Does a Lost / Stolen Card line hurt your score?

[MrSpock]

Hello all,

Working through our credit report trying to understand what's what and fix things that are erroneous. In addition to the old collection that I posted about previously, there is an entry for a Best Buy card that we had a few years ago that HSBC closed due to inactivity. When we realized this, we opened another card and have been using that one since. However on the credit report, this closed card is listed as Lost / Stolen. Does this matter and should I bother trying to get it fixed?

Also, about a year ago, my wife and I consolidated our student loans. So our CR shows several closed accounts with the old lenders plus the consolidated account with the new lender. Does this potentially help or hurt us?

Finally, my wife and I are closing on our first house on the 28th. Afterwards, I am looking at potentially buying a new car and financing some new furniture for the house. Does the home-loan adversely affect my credit? Would it help to wait a few months before applying for the car / furniture loan?

Thanks!

[MrSpock]

anyone?

[sl]

I have a credit card on my CB listed as lost/stolen which it was.  As the time, it happened, I did have a late pay fo 30 days on it.  When I reported the card lost, I got a new card and the 30 day late payment transferred to the new account along with the balance.  So if it is listed as lost/stolen it has no affect on your cc - it just gets transferred to the new one if you open it and that did not drop my score.

As far as the student loans - if they are paid, they have no impact on your score and will stay on your credit history for 10 years but baddies will come off in 7 yrs.

Message Edited by sl on 06-15-2007 02:24 PM

[Anonymous]

i was wondering the same thing myself...It shows up on my report as another account, even though it was lost/stolen. So I don't know what the deal is. IT definitly shows up as an additional account, and I wonder if that is hindering me.

[sl]

does it say lost/stolen next to if...if so, it should not hurt your credit.

[Tuscani]

Lost\Stolen has no impact on your scores.