Impact of Credit Card Cancellations on Credit Score

[MariaC12]

I just got my first credit card about a year ago. The bank has cancelled and replaced it twice due to credit card fraud. Will these cancellations impact my credit score?

Thanks for your input.

[Slug]

I doubt it, but I don't know for sure. You might want to get a fee free card that you will never use or only use 1x per year to keep it alive. That would have a low risk of ever being fraudulently used and would help to build your score.

[disneysteve]

I just got my first credit card about a year ago. The bank has cancelled and replaced it twice due to credit card fraud.

I agree that it shouldn't affect your score. They aren't cancelling your account. They are just changing your number.

I'd be much more concerned with why you've been the victim of fraud twice within a year on the same card. How did that happen?

If you haven't already, pull your 3 credit reports at annualcreditreport.com. Look for any other unusual activity. And be very, very careful about how you use your card, who you give that number to, etc.

[dh1989]

I just got my first credit card about a year ago. The bank has cancelled and replaced it twice due to credit card fraud. Will these cancellations impact my credit score?

Thanks for your input.

If they just cancelled/replaced the CARD but the account remains open, that isn't going to affect your credit report in any way.

If the account itself was closed and reported as such on your credit report, the only factors that could affect your score in this situation are:
-Average age of credit lines
-Credit utilization percentage

If you have only one credit line about a year old, close it and soon after replace it, that's not going to make a big difference on average age. Your utilization is going to be based on the credit limit vs. outstanding balance.