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Locking Credit and CLIs

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Anonymous
Not applicable

Locking Credit and CLIs

I am thinking of locking up my credit reports, BUT I wonder about the "downside," if any.
 
1.  If I do this, will I still be able to get CLIs?
 
2.  Will I still be able to update my reports and scores (through Credit Secure, TC, MyFico, etc.)?
 
3.  Will I still receive my online card-related credit updates (PFICO through WAMU, etc.)?
 
I know I won't get preapprovals, but I don't care---I have plenty of credit lines and cards. I don't want to necessarily limit myself with regard to CLIs, however. Anybody have any knowledge about this?
Message 1 of 10
9 REPLIES 9
haulingthescoreup
Moderator Emerita

Re: Locking Credit and CLIs

By "locking up my credit reports", do you mean opting out of preapprovals? If so, that won't affect CLI's and updates. Opting out just blocks companies that you are not currently doing business with from softing your reports with PR (promotional) prefixes. Your current companies can still soft you with AR (account review) or AM (account maintenance) prefixes.

Back when I was opted out, I was still hitting TrueCredit daily and getting monitoring alerts from the various random services that I had accumulated along the way.

If you're talking about a freeze or fraud alert, I can't help you --we'll need input from someone else. Smiley Wink
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 10
smallfry
Senior Contributor

Re: Locking Credit and CLIs

If you freeze your reports all current issuers can still pull your bureau. You wouldn't be able to get a new issuer to see your report so if you wanted to apply with a new issuer they couldn't see your report. Some issuers might view a report you haven't frozen if they normally wouldn't pull that one but most want to see what they want to see. Some can be convinced though.
Message 3 of 10
Anonymous
Not applicable

Re: Locking Credit and CLIs



haulingthescoreup wrote:
By "locking up my credit reports", do you mean opting out of preapprovals? If so, that won't affect CLI's and updates. Opting out just blocks companies that you are not currently doing business with from softing your reports with PR (promotional) prefixes. Your current companies can still soft you with AR (account review) or AM (account maintenance) prefixes.

Back when I was opted out, I was still hitting TrueCredit daily and getting monitoring alerts from the various random services that I had accumulated along the way.

If you're talking about a freeze or fraud alert, I can't help you --we'll need input from someone else. Smiley Wink

Oh, sorry---I guess my post wasn't clear. I did mean "freeze" my credit, not merely opt out.
Message 4 of 10
UpNComing
Established Contributor

Re: Locking Credit and CLIs



.
haulingthescoreup wrote:
Back when I was opted out, I was still hitting TrueCredit daily and getting monitoring alerts from the various random services that I had accumulated along the way.


 
 
Were you able to change what TrueCredit would alert you to?  It almost sounds like you were alerted to soft inquiries as well.



Message Edited by UpNComing on 05-17-2008 10:22 AM
CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
Message 5 of 10
haulingthescoreup
Moderator Emerita

Re: Locking Credit and CLIs


@UpNComing wrote:

@haulingthescoreup wrote:
Back when I was opted out, I was still hitting TrueCredit daily and getting monitoring alerts from the various random services that I had accumulated along the way.
Were you able to change what TrueCredit would alert you to? It almost sounds like you were alerted to soft inquiries as well.
TrueCredit doesn't see softs or alert you to them. I semi-accidentally had signed up for EX's Consumerinfo.com monitoring service (tried to do the one month freebie and bobbled it as usual), plus I have Equifax's Credit Watch Gold (love it, love it), plus I have ScoreWatch through myFICO.

So TC would send alerts for all three CRA's, plus the EX thing would send alerts for EX alone, and EQ would send alerts for EQ, plus ScoreWatch would also send alerts for EQ and for score changes. Smiley Tongue

But these were all for the usual new account, balance increase, blah blah stuff. I have to pull the full report for the softs.

That's what's nice about Equifax's Credit Watch Gold, btw --you can pull a full report every day, softs and all. They tell you your full age and average age in years and months, they break down util in mortgage, installment and revolving; a great little service. PLUS you have a phone number that is answered with additional hours beyond the usual 9-5 hours.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 6 of 10
UpNComing
Established Contributor

Re: Locking Credit and CLIs



@haulingthescoreup wrote:

@UpNComing wrote:

@haulingthescoreup wrote:
Back when I was opted out, I was still hitting TrueCredit daily and getting monitoring alerts from the various random services that I had accumulated along the way.
Were you able to change what TrueCredit would alert you to? It almost sounds like you were alerted to soft inquiries as well.
TrueCredit doesn't see softs or alert you to them. I semi-accidentally had signed up for EX's Consumerinfo.com monitoring service (tried to do the one month freebie and bobbled it as usual), plus I have Equifax's Credit Watch Gold (love it, love it), plus I have ScoreWatch through myFICO.

So TC would send alerts for all three CRA's, plus the EX thing would send alerts for EX alone, and EQ would send alerts for EQ, plus ScoreWatch would also send alerts for EQ and for score changes. Smiley Tongue

But these were all for the usual new account, balance increase, blah blah stuff. I have to pull the full report for the softs.

That's what's nice about Equifax's Credit Watch Gold, btw --you can pull a full report every day, softs and all. They tell you your full age and average age in years and months, they break down util in mortgage, installment and revolving; a great little service. PLUS you have a phone number that is answered with additional hours beyond the usual 9-5 hours.


I'll look into the Equ Gold thanks!
CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
Message 7 of 10
smallfry
Senior Contributor

Re: Locking Credit and CLIs

Hauling aren't you worried about getting a split file from pulling EQ CWG everyday? I had it loved it but dropped it for that reason.

Message Edited by smallfry on 05-17-2008 10:43 AM
Message 8 of 10
haulingthescoreup
Moderator Emerita

Re: Locking Credit and CLIs


@smallfry wrote:

Hauling aren't you worried about getting a split file from pulling EQ CWG everyday? I had it loved it but dropped it for that reason.

No, I don't pull them every day by any means! It's just nice to know that I can. For instance, if I had been caught up in the recent Sallie Mae thing, I would have been all over those reports.

I have noticed that both EQ and TC are displaying many fewer soft reports than they used to --generally just one or two TC, EQ, and myFICO pull per month, and only going back a few months. I do believe that they've figured out how to deal with that little awkwardness of closed accounts and whatnot suddenly disappearing. Especially the whatnots. Smiley Wink
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 10
smallfry
Senior Contributor

Re: Locking Credit and CLIs

Yep. Cheaper than a software upgrade to be sure. Smiley Happy
Message 10 of 10
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