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Reissued card = increase in AAoA!

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Anonymous
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Reissued card = increase in AAoA!

I don't think a thread exists about this so I figured I'd start one and share this experience since it could indirectly help others increase their AAoA significantly and quickly due to a bank error or oversight.  Buried in another thread I mentioned this and several members were surprised by it so here's what happened.

 

My oldest CC of about 15 years over the course of that 15 years was reissued 4 times as "card lost or stolen."  I think I legitimately lost it once and the other 3 times the bank closed the card because it "had been compromised" or whatever.  Of course at the time I found it irritating as I had to get the new card, redo my automatic payments online with the new expiration number, etc.  Anyway, it turned out to be a blessing in disguise.

 

When looking at my credit reports recently, of course this CC account shows up 5 times on my report as expected.  In going through each one however, I noticed something that turned out to be pretty awesome:  ALL 5 entries on the report show the account originiation date of being 15 years old when the ORIGINAL card was issued!  So while I should have just had a single 15 year old credit line impacting my AAoA, I instead have 5 accounts with 15 year weight factoring into my AAoA which obviously is a significant positive impact.

 

I certainly know that this is an abnormal case and that I really lucked out.  The card was through a local credit union that's been around for about 25 years; I'd imagine the chances of this happening with one of the huge CC companies out there is significantly less.

 

Anyway, if anyone has ever had a card lost or stolen or replaced for any reason, I'd strongly suggest taking a look at your credit report and seeing how the closed (and new) card is reported.  If I had realized back then what I now know was going on I would have made sure to "lose" the card a few more times; unfortunately it's now closed so I don't have the ability to do that.  If anyone notices the same thing I did on one of their current accounts that's pretty old, or positively impacting their AAoA, it might be worth it to request to have a new card issued to see what happens Smiley Happy  It's not often that you find a "bank error in your favor" outside of board games, so definitely take them when you can get them!

Message 1 of 4
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Anonymous
Not applicable

Re: Reissued card = increase in AAoA!


@Anonymous wrote:

I don't think a thread exists about this so I figured I'd start one and share this experience since it could indirectly help others increase their AAoA significantly and quickly due to a bank error or oversight.  Buried in another thread I mentioned this and several members were surprised by it so here's what happened.

 

My oldest CC of about 15 years over the course of that 15 years was reissued 4 times as "card lost or stolen."  I think I legitimately lost it once and the other 3 times the bank closed the card because it "had been compromised" or whatever.  Of course at the time I found it irritating as I had to get the new card, redo my automatic payments online with the new expiration number, etc.  Anyway, it turned out to be a blessing in disguise.

 

When looking at my credit reports recently, of course this CC account shows up 5 times on my report as expected.  In going through each one however, I noticed something that turned out to be pretty awesome:  ALL 5 entries on the report show the account originiation date of being 15 years old when the ORIGINAL card was issued!  So while I should have just had a single 15 year old credit line impacting my AAoA, I instead have 5 accounts with 15 year weight factoring into my AAoA which obviously is a significant positive impact.

 

I certainly know that this is an abnormal case and that I really lucked out.  The card was through a local credit union that's been around for about 25 years; I'd imagine the chances of this happening with one of the huge CC companies out there is significantly less.

 

Anyway, if anyone has ever had a card lost or stolen or replaced for any reason, I'd strongly suggest taking a look at your credit report and seeing how the closed (and new) card is reported.  If I had realized back then what I now know was going on I would have made sure to "lose" the card a few more times; unfortunately it's now closed so I don't have the ability to do that.  If anyone notices the same thing I did on one of their current accounts that's pretty old, or positively impacting their AAoA, it might be worth it to request to have a new card issued to see what happens Smiley Happy  It's not often that you find a "bank error in your favor" outside of board games, so definitely take them when you can get them!


Nice bit of luck there! I lost my wallet about two years ago, so my Cap One cards were replaced, but they did not close out the accounts and open new ones - at least not on my reports. They just changed the account numbers.

Message 2 of 4
Anonymous
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Re: Reissued card = increase in AAoA!

Gotcha.  So in your situation those cards are only shown once on your reports, correct?

 

I lost a care credit card as well and had it reissued and those two entries show the same "account opened date" with the first one being "closed" after a year and a half when the card was lost.  I guess in this example the single account is being counted as two with respect to AAoA as well.

Message 3 of 4
Anonymous
Not applicable

Re: Reissued card = increase in AAoA!


@Anonymous wrote:

Gotcha.  So in your situation those cards are only shown once on your reports, correct?

 

I lost a care credit card as well and had it reissued and those two entries show the same "account opened date" with the first one being "closed" after a year and a half when the card was lost.  I guess in this example the single account is being counted as two with respect to AAoA as well.


Yes, nothing changed at all on my reports. They just sent me new cards with new numbers.

 

Message 4 of 4
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