I check all my credit accounts at least weekly and maintain a hardcopy in a notebook to keep track so I am aware of the activity. I had a card that in the last two weeks showed activity charges from sites I don't know or purchase from. Luckily, the amounts were small and I caught them just as they posted on the account. On the second occurrence, as I hoped the bank offered to cancel the card to remove access to whoever was using the card and issued me a new card on the account. Right now it shows on my credit report as a closed account but I will/have a new account that is on its way to me to be activated once I have it in my possession. How does this affect my credit score? I had to do this because of the fraud charges. I don't wait any more when I see fraud activity and I use two-step sign-on on any accounts, so I know this has to be due to the Yahoo and Experian Hacks which is still cycling the Dark Web. I have credit monitoring that tells me whenever my email or any of my information shows up on it. Can anyone clarify this situation?
I don’t think I can give you a clear answer. I’ve had the same thing happened to me, and as far as I can remember, my credit report never showed a closed account. Whatever the bank did in giving me a card with a new number was not reported on my credit report. Once you have established the new account and received your replacement card, you may want to wait a couple of weeks and then check your credit report again. If it’s still reported as a closed account with a new account, you can call the card issuer and ask why they did that.
closing one account and opening a new account should not have that much affect on your credit score. Mainly, it would slightly reduce the average length of your open credit history which is a small part of the credit score.