topic Re: Did I screw up by opting out in General Credit Topics

Did I screw up by opting out

Anonymous — Tue, 16 Sep 2008 14:06:32 GMT

I am starting the HIPPA process.....does opting out screw me up for getting a mortgage 18 months down the road?

Re: Did I screw up by opting out

Anonymous — Tue, 16 Sep 2008 14:58:27 GMT

Not a bit-

hawkster wrote:

I am starting the HIPPA process.....does opting out screw me up for getting a mortgage 18 months down the road?

Re: Did I screw up by opting out

Anonymous — Tue, 16 Sep 2008 16:06:21 GMT

^^^^^^^^ Thanks.

New question, I did step one of the opting out, who am I suppossed to send the opt out letters to? My cc company, car loan, etc?

Re: Did I screw up by opting out

Anonymous — Wed, 17 Sep 2008 01:08:30 GMT

I opted - out, but an still receiving offers from CrapOne! I've read that if you opt-out, it helps out your over-all score? Maybe I'm wrong, but this is what I've read and have been told.

Any feed-back would be nice....

Re: Did I screw up by opting out

GFer — Wed, 17 Sep 2008 01:53:00 GMT

How could this possibly affect your score?

I could see it looking good for a manual review....but not in FICO scoring.

Re: Did I screw up by opting out

haulingthescoreup — Wed, 17 Sep 2008 01:55:59 GMT

It takes a good long while for the offers to dry up after opting-out. And in the same manner, once you opt back in, it can easily take four weeks or so to get your name and number scrawled on the creditors' bathroom walls.

Opting in or out does absolutely nothing for your scores, other than reducing the temptation to apply for credit, and thereby getting the various dings that come with new credit. Your opt-in/out status isn't factored into your scores.

As impulse control has always been my weak point, I opted out for a long time while I did my research here and worked and waited to get my scores and reports where I wanted them. I opted back in a couple of months before my app-o-rama, so that I could use the online pre-approval sites to see where I stood, and look at the offers I got in the mail to guess how marketable I was. I'm still opted in, because although I am still a completely undisciplined dingbat in other areas, when it comes to credit, I'm now pretty ruthless.