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Regular Contributor
jeffg330
Posts: 172
Registered: ‎05-31-2012
0

stolen credit card affect on mortgage app

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



Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08
Current Score: EQ 691 EX 694 TU 713
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Established Contributor
westo12
Posts: 579
Registered: ‎07-20-2008
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Re: stolen credit card affect on mortgage app

[ Edited ]

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. 

2014 Starting-618, current TU636/EX653/EQ600 (WalmTU 8/13,Prosper, CLI decline ltr) / Ending Goal score: 720 - 25 pos TLs / Baddies: 1 unpd $312 med CA, 1/30 day auto late on 9/1/12 /reported Install Bal/Lim: 17885/28512 | reported Revolving Bal/Lim: 10055/21082=49%util.

**IN the garden until I get some auto CLI's on major accts**
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
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Re: stolen credit card affect on mortgage app

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

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Regular Contributor
jeffg330
Posts: 172
Registered: ‎05-31-2012
0

Re: stolen credit card affect on mortgage app

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



Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08
Current Score: EQ 691 EX 694 TU 713
Goal Score: all 3 700's.
Quicksilver $5000 Discover IT $1500 Barclays NFL $1250 Walmart $1500 CL Applied Bank $300 (secured)

Take the FICO Fitness Challenge

In the Garden till 12/14
Established Contributor
westo12
Posts: 579
Registered: ‎07-20-2008
0

Re: stolen credit card affect on mortgage app

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

2014 Starting-618, current TU636/EX653/EQ600 (WalmTU 8/13,Prosper, CLI decline ltr) / Ending Goal score: 720 - 25 pos TLs / Baddies: 1 unpd $312 med CA, 1/30 day auto late on 9/1/12 /reported Install Bal/Lim: 17885/28512 | reported Revolving Bal/Lim: 10055/21082=49%util.

**IN the garden until I get some auto CLI's on major accts**
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: stolen credit card affect on mortgage app

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

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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