Mortgage Loans

[jeffg330]

We were days away from making offer on a home after 7 months of successfully repairing my credit. Someone got a hold of my credit card # and maxed it up to it's $1,000 limit. After assurance from CC company (applied bank) that we would be reimbursed for all fraudulent charges I went ahead and paid it down to 9% as the reporting date is 10/2.

My question is now that I'm being issued a new card (CC Company used term new account) will that effect my average age of credit? Will it appear as a new account?  will my credit report show the stolen account as closed? I asked the credit card CSR these questions but could tell she didnt understand what I was asking her.

Ty for any input

[westo12]

Earlier this year, my replacement card for a lost/stolen bofa card (opened in 2008) was reported as a new account/new #, but date opened was the same as the original.  I didn't lose any points because of the change, in fact, I think it added to my aaofa because it looked like I had two cards going back to 2008.  However, it all depends on how Applied Bank reports that new line. 

[webhopper]

In my experience with discover it did not appear as a new account. Since it was opened in 1999. They wont see it as seeking credit because you did not get a credit.inquiry

[jeffg330]

Thank you for the responses. Do you remember about how long it took to get the red flag removed from the account? We'd like to get the house under contract and start the loan application as soon as its cleared up!

ty

[westo12]

I don't remember having a red flag on mine at all.  Sorry.

[webhopper]

Nope... there will be no red flag. When the creditor says they will flag your account... it means they will flag in in their system so that it stops being g accepted when the thief tries to use it