There are a few occurences of "lost or stolen" cards reported on my credit report. I have the following questions: (FYI, there was never any fraud on these lost cards, balances were transfered to a new account number with the creditor. Equifax notes it as R1 status). 1. Do these negatively affect the report/score? 2. Is there a mandated or standard time limit for reporting these (Experian report says they are scheduled to continue on record for 2 years, but they get re-reported every month by the creditor with the current date. And Experian shows date of status 11/99 AND last reported 11/99. The actual dates when these became lost status are 11/98 and 10/99). 3. If these accounts have a $0 balance (because the entire balance was transferred to a new number), should I make Experian record it as $0 balance instead of NA/? 4. The account in question has been transferred to new creditor. Even though the card loss occurred well before, the new owner of the debt is still re-reporting the lost/stolen accts. each month. 5. Related to #4, how do I take care of duplicate reporting. Experian is reporting the identical accounts twice (once for old creditor, once for new creditor). 6. A negative tradeline is showing that credit limit NA/ thing. It was my very first credit card, $500 limit. But for all the reader might know, it could have been a big bucks account that I let go sour. Should I dispute to get the lim. reported? Please give your insight. After all, I need a reason to join C.H.O.D.!
I don't think so, but I'll defer if anyone says different. It does clutter the report though and if it's going through a manual review, the creditor may take notice of it. Experian was very responsive after disputing with the reason of past 2 yrs for lost/stolen reporting. Equifax took two or three letters to get it done. And Trans Union has only taken off 1 of 2 lost cards after three or four letters. They don't seem very responsive to the 2 year limit dispute reason.
