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Lost card, Closed account, credit report

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kogama
Valued Member

Lost card, Closed account, credit report

Ok I typed everything out originally but it was way too long so here is the short version.

 

If I mark my card lost/stolen I get a new account number. Does this mean on my credit report I now have that account in closed form and open form?

 

In the past my discover card was closed because I caught someone trying to make big purchases on black friday (I didn't go buy anything that day) and so they marked it lost and opened up a new account. This resulted in 1 closed account reporting on my credit report. 

 

Will this happen again if I report a card lost/stolen?

 

ex: 1 closed discover 1 open discover, 1 closed Citi, 1 open citi? how will this effect my credit report?

Message 1 of 8
7 REPLIES 7
john398
Senior Contributor

Re: Lost card, Closed account, credit report

I think it depends on the issuer, some will rpeport lost/stolen others will just replace the number online to the new number

Message 2 of 8
Anonymous
Not applicable

Re: Lost card, Closed account, credit report

+1
Message 3 of 8
mirachi
Regular Contributor

Re: Lost card, Closed account, credit report

My experience with both chase and citi is that they'll replace the existing account on your credit report with the new account

Last app 5/7/2014

No apps until 3/31/2016!
Message 4 of 8
Ghoshida
Valued Contributor

Re: Lost card, Closed account, credit report

I was given a replacement card by my credit union on the suspicion of fraudulent charges.

 

Both cards are on my credit report, the old card shows as closed / card lost or stolen / never late till the month that it was replaced. The new card reports as open from the open date of the old card but amounts show only from the month when the change actually happen.

 

One of the credit reports mentioned that the old card is supposed to stay on report for 2 years since reported lost. I do not know if it is universal policy across credit bureaus. 

Message 5 of 8
NoAnchoviesPlease
Established Contributor

Re: Lost card, Closed account, credit report


@kogama wrote:

 

 

ex: 1 closed discover 1 open discover, 1 closed Citi, 1 open citi? how will this effect my credit report?


Sounds like many issuers will report the new account as aged from the original card's issuance. In which case, it might even help your AAoA but not sure about that. Worst case, it shouldn't hurt you. 

12/29/2015 669/696/706
01/10/2016 698/711/730 but still to and fro a bit

Climbing to 700 and beyond. It's too cold for gardening.
Message 6 of 8
Kenny
Moderator Emeritus

Re: Lost card, Closed account, credit report

Sam's did this crap to me. I wasn't happy about it.
Message 7 of 8
JustMe77
Frequent Contributor

Re: Lost card, Closed account, credit report

Bank of America reported 2 accounts on my reports when this happened to me. I think it did hurt me because there was a late payment on one account, and it showed up on 2 accounts. It should have helped me with AAoA but I added up the numbers and I don't think it actually did. So...I don't know.  Kind of a mess actually.

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)
Message 8 of 8
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