lost credit card. effect on score?

Anonymous · ‎07-31-2008

My girlfriend (an authorized user) lost her card. This is my oldest card. I've closed the account, and requested a new card, but I was wondering if this counts as opening a new account.

Will it have an effect on average credit length, and as such reduce my score?

Thanks.

MattH · ‎07-31-2008

@Anonymous wrote:
My girlfriend (an authorized user) lost her card. This is my oldest card. I've closed the account, and requested a new card, but I was wondering if this counts as opening a new account.
Will it have an effect on average credit length, and as such reduce my score?
Thanks.

Not to worry, the history will transfer to the new card so you'll keep the account age.

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
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it

smallfry · ‎07-31-2008

Make sure you get hold of all three reports from the CRA's themselves to verify this is being reported correctly.

RobertEG · ‎07-31-2008

Yup, Smallfry, you hit the nail on the head

All kinds of procedures and rules exist for handling such a situation.But rules and proceduare 'oft dont assure reality.

In the end, what goes to the CRA depends upon the fingertips and keyboard accuity of the data entry clerk who files the next report with the CRA

Did they understand what happened? Did they enter the correct data in the correct field in their report to the CRA? Was their coding correct?

Anonymous · ‎08-01-2008

Assuming everything reports as it should, you will show a new account (new as in different, but not new in regards to the age). That new account will inherit the history of the original account, and will show the same open date.

The old account will be marked as "Lost or stolen card" and it should drop after two years.

smallfry · ‎08-01-2008

When my Penfed card was cloned last year and the account number had to be changed TU kept my history but only listed the new card on my reports. EX and EQ show the old card as lost/stolen. Funny how these CRA's can all get the exact same info and put their own twist on it.