Hammer,

Thank you for warning us about this.

My advice is to watch your replacement credit card's billing - I have found out that most credit cards will put the recurring electronic billing charges to the new card (replacing the cancelled one). You may be forced to dispute those charges every month, and have to contact the charging company to stop this fraud.

A few years ago I had my credit card stolen and promptly canceled it and replaced with a new one (new number). and someone had billed their 5 AOL accounts to it. While the 1st month' charges were only $125, the following month they started billing the remote access (AOL used to charge per minute), to the tune of $300-400 per acct per month. I would dispute one month's charge only to see a new month's bill with even more charges. In total I had nearly $60,000 in these fraudulent charges, until I finally got through to AOL and got them to reverse the charges. In the process I had to file an Internet fraud form with FBI, and have a long and fruitless argument with AmEx about the merits of canceling a lost card if they are going to carry over and approve the electronically posted charges on the replacement one anyway.

Good luck