Internet Fraud

A relative had over $3600 fraudulently charged to a Capitol One credit card she had never used (she had *never* given out this number for anything, so we're still trying to figure out how this fraud happened). - A few weeks later, the matter has been resolved with the credit card company, but her APR on this card showed an increase of several percentage points (even thought she still hasn't used the card). - Can fraud (even resolved fraud) hurt a person's credit and/or cause rate increases like this? And if so, what can be done about it? - Thanks.

it wouldn't surprise me since the credit industry writes the legislation that our so called congressmen vote on. the bankruptcy bill passed a couple of years ago by the republicans changed a bunch of things that the credit card companies can do.

If you go over your credit limit, you are penalized by having your APR jacked up. Contact Capital One and explain that it went over due to fraud, and that the charge was verified fraud. Demand that they lower your score. If the don't I suggest not using the card and get another one. There are dozens of companies out there anxious for your business, don't let these guys push you around.

As long as her credit score didnt go down, and she didn't miss a payment, it should not be effected. Have her check her score and make sure its okay, and then have her call the credit card company and make sure that it didnt go down for a fraud-related-reason.

They need to call their credit fraud department again and have them resolve the issue. If they will not just let them know that you will close the account and use another card. Which, btw, is what one should do if they refuse to resolve the matter. Also, have them check their credit and make sure this has not been added to you credit history. If it does show up on their credit report they need to call the credit card company involved an tell them they need to remove it immediately. Unless they can prove it, they HAVE to remove it within in a set time period-I think 90 days. They need to check their credit history routinely as things like this have a habit or erroneously being put back in as bad debt. You can get a free credit report from each of reporting companies each year. You can check one report each 4 months so that you can see changes 3/year for free.

why on the earth u wanted these cards when u are okay without it. U did not use it, somebody did fraud and u r penalised. U wanted to deal with such banks. Thjrow them in the gutter and send a legal notice.

Yes..it harms one's credit...