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by Mike98 on November 13th, 2004

Mike98

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Can reporting credit card fraud have a negative impact on your credit record?

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  • by Andy Is Wicked Married to Penal Colony on June 9th, 2005

    Andy Is Wicked Married to Penal Colony

    If you were legitimately the victim of credit card fraud or identity theft then the answer is no. However, just reporting the fraud is typically not enough. I read a report today that stated the victims of fraud will spend an average of 28 hours cleaning up the mess made of their credit report due to identity theft and/or fraud. You will need to follow up your report with whatever legwork is necessary to restore your good standing and what exactly that is will vary depending on your specific situation.

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  • by Gideon on January 5th, 2007

    Gideon

    Your credit should not be negatively affected by legitimate fraud. You'll want to fill out an Identity Theft Affidavit (usually available at your local police department) and file a police report. Once the credit bureaus receive copies of these, your credit should be reported normally.

    However, credit agencies are notorious for inaccurately reporting credit histories, so make sure you get your reports once a year so you can monitor your own credit.

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  • by jas on January 14th, 2009

    jas

    No, credit card companies are very quick to act on fraud alerts, and urge customers to report it. It has no affect on your credit in any way.

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  • by Novacaine on January 5th, 2007

    Novacaine

    Reporting the crime on your own will have someone watching you if their is ever a next time you report it again. =]

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