.

Thanks again.

[mekish]

Originally Posted by Vapors

It's stinks that they can affect my credit like this against my will when I have done nothing wrong.

i wouldn't worry too much, non of these instances are your fault. your credit score will not be hugely affected.

[momof1in150]

I ended up with a new account number for my BOA LL Bean Visa because someone stole the number and tried to use it on a lot of junk. They reissued the card under a different number. It only shows up on my credit report as one account with the original account history. If it showing up as two different accounts I would dispute it with the Credit Bureau.

[vsjhoc]

Originally Posted by neatdesign

No, it won't hurt your credit score. Your accounts have been given new numbers and nothing more. The accounts themselves -- their history, their terms, etc -- are still exactly the same. They are not new accounts, just old accounts with new numbers. It may sound like splitting hairs but it's actually a very important difference.

ps. I worked at Capital One previously and am basing my response on my experience there.

~ Jenney

I agree (although I didn't work at CapOne). My credit report shows that although I changed account types and account numbers (AmEx charge card to AmEx Blue; Chase United Miles to Chase Freedom), I kept all the history.

[Vapors]

Originally Posted by momof1in150

I ended up with a new account number for my BOA LL Bean Visa because someone stole the number and tried to use it on a lot of junk. They reissued the card under a different number. It only shows up on my credit report as one account with the original account history. If it showing up as two different accounts I would dispute it with the Credit Bureau.

That's a good idea, thanks. I will check my credit again soon and see how it shows up.

Thanks again for all the replies.

[shopgirl]

That's really helpful, thanks. I got a new card in the mail two days ago because of a security breech at a store I had shopped at months ago. I was wondering how it would affect my credit report- good to know that it probably won't!