Will Changing Your Credit Card Number Impact Your Credit Score in Canada?

Have you lost your credit card? Did your bank send you a new one because of a hack or fraud? If so, you might be wondering: Will this switch impact my credit score?

Ultimately, no, a new credit card number does not hurt your credit score—as long as nothing else changes.

Let’s break it down in simple terms so you can feel calm and confident about your money.

First, let’s address why credit card numbers change. Sometimes, your credit card number changes because: 

• You lost your card, or it was stolen
• Someone used your card without your permission (fraud)
• A store or website you shopped at had a data breach
• Your card expired, and the bank mailed a new one
• The bank upgraded its security system

In most cases, your old account stays open. Only the card number, expiration date, and CVV (the 3-digit code) are updated.

Think of receiving a new credit card number like getting a new key to the same house. The house and all of its contents are still there; they’re simply safer now.

Does a New Credit Card Number Affect Your Credit Score?

No. Your credit score is not tied to your credit card number. It’s based on how you use credit over time.

Credit bureaus in Canada—like Equifax and TransUnion—track things like:

•   How often you pay your balance on time
•   How much you owe
•   How long have your accounts have been open
•   How much credit you’re using compared to your credit limit 

They do not track:

• Your full card number
• The CVV code
• The expiration date

Therefore, when your bank sends you a new card, the credit bureaus usually don’t even notice.

Your credit score is based on your financial behaviour, not on the replacement of your credit card. If you’re looking for ways to improve your credit score, check out our curated list of tips. 

When a Card Change Could Affect Your Credit Score

While changing the card number itself is safe, there are a few rare times when your score could be affected. Let’s look at those scenarios now:

1. If the Bank Closes Your Old Account

In serious fraud cases, some banks close the old account and open a brand-new one. This can slightly affect your credit score because:

• Your credit history gets shorter (new accounts lower your average age of credit)
• Your credit utilization (how much you owe vs. your limit) might change

But again, this is rare. Most banks keep your old account open even with a new card.

2. If Automatic Payments Fail

This is the biggest risk. Many people set up automatic payments for things like:

• Netflix or Disney+
• Phone bills
• Gym memberships
• Utility bills

If you forget to update your new card number, the payment might fail. A late or missed payment can hurt your credit score.

Tip: Update all auto-payments as soon as you get your new card!

3. If Your Credit Limit Goes Down

If your bank lowers your credit limit during the card replacement process, your credit utilization goes up.

For example:

• Old limit: $5,000
• Balance: $1,500
• Utilization: 30% (this is good)

But if the new limit is only $3,000:

• Balance still $1,500
• Utilization is 50%, which may lower your score.

So check your limit when the new card arrives.

Replacement Card vs. New Credit Card: What’s the Difference?

It’s important to know the difference:

A replacement card is like fixing your old phone. A new credit card is like buying a whole new phone — it adds something fresh to your record.

What to do After Your Card Number Changes

Take these 3 simple steps to stay safe and protect your score:

 1. Update Automatic Payments: 

Go through all your subscriptions and online accounts. Change the card number on file.

Do this for:

• Streaming services (Netflix, Spotify)
• Phone and internet bills
• Gym or app memberships
• Charity donations

This helps avoid late payments.

 2. Watch Your Statements

For the first few months, check your statements carefully.

Look for:

• Charges you didn’t make
• Missing refunds
• Old recurring bills that didn’t go through

If you see anything strange, call your bank right away.

 3. Check Your Credit Report

You can check your credit report for free in Canada, and the Government of Canada advises that you review your credit report at least once a year.

Make sure:

• The account is still listed as open
• Your payment history is correct
• No strange activity shows up

If something looks wrong, contact the credit bureau and your bank.

What About Fraud? Does That Hurt Your Score?

Fraud itself does not hurt your credit score if you report it quickly.

When fraud is reported promptly, banks typically:

• Remove fake charges
• Refund your money
• Send a new credit card with a new number

However, if you wait too long to report fraud, bad things can happen, such as:

• Missed payments (if fraud uses up your limit)
• High balances (which hurt utilization)

That’s why it’s important to check your accounts often and act fast if something looks off.

Does a New Card Reset Your Credit History?

No. Your credit history stays the same.

Your past payments, how long you’ve had the card, and your balance history are all tied to the account, not the card number.

So even with a new number, all your good credit behaviour still counts.

Will Your Credit Utilization Change?

Only if your credit limit changes.

If your limit stays the same and you keep the same balance, your utilization stays the same.

Example:

• Limit: $4,000
• You owe: $800 
• Utilization: 20% (great!)

As long as that doesn’t change, your score stays strong.

Should You Replace the Card or Just Close It?

Most of the time, replacing the card is better.

Closing a credit card can:

• Raise your credit utilization
• Shorten your credit history
• Lower your score slightly

Unless the card has a high fee or you don’t use it, keep it open. It helps your credit health.

Final Thoughts: Stay Calm, Stay Safe

Getting a new credit card number is not something to fear. It’s often a sign that your bank is protecting you.

As long as: 

• The account stays open
• You keep paying on time
• Your credit limit doesn’t drop

…your credit score will be just fine.

Just remember to:

• Update your automatic payments
• Check your statements
• Look at your credit report once a year

If you’re ever unsure, call your bank or visit a trusted site like FinlyWealth to learn more about credit.