The benefits of Opting Out

[Meemz]

I did read the link but it's from 2005. Does that apply to 2017?

[Jon77]

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

Edited September 26, 2017 by Jon77

[Meemz]

Mendelsohn I did one a couple of years ago and one did show up but not until a year later after that app. So I sent out a complaint and they removed it. I have a letter from the CA CEO stating they would remove and they did. I just hope it doesn't happen again. As I am ready to purchase.

Edited September 26, 2017 by Meemz

[mendelssohn]

I did read the link but it's from 2005. Does that apply to 2017?

 

It does not. All that opting out does is prevent you from getting pre-screened offers of credit.

 

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

 

That's a personal choice, but if you are after large signup bonuses, you can often get larger than normal offers this way.

[hegemony]

So the whole opting out during a mortgage app won't help with keeping CA/JDB off credit if they notice?

it is BS to suggest it keeps CAs/JDBs at bay.

[hegemony]

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

people who rely upon BT offers probably want to remain opted in as many promo BT offers are made via prescreened offers.

[cv91915]

I did read the link but it's from 2005. Does that apply to 2017?

 

I wasn’t around here in 2005.

 

I was busy wasting a segment of my life in what turned into a long distance relationship with a Cuban guy who couldn’t cook. He thought when a recipe called for spices you didn’t have, that you could just substitute allspice. Because it’s all spice.

 

Allspice is terrible on roasted turkey, FYI.

 

I still have the yellow Polo sweater he sold me when we met where he was working, at the Younker’s Department store in Omaha.

 

It’s kind of a long story.

 

But I’m not 100% sure the info in that link was accurate even then.

[StupidCredit]

 

I did read the link but it's from 2005. Does that apply to 2017?

 

I wasn’t around here in 2005.

 

I was busy wasting a segment of my life in what turned into a long distance relationship with a Cuban guy who couldn’t cook. He thought when a recipe called for spices you didn’t have, that you could just substitute allspice. Because it’s all spice.

 

Allspice is terrible on roasted turkey, FYI.

 

I still have the yellow Polo sweater he sold me when we met where he was working, at the Younker’s Department store in Omaha.

 

It’s kind of a long story.

 

But I’m not 100% sure the info in that link was accurate even then.

 

 

So opting out doesn't help with long distance relationships either.

[cv91915]

 

 

I did read the link but it's from 2005. Does that apply to 2017?

 

I wasn’t around here in 2005.

 

I was busy wasting a segment of my life in what turned into a long distance relationship with a Cuban guy who couldn’t cook. He thought when a recipe called for spices you didn’t have, that you could just substitute allspice. Because it’s all spice.

 

Allspice is terrible on roasted turkey, FYI.

 

I still have the yellow Polo sweater he sold me when we met where he was working, at the Younker’s Department store in Omaha.

 

It’s kind of a long story.

 

But I’m not 100% sure the info in that link was accurate even then.

So opting out doesn't help with long distance relationships either.

[Jon77]

 

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

people who rely upon BT offers probably want to remain opted in as many promo BT offers are made via prescreened offers.

 

Part of CB's rebuilding plan is accumulating prime cards and paying off said debt. After you've "rebuilt", there shouldn't be anything to transfer.

[mendelssohn]

 

 

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

people who rely upon BT offers probably want to remain opted in as many promo BT offers are made via prescreened offers.

Part of CB's rebuilding plan is accumulating prime cards and paying off said debt. After you've "rebuilt", there shouldn't be anything to transfer.

But you should be looking out for targeted offers.

[hegemony]

 

 

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

people who rely upon BT offers probably want to remain opted in as many promo BT offers are made via prescreened offers.

 

Part of CB's rebuilding plan is accumulating prime cards and paying off said debt. After you've "rebuilt", there shouldn't be anything to transfer.

 

and how many threads do we see asking for "best current BT offer"

 

and how many people are playing arbitrage with 0% BTs?

 

moreover, some SUB promos are made via prescreened offers only.

[cv91915]

 

 

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

people who rely upon BT offers probably want to remain opted in as many promo BT offers are made via prescreened offers.

 

Part of CB's rebuilding plan is accumulating prime cards and paying off said debt. After you've "rebuilt", there shouldn't be anything to transfer.

 

 

I’m about to BT $2,800 in conference registration fees to Capital One (no fees, same APR as purchases, which is 0%/$0 when you PIF).

 

I have an $8,900 balance on that account right now, which I BTd last month, and which I will PIF in October before the due date.

 

These are work expenses which have not yet been reimbursed.

 

I do this mainly for the entertainment value of having Capital One finance my work expenses for free.

[Meemz]

 

I did read the link but it's from 2005. Does that apply to 2017?

It does not. All that opting out does is prevent you from getting pre-screened offers of credit.

I don't know about you guys, but I only get the crap offers like Discover, Chase, Citi, Lending Tree, etc. Great for rebuilding, but once you're done, it seems like it's time to just opt out so I'm not throwing away trees.

That's a personal choice, but if you are after large signup bonuses, you can often get larger than normal offers this way.

Thank you!

 

So the whole opting out during a mortgage app won't help with keeping CA/JDB off credit if they notice?

it is BS to suggest it keeps CAs/JDBs at bay.

I thought it was too good to be true

[MarvBear]

I did read the link but it's from 2005. Does that apply to 2017?

 

 

Of course, it does. Back then that thread contained a rather thorough discussion of opting out and what it could and could not accomplish, for those that bothered to read it thoroughly. Actually no different than what has been discussed for the most part in this thread. I'm rather surprised at some of the pointed responses that have been directed toward myself.

[mendelssohn]

I've been respectful, Marv. Opting out doesn't do anything for credit repair though. I'm aware of what many people think it does, but all evidence points the other direction.

[hawaiigirl]

I'm wondering if it's worth bringing up the issue of freezing credit reports, especially in view of what happened with Equifax. Everybody is freezing reports now, and that effectively opts out at the same time, right? Or am I wrong on that? If it does opt out, can you explicitly go to the opt out site and opt in to offers, despite the freeze?

[hegemony]

I'm wondering if it's worth bringing up the issue of freezing credit reports, especially in view of what happened with Equifax. Everybody is freezing reports now, and that effectively opts out at the same time, right? Or am I wrong on that? If it does opt out, can you explicitly go to the opt out site and opt in to offers, despite the freeze?

correct. when you freeze you are opted out (and not just for the CRA you freeze, due to e-oscar the four major CRAs share the opt out request)

[cv91915]

Here is the FAQ from the Opt Out Prescreen web site, cleverly called www.optoutprescreen.com.

[hegemony]

On 9/27/2017 at 1:48 PM, mendelssohn said:

I've been respectful, Marv. Opting out doesn't do anything for credit repair though. I'm aware of what many people think it does, but all evidence points the other direction.

I found a visual presentation of the benefits of opting out to prevent CAs, JDBs, and skip tracers.

 

[RehabbingANDBlabbing]

Just to add to this thread, let me tell you this: my spouse and I are both opted out and we have our reports frozen. Debt collectors are still pulling softs on Experian and TransUnion. I haven’t seen any of these on Equifax, but the pattern I have noticed is that they soft pull your credit before sending any letters to you in the mail or calling you. My best advice is to just watch who is soft pulling your credit and to proactively research who you are dealing with and who wants to know more about your finances.

[CreditCurious20]

Debt collection is a permissible purpose under the FCRA. If you have a delinquent debt, they will find you regardless if you opt out or not. In the old thread, some posters were concerned that scam artists would search the lists and use those to find victims before a major purchase such as real estate or a car. If the trade line is based on actual fraud, you can file a police report and fraud affidavit with the CRA. They must remove those within 4 business days. 15 U.S.C. 1681c-2 (a). The only hindrance is that it could result in fraud alerts, but you could have those removed. If the CRA fails to delete the record and willfully fails to comply with the FCRA, it is liable for the greater of actual damages or statutory damages of $100-$1000, possible punitive damages, and costs/attorney's fees.

Edited September 12, 2020 by CreditCurious20