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Contributor
leppy2
Posts: 127
Registered: ‎12-11-2012
0

opt out for points

I am 5 points from being able to close on my home. Yay.
My realtor mentioned that I could pick up 5 points if I opt out of pre approved CC offers. Has anyone tried this? I may be able to get an extension but I don't want to take a chance.
Thanks everyone!
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: opt out for points

How would that theoretically work?

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
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WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: opt out for points

Opting out has nothing to do with score, so no this would not work.  What it might do is keep the CRAs from selling your information to a CA and have something pop up at the last second.  So it is always a good idea to opt out while mortgage shopping.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Contributor
leppy2
Posts: 127
Registered: ‎12-11-2012
0

Re: opt out for points

Thanks shogun. We are scheduled to close on 12-28. Looks like I'm not going to make it. I did notice on my copy of the credit report that my auto loan and furniture loan hadn't yet reported this month. I wonder if that will give me a few points?
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: opt out for points

I'll add that I've seen the same before. It's untrue on a FICO scoring perspective as mentioned. Maybe at one point in time someone opted out, utilization changed and their score went up, and they attributed the increase to opting out and posted about it. Rumors and incorrect info spreads easily in the credit realm.


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