topic Re: Lost or Stolen Credit Cards reported in Understanding FICO® Scoring

Lost or Stolen Credit Cards reported

QAMngrGirl — Mon, 28 Jan 2013 17:49:10 GMT

How do these tradelines affect your score? If at all? Do lenders view these as irresponsibility on your part?

Re: Lost or Stolen Credit Cards reported

Anonymous — Mon, 28 Jan 2013 17:58:00 GMT

It will show as a duplicate for the new card you get, if you did. Both will count against you.

The lost/stolen one should fall off fairly quickly.

Re: Lost or Stolen Credit Cards reported

QAMngrGirl — Mon, 28 Jan 2013 18:09:05 GMT

The first (closed) line opened 8/2011, was closed 5/2012 by BofA, and still reporting (closed, reported lost/stolen)

The new line was opened 5/12 but backdated to 8/2011 when I opened the first one.

I know I am not the only BofA consumer this has happened to, they closed the account due to security issues on their end - not reported lost/stolen by me.

Just wondering if I should ask them to remove the old one, since both trades are reported as opened the same date. I am getting some conflicting answers as to whether or not this trade line is affecting my credit profile, and now I am confused

Briefly discussed prior here:

Re: Lost or Stolen Credit Cards reported

Anonymous — Mon, 28 Jan 2013 19:03:50 GMT

Does it show a balance? If it had any lates, do they show?

I would ask for the old one to be removed.

If the new one was backdated, and had no lates, it shouldn't hurt you. If there was lates, then they carryover and will also hurt.

Re: Lost or Stolen Credit Cards reported

QAMngrGirl — Mon, 28 Jan 2013 19:47:23 GMT

@Anonymous wrote:
Does it show a balance? If it had any lates, do they show?

I would ask for the old one to be removed.

If the new one was backdated, and had no lates, it shouldn't hurt you. If there was lates, then they carryover and will also hurt.

Nope, no lates or any negatives on any account I have

Re: Lost or Stolen Credit Cards reported

Anonymous — Mon, 28 Jan 2013 20:27:45 GMT

It shouldn't be hurting at all. I would ask to have it removed if you are worried about it.

Re: Lost or Stolen Credit Cards reported

llecs — Mon, 28 Jan 2013 20:49:57 GMT

The only impact would be to your AAoA and mix of credit. Your new CC will show the old open date, so if you happen to lose your oldest CC, then it'll help your credit actually. Lose a bunch of new CCs, and it can negatively impact your credit once/if the new ones report. And per mix it can't hurt, but can help your mix if that was your only CC, for example.

It should delete by 2 yrs, if not sooner.

ETA....lenders don't view them negatively. I had 2-3 reporting when we applied for a mortgage, with yet another about to report during the mortgage process due to a skimmed CC. They didn't care.