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jeffg330
Posts: 60
Registered: ‎05-31-2012
stolen credit card affect on mortgage app

‎09-28-2012 01:31 PM

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

Dec 2012 homeowner at last!

Starting Score: EQ 609 EX 570 TU 656 March 2012
Current Score: EQ 653 EX 671 TU 700 November 2012 lender hard pull
Goal Score: 700

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westo12
Posts: 495
Registered: ‎07-20-2008
Re: stolen credit card affect on mortgage app
[ Edited ]

‎09-28-2012 02:14 PM - edited ‎09-28-2012 03:44 PM

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. 

2013 Starting: 593 Scores: 617 (EQfico) 658 (EXvant) 640 (TUfico) | Goal scores: 700 - 19 pos TL's / 5 baddies (1 pd) / 40% reported util
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webhopper
Posts: 6,814
Registered: ‎09-16-2011
Re: stolen credit card affect on mortgage app

‎09-28-2012 02:32 PM

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 (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
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New Contributor
jeffg330
Posts: 60
Registered: ‎05-31-2012
Re: stolen credit card affect on mortgage app

‎09-28-2012 04:08 PM

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

Dec 2012 homeowner at last!

Starting Score: EQ 609 EX 570 TU 656 March 2012
Current Score: EQ 653 EX 671 TU 700 November 2012 lender hard pull
Goal Score: 700

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westo12
Posts: 495
Registered: ‎07-20-2008
Re: stolen credit card affect on mortgage app

‎09-28-2012 06:10 PM

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

2013 Starting: 593 Scores: 617 (EQfico) 658 (EXvant) 640 (TUfico) | Goal scores: 700 - 19 pos TL's / 5 baddies (1 pd) / 40% reported util
My Wallet: BofA 3k | Kay's 2k | Discover/AU 1.5k | Walmart 1k | Emblem 809 | Amazon Store 700 | Paypal BML 600 | Citi/Goodyear 500 | Chase 500 | FPB 425 | Capital One 320 | Target 300 | Capital One 300 | FPB 300
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webhopper
Posts: 6,814
Registered: ‎09-16-2011
Re: stolen credit card affect on mortgage app

‎09-28-2012 07:16 PM

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 (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!


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