EQ score drop because I reported my card lost/stolen???

[Anonymous]

I seriously hate and and am confounded by the Equifax fico scoring system.  This week I reported my Care Credit card as lost because my mom refused to return my card and she is not an authorized user.  I paid this account off last Septmeber and did not want to risk her or my brother fraudulently using my account.  And now because of this my FICO SCORE dropped??????

Also my EQ fico score took a 6 point drop last December when my brother attempted to fraudently open a FIngerhut account in my name and the drop was a result of a hard inquiry.  I filed a police report, wrote Equifax,  and had FIngerfut remove the inquiry but my fico score never went back up.  

These things are seriously disturbing to me.

How is this even fair??

[Anonymous]

How do you know reporting the card lost is what caused the score drop?

[Anonymous]

Because the alert I got through myFico monioring had that account listed as the reason for the score change.  The status of the card went from "Paid As Agreed" to "Lost or Stolen Card" and my fico score dropped a point.  I am equally confused as to why that should change my fico score.

[Anonymous]

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@Anonymous wrote:

Because the alert I got through myFico monioring had that account listed as the reason for the score change.  The status of the card went from "Paid As Agreed" to "Lost or Stolen Card" and my fico score dropped a point.  I am equally confused as to why that should change my fico score.

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The alert had that account listed as the trigger event that caused the alert. The score change may have been caused by this account change, or it may have been caused by any number of other factors. 

[gdale6]

A lost/stolen account is not factored into any Fico calculations its as if the account doesnt exist, so there could be some points lost from utilization, AAoA and payment history. When you new account reports you may see some of those points recovered. As already stated not the entire loss could be attributed to this event.

[syeb]

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@gdale6 wrote:

A lost/stolen account is not factored into any Fico calculations its as if the account doesnt exist, so there could be some points lost from utilization, AAoA and payment history. When you new account reports you may see some of those points recovered. As already stated not the entire loss could be attributed to this event.

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I realize this is an old thread but gdal6's response hit it exactly. I was going crazy wondering why all three of my scores suddenly dropped from 25-30 points in one day. Then I saw it was the same day one of my cards was reported as lost.  Checking my credit reports I see that the old account, which was one of my older ones disappeared and the enw one was not added yet.