In a recent thread, it came up that having "CREDIT CARD LOST OR STOLEN" was detrimental to your credit rating. I'm to the point on my credit that I'm starting to work on the little things that gain me 5-10 points here and there. If, in fact, having a credit card account showing as lost/stolen lowers your FICO score, I will try to figure out how to get that notation off (any suggestions??). If not, I'll leave it alone and move on to the next thing.
I was kind of wondering the same thing. I recently opened a Chase acct and right after opening it, I changed addresses. Well, the card didn't forward to the new address, so I called up Chase and they changed the acct # and sent me a new card. Even though I never saw the 1st card and didn't even know the acct #, it still shows up on my report as Lost or Stolen Card. The other thing - don't know if it's good or bad...it shows 2 months of paying on time, even though I never paid or had a balance on that card. I just made my first payment on the new acct # just this week.
ANYBODY LOOKING AT YOUR CREDIT REPORT WITH THEIR EYES AND SEES LOST/STOLEN---ASSUMES YOU LOST IT!!!! I had one lost in the US MAIL... They REFUSED to print "LOST IN US MAIL"..."We don't offer that"...so I complained every month for 6 months or so and they got TIRED OF ME AND HAD IT REMOVED!!! SCORE WISE...NOTHING...I THINK...ZERO POINTS
I think what I said was that a lost /stolen may lower your score. I don't remember where I heard that Merlin, but I did hear it from somewhere. Prolly just 5 pts or so.
i too would like to know if thats bad. i was an au on an account and we took me off that account. when i checked my credit report then i had 2 entries for the same card. one that was just saying i had the card and it was lost/stolen which is still on my CR. another that said i was the AU to the account. i disputed the account and they took off the AU entry and left the other one there that is said closed anyway. so im wondering if i should dispute the part that says lost/stolen because it wasnt lost/stolen. i was taken off the account. the account is still open now but not with me on it. i dont want to risk a positive tradeline though being deleted. could i just dipute the lost/stolen part????????
My card was sent to my old address and the CC company said that the USPS would not forward it. They canceled that card and sent me a new one with new account #. THe month they reported "lost or stolen card", I lost points. The history of the account had vaporized and I think that had something to do with the points. However, one month later, they reported the new card # with ALL the old account history and my score was 6 points higher than when I had only the original card.
Does not have any effect on your scores at all. I have two and doesn't effect my scores. I spoke with several banks, mortage companys and the credit bearues all three they said the same. My bank said the same too that they don't have any effect on FICO scores.
Lost/stolen is just a closed account with a specific reason for closing. If the account listing has negatives, then get it off. If it doesn't, then it's a positive closed account with a history and some age to it, so leave it. Ironically, I suspect that all of the lost/stolen TL listings that I had on my report from 3 months prior to my BK filing are probably helping to prop my score up. It gives me 18 positive accounts instead of 9.
