Originally Posted by
Section 107
Also, keep in mind that credit fraud frequently causes negative data on credit reports resulting in lower credit scores and higher interest rates. Credit card companies are not looking out for customers - doing so is against their own self interest.
There's a difference between credit fraud - using someone else's PII to apply for credit (or an account that pings the victim's credit report) and credit card fraud (when you steal someone's CC number and other information to make one or more unauthorized charges to the victim's card). In the former, the victim's credit history/score is tarnished and the victim has rights against the credit agency and the creditor who granted credit to the fraudster. In some cases, the creditor may be a bank or credit card company and they're required to do certain things when presented with evidence that someone fraudulently applied for credit with the creditor. In the latter (which appears to be the OP's case), credit card companies/banks don't negatively ping the victim's credit report when the victim calls the credit card company/bank and says "this is a fraudulent/bogus charge" (v. the former case "this is an account created by a fraudster using my PII").
Originally Posted by
MSPeconomist
With some credit cards, you don't need to supply the new number to various autopay accounts, so be sure to ask before manually updating information if the bank decides to issue a new credit card number.
See above, re: they just reverse the charge rather than doing something to assist LE, the cardholder victim with investigating further.
Sorry. Getting OT here in my comments. But, its an unfortunate situation and hopefully will not repeat itself.