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Valued Member
hstone
Posts: 39
Registered: ‎08-17-2007
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Lost or stolen card
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‎11-12-2007 10:58 AM

Why would a lost or stolen card hurt your credit?  If the payments are not late why does it matter?  I just don't understand why this would have a negative impact on your credit score.  Does anyone no how much of an impact this mark has?
 
 
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Moderator Emerita
haulingthescoreup
Posts: 28,095
Registered: ‎04-01-2007
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Re: Lost or stolen card
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‎11-12-2007 11:00 AM

Are you sure that it does? My 19-year-old has one listed as one of her accounts, along with the current active replacement card, but none of the three FICO scores and reports mention it as being a negative.

They just note its existence on the accounts page.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Moderator Emeritus
fused
Posts: 16,382
Registered: ‎03-12-2007
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Re: Lost or stolen card
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‎11-12-2007 11:15 AM


hstone wrote:
Why would a lost or stolen card hurt your credit?  If the payments are not late why does it matter?  I just don't understand why this would have a negative impact on your credit score.  Does anyone no how much of an impact this mark has?
 
 


Having a notation on one account as stolen/lost in and of itself will not have any negative affect on your scores. My only concern is that when the CCC replaces the stolen/lost CC with a new account number, that they report this new account number as having an open date from the time the original card was opened and not today's date. If the CCC doesn't do it this way, your credit file will re-age and your scores would then take a hit.
Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
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