Posts: 127
Registered: ‎12-11-2012

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
Posts: 1,228
Registered: ‎05-10-2012

Re: opt out for points

How would that theoretically work?

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
Posts: 12,952
Registered: ‎04-15-2011

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
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Posts: 127
Registered: ‎12-11-2012

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
Posts: 32,869
Registered: ‎08-04-2007

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.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+