cancel
Showing results for 
Search instead for 
Did you mean: 

OPTING OUT? CAN SOMEONE EXPLAIN

tag
signguy17
Frequent Contributor

Re: OPTING OUT? CAN SOMEONE EXPLAIN

@ Bella....got to https://www.optoutprescreen.com and go to the bottom of the page and click the prompt.  The next page click opt out for 5 years and you're done!!  I just did it...if it works I'll share the news but not the buzz I get from the bump fixxxxxxx......oh yeahhhhh!


Starting Score:
11/11/12 BEGIN REBUILD myFICO 584

11/11/13 ONE YEAR ANNIVERSARY!! myFICO 705
Message 11 of 13
bella1013
Contributor

Re: OPTING OUT? CAN SOMEONE EXPLAIN

lol thanks

Message 12 of 13
Anonymous
Not applicable

Re: OPTING OUT? CAN SOMEONE EXPLAIN

Soft pulls do not affect your credit and are not factored into FICO scoring models, only hard pulls.  This is well documented so to say otherwise is incorrect.  True - this is simply interweb-hype and any score increases would most likely be attributed to positive account aging, etc etc.  As a previous poster mentioned, I too personally prefer to be opted-out as it prevents views of your CR by unknowns.  Of course, this also means "pre-approved" offers, etc will be turned off as well because ... well ... this is how they "pre-approve" you.

 

If you are not opted out and app for a mortgage this allows JDBs and the like to also see you have been app'ing.  This basically reads to them: "hey, this chap has some money to spend and since I have this old debt from 1882 I now have their current info and am going to go after them - here, let me add this to your CR or at least begin making phone calls to your OnStar number - and I'll send a few letters too!".  Then, in the middle of the mortgage app process you now have a baddie on your CR.  No bueno.  This of course is my understanding from my research here in the FICO forrest and even from my banker.  A mod or uber-experienced member could verify.

 

Too, Google it a bit more and you'll find page after page of credit professionals debunking the claim.  Also, if soft-pulls affected credit then considering how often most of us do a looksie at our own reports we would all have 850 scores.  Of course it would be a NEGATIVE 850 lol Smiley Happy

Message 13 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.