Tip of the Week | Opting out of Credit Offers November 21, 2006
Posted by seechadfund in Real Estate.trackback
Here is a helpful tip to cut down on your junk mail. You can opt out of receiving credit card offers with this 800 number:
888-567-8688 option 3
The article was originally in Money Magazine, November 2006 pg 100.
This will give you the choice to opt out for either 3 or 5 years. It takes about 48 hours to go into effect, and you can opt back in if you would like at any time. The benefit is 3 fold, it will reduce junk mail and phone solicitations, help combat identity theft, and also may increase your credit scores.
I also have a great article with other tips to help protect yourself from identity theft. Contact me and I will send a copy.
Have a Great Week!
Advertisement
I just recently heard of this thing called “opting out.” The person who told me was a fellow loan officer who recommended it as a way to help borrowers increase their credit score without too much effort. He directed me to the sight optoutprescreen.com, and in the website’s FAQs, it specifically states that opting out will not increase someone’s scores at all. Have you actually tried this, or know someone who has, and seen an increase in scores?
While I have tried this, I haven’t seen an increase in a score that could be directly attributed to the opt out. I have seen a slight increase in actual scoring, but an account had also posted an update which had a slightly lower balance than the previous report. I didn’t mean to imply that your scores will go up with 100% certainty, but as a side benefit, it may be the case.