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Speaking of lost/stolen credit cards

Frequent Contributor

Speaking of lost/stolen credit cards

So, Bofa Closed my account 5/2012 & issued a new account due to "security issues" on their end. The new trade is there, but so is the old one, does this affect my score? Should I request it removed? The history of the new trade is backdated t the closed line, as I think it should, but the old trade stopped at 9 mos. when it closed.

Does this make a difference in reviewing my credit to lenders?

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


13 REPLIES
Established Contributor

Re: Speaking of lost/stolen credit cards

The old account is just one more positive tradeline. One more account to put you closer to a higher FICO bucket. One more account to help with your AAoA. Plus, you new card has been given the same old account history. I see nothing but positve here.

Moderator

Re: Speaking of lost/stolen credit cards

I don't know; I have the same issue with mine.  

 

I do think it's a little suspect and I'm not certain that in my case the short tradeline is beneficial, but I don't think there's much I can do about it and it does report as a positive account in my case.  I think if it were a negative account, I'd take exception to it, but as it stands think I'll simply leave it as a future AAoA buffer.  It's incredibly easy to recon away if it ever comes up in a manual underwriting review, and if it happened to both of us, statistically there's a bunch of other people in this category too.  

 

Have to admit, if I'd had this happen on something like a positive 3+ year tradeline, I'd be dancing with delight, but right now it's probably not hurting me much if at all, so I'm not really concerned about it.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Contributor

Re: Speaking of lost/stolen credit cards

Although having two lines reporting will only help, I have to disappoint you that the old line will disappear within a year. At least, that was the case in my experience. I reported the card as stolen, they issued a new one, but I never received it, then I called and they issued another one. So I had three accounts reporting of the same credit line. I wish they didn't disappear, but they did.

 

Btw, this is the case only with BofA. With other creditors, the account number just change on the credit report.

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Frequent Contributor

Re: Speaking of lost/stolen credit cards

I will, of course, continue to monitor it. This was a huge portion of Bofa's cards that was affected so I know I am not alone. This is just the first CC company I have seen mentioned in this forum that has (2) trades reported for so long (6+ mos). Thanks for the replies!

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Moderator Emeritus

Re: Speaking of lost/stolen credit cards


johnnie198x wrote:

Although having two lines reporting will only help, I have to disappoint you that the old line will disappear within a year. At least, that was the case in my experience. I reported the card as stolen, they issued a new one, but I never received it, then I called and they issued another one. So I had three accounts reporting of the same credit line. I wish they didn't disappear, but they did.

 

Btw, this is the case only with BofA. With other creditors, the account number just change on the credit report.


 

This must be another YMMV sort of thing. I have a Cap1 Visa that goes back to 1999. In the mid 2000s, the card was lost. They changed the account number for security reasons and issued a new card. To this day, both accounts show on my reports, with an opening date of 1999. Maybe the old account number will fall off when it reaches 10 years (added for clarification: 10 years since last activity), but until then it's helping my AAoA.

 

To the OP -- if the additional account does stay on your reports for many years, you will be grateful down the line.


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Frequent Contributor

Re: Speaking of lost/stolen credit cards


tinuviel wrote:

johnnie198x wrote:

Although having two lines reporting will only help, I have to disappoint you that the old line will disappear within a year. At least, that was the case in my experience. I reported the card as stolen, they issued a new one, but I never received it, then I called and they issued another one. So I had three accounts reporting of the same credit line. I wish they didn't disappear, but they did.

 

Btw, this is the case only with BofA. With other creditors, the account number just change on the credit report.


 

This must be another YMMV sort of thing. I have a Cap1 Visa that goes back to 1999. In the mid 2000s, the card was lost. They changed the account number for security reasons and issued a new card. To this day, both accounts show on my reports, with an opening date of 1999. Maybe the old account number will fall off when it reaches 10 years, but until then it's helping my AAoA.

 

To the OP -- if the additional account does stay on your reports for many years, you will be grateful down the line.


Thanks Smiley Happy

Just trying to see if it's hurting anything. So far, so good.

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Frequent Contributor

Re: Speaking of lost/stolen credit cards

oh yeah, forgot to ask this part:

the original, now closed (due to lost/stolen) is still reporting "secured" since the account issued happened prior to my account graduating - will "secured" look bad? Should I now ask to get it removed? If the "secured" tag causes more damage to my overall profile than the AAoA is helping, it's kind of a no brainer right?

 

 

 

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Valued Contributor

Re: Speaking of lost/stolen credit cards


QAMngrGirl wrote:

oh yeah, forgot to ask this part:

the original, now closed (due to lost/stolen) is still reporting "secured" since the account issued happened prior to my account graduating - will "secured" look bad? Should I now ask to get it removed? If the "secured" tag causes more damage to my overall profile than the AAoA is helping, it's kind of a no brainer right?

 

 

 


Don't think the "secured" tag means much from a FICO perspective. MIght raise questions during manual review, and at that point you can always explain what the deal was.

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Established Contributor

Re: Speaking of lost/stolen credit cards

GE has the annoying habit of listing your lost/stolen card as closed and the replacement as a new account.  It's very annoying.  They did this to me twice for my WM Discover and my Amazon account.  Now I have both closures listed on my credit report as "potentially negative".