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Affect of "Lost or Stolen" CC

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GolfNut
Established Member

Affect of "Lost or Stolen" CC

I had a "lost or stolen" cc, and I see that I now have a closed account shown as "lost or stolen", and an active account (total of 2 accounts listed now).

 

What affect does this have on scoring?  Does the AAoA go up because both accounts are shown with the original opening date?  Or, does a cc account with the lost or stolen status not count towards AAoA?  Do I potentially get dinged because my total number of accounts goes up by 1?

Message 1 of 4
3 REPLIES 3
MattH
Senior Contributor

Re: Affect of "Lost or Stolen" CC


@GolfNut wrote:

I had a "lost or stolen" cc, and I see that I now have a closed account shown as "lost or stolen", and an active account (total of 2 accounts listed now).

 

What affect does this have on scoring?  Does the AAoA go up because both accounts are shown with the original opening date?  Or, does a cc account with the lost or stolen status not count towards AAoA?  Do I potentially get dinged because my total number of accounts goes up by 1?


In my experience, there is no negative effect because when the new account number starts reporting it inherits the history from the old one, and the FICO scoring algorithm does not count the old account.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
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Message 2 of 4
Anonymous
Not applicable

Re: Affect of "Lost or Stolen" CC


@GolfNut wrote:

I had a "lost or stolen" cc, and I see that I now have a closed account shown as "lost or stolen", and an active account (total of 2 accounts listed now).

 

What affect does this have on scoring?  Does the AAoA go up because both accounts are shown with the original opening date?  Or, does a cc account with the lost or stolen status not count towards AAoA?  Do I potentially get dinged because my total number of accounts goes up by 1?


It shoud not affect your scoring.  My card # was stolen this spring and the thief maxed it out in two weeks.  When I discovered the theft, I reported it and got the money credited back to my account, and a new card # was issued. The money was missing for almost a month before all the paperwork was done. I saw no impact at all on my FICO scores.

Message 3 of 4
RobertEG
Legendary Contributor

Re: Affect of "Lost or Stolen" CC

Wait and see how the creditor reports the account after it is reopened with a new account number.

I even had the very fortuate experience earlier this year of having a stolen card that was reissued with all of the original account information, except that that did not transfer the old lates over to the new account.  So I actually gained points.

Just check out the new account when it starts reporting.

Message 4 of 4
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