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lost credit card - does it impact your credit report?


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I recently lost my Bofa Amex card. No charges were made on it and I had it cancelled. I checked my credit report and see that the card is listed as stolen or lost. Does anyone know if the new card now triggers a new account (thereby wiping out the year of credit history on the old card)? I'm a year and a half into my credit repair and I hate to lose any of my efforts.

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I had a card replaced with HSBC, and they closed the old account, which still reports and is in great shape and transferred the history to the new account as well, so I have 2 4 year old accounts in good standing...one opened and one closed, it was marked lost or stolen...

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It shouldn't happen this way, but it does. The account number changes, but the account remains the same. If any credits are applied to your old card, such as merchant returns, they will be credited to your new account number, as they are inextricably linked.

The card issuer isn't going to report the old card anymore, so it will not update,and will off in 7+ years (or it might remain forever) Because the issuer once reported it, it will remain on your report until the issuer asks to have it removed. The problem is: if you dispute the old account, you run the real risk of having your dispute misunderstood and you could lose the positive account altogether.

If you want it gone, the best solution is to contact the card issuer and have them send a credit bureau update to remove the old account.

Alternatively, you could leave the old account as the poster above did. It's simply another TL. The only problem is: it's only one year old, and therefore is probably lowering your average age of accounts. If you are suffering from a lack of TL, I would recommend leaving it.

It's really up to you, because it's probably a toss-up either way, depending on a myriad of factors..

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