Credit Cards

[FicoPower]

I will try to make this story short and get straight to the point. I was qualified to receive a new GE Care Credit card. It went to my other mailbox (I have two mailboxes), and when I told their support that I haven't received the card yet, they said they cancelled that card and will send me another one. So I get my new card, all is fine, but I check my credit report and I see two GE Care Credit accounts. One is the one that was closed for being lost or stolen card, and my current one. MyFico displays a message that I have too many new accounts. GE Care Credit is the only one I applied for. I tried to get GE Care Credit to remove the lost or stolen account from my report and they said they will not. I created a dispute with TranUnion, awaiting results, and called Equifax to do an over the phone dispute and they said they can ask GE Care Credit to remove it but that is all. I am sure nothing will be done. The GE Care Credit manager said that it shouldn't have a negative impact on my credit report though and will be removed in seven years. Is she correct about it not having a negative impact? Because I planned on refinancing my house next month. My FICO score is currently 756 and I expect it to increase after I pay off the GE Care Credit.

[SwiftTone]

It will have a negative effect on your report. 2 new accounts will bring your AAoA down more than 1 new account. If you only agreed to open 1 account and they opened 2 without agreement, then you can dispute that. A new account is not the same as a new card. I was dispute it as much as possible.

What other accounts do you have?

[Revelate]

Depending on what plan you're going with regarding a refinance, the difference between 720 and 760 is likely irrelevant anyway and won't affect your offered rate at all in that case.  I don't think you have a lot of options in this case, and frankly you're gold plated anyway especially if that Beacon 5.0 score of 755 is w/Care Credit balance reporting and that swings your utilization rate by some non-trivial amount.

I absolutely would not dispute it though (or continue to do so in this case); having any tradeline in dispute can be problematic in all sorts of ways when it comes to loan origination.

[FicoPower]

Hello, I already disputed it before I read your replies. I didn't know that disputes show up to creditors? I just paid $3000 to pay off the card so if MyFico Future is accurate it says my future score should be around 830 after paying it. I only left a balance on it since it was interest free for a year and I wanted to have as much money left over possible as I am unsure how much I have to pay in taxes this season due to me getting a new job and doubling my income.