Before you do anything, OPT OUT!

[scorch]

I would like to make mention of a secret score calculated by the CRAs called a "response score". It is based on how you respond to such offers. If you actually respond to them, you may increase your chances of being a risk. So I would reccomend not even responding.

[London]

If you opt-out, can you opt-back in before the 5 year period is completed?
I ask b/c I want to opt-out for the period that I'm cleaning my credit, and then opt back in when I'm done.

[scorch]

I would think that they would want you to.

[Chris01]

Thanks for the link!

[AngieMrsn]

I didn't know that I could do this. I've been working hard at repairing my credit and knew I was doing good when I started getting all these offers in the mail, I shred them but it gets annoying because as we all know it is tempting to try for one! I have opted out and will be letting my mother (who is also trying to repair her credit) know about this, as well as referring her to this site.

Angie

[Trish]

I just wanted to add that there are also options to opt out of 3rd party communications for almost everything. I did not know this until a very experienced member from another board posted this info.

This includes any new cc accts you open, utilities, phone companies, internet, cable, etc.

You have to opt out from these places as well (visit the websites or read the fine print of your bill/contract. They will sell your info too and it's just another way for CAs to find you.

Not sure if I can post links to another board (chane?).....if you are interested, maybe I can just bring the info over here and give credit to the author.

[chane]

Originally Posted by Trish

Not sure if I can post links to another board (chane?).....if you are interested, maybe I can just bring the info over here and give credit to the author.

I'd prefer that you just copied and pasted the text, but if you have to you can.

[Trish]

Thanks, Chane..
I noticed you used a letter from Why Chat....and that it who I am referring to. Here is what he wrote:


"By now everyone knows the reasons to opt out with the CRA's.
It prevents them from selling your data to ANYONE.
( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers."

~courtesy of Why Chat

Kinda scary, eh?

[DRD818]

Originally Posted by AngieMrsn

I've been working hard at repairing my credit and knew I was doing good when I started getting all these offers in the mail,
Angie

My credit is nightmarish, and I still get these sorts of offers. I'm not precisely certain what they key on, but I don't believe it's basic credit-worthyness.

P.S: Opting-Out now. I've been a member of this forum for a scant fifteen minutes, and I'm already learning things.

[mystray]

Thank you for the opt-out information, I just did that. Much appreciated!