Lost or stolen CC reporting..

[remarc]

I had a 53rd Credit Card that I lost over 2 years ago and yesterday out of the blue the company posted it to my Credit report that it was lost or stolen... How does that happen??

Will it have any affect on my credit score? Should I ask them to remove it?? Why after two years have they reported it? 

On another note.. I just refinance my car for amazing 6% APR , with Nationwide, previous APR was 21% .. Super happy but.. How will this affect my score? next month is my 6 month mark on my Citi card and im really hoping with all the usage and PIF ive been doing for 6 months they will give me a CL increase.. This is a soft pull right? Will the fact that I have a 3 HP over this month due to the refinance have effect on a possible CL??? My scores have increased from the time I opened Citi but not a great deal.. How does that soft pull work when they check for CL??

Many thanks people 

Marc

[Crashem]

Lost/stolen cards should be marked as such on credit report. This trade line will be ignored by fico scoring model. A duplicate line should be created on credit report that matches old line with the expection of account number. The old line from the lost/stolen card will drop off quickly enough. Worth double checking your reports to verify that everything is done correctly.

[remarc]

I understand that... the odd thing is the card had already posted to my Experian  and TU report two years ago and then yesterday is reports to my EQ ? the original card had been replaced and posted to all 3 reports two years prior 

[llecs]

Yea, that's kinda weird. Normally it'll report as lost/stolen with an immediate balance to $0 and typically that old TL will remain for two years tops. I had a couple of cloned CCs that did that anyway. The new CCs will report with the org. open date. FICO will score both though. That's why you'd never want to lose all of your newer CCs. It'll impact AAoA a good deal.

If the new 5/3rd had already been reporting, and the old hurts AAoA, then I'd ask them to delete.

[Crashem]

Llecs, if cards are lost/stolen on marked as such on credit report, fico takes it into account? Thought it didn't. Recently lost my wallet so concerned.

[llecs]

FICO still scores the lost/stolen CCs. There was a mod here who had 7-8 CCs lost or stolen while on vacation. Very quickly the CCs reported as lost/stolen and new ones reported. Unfortunately her AAoA took a hefty beating for the time they reported. Definitely don't want to lose your newest CC. One thing I am uncertain about is how the payment history is treated. I think CCCs will delete that history prior to issuing a new CC (with the old history merged in). I lost an Orchard, and had a BofA and WF stolen, but all had a good history.

ETA...I should clarify that the reason behind the AAoA drop wasn't because it had a new open date. It dropped because these were her newer accounts. The new TLs preserved the org. open date.

[Crashem]

Interesting. I would think someone could abuse this by "losing" some old cards. Whoops there goes my 25 year old card again.

[llecs]

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@Crashem wrote:
Interesting. I would think someone could abuse this by "losing" some old cards. Whoops there goes my 25 year old card again.

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Ahemmm...every now and then we'll get a poster who advocates this and somehow, someway, their post magically disappears. Not directing that throat clearing at you, but to others who might want to capitalize publicly on it.

[Crashem]

Luckily for me, lost mostly old cards. Although even the 2005 card will hurt my aaoa. Out of new cards: one doesn't report. One is really new. Rest are backdated amexs that all report as 1989. So have to do calculations how I made out. My aaoa was almost 15 years so might get hurt a bit. No biggie though. I think over 10 years aaoa effects are nonexistent or highly reduced.