topic Re: Opt out / Opt in question in General Credit Topics

Opt out / Opt in question

Meanmchine — Fri, 12 Oct 2018 03:55:52 GMT

Question is : If you are OPTed OUT, does this stop a current lender from soliciting you for another one of their product?

Example, you have a Cap1 QS card and are opted out, can/will Cap1 solicite you for another one of their cards being that you are already a customer?

Thanks

Re: Opt out / Opt in question

jdbkiang — Fri, 12 Oct 2018 05:57:35 GMT

I believe opt-ing out will disallow the lender from soliciting you with any offers.

Re: Opt out / Opt in question

RobertEG — Fri, 12 Oct 2018 15:45:55 GMT

No.

If they have your name from a source other than a listing obtained from a CRA in response to submission of screening criterion to the CRA under FCRA 604(c), opting in or out is irrelevant.

Opting in or out is a provision of FCRA 604(e), and applies to the ability of a consumer to notify a CRA that they wish to be excluded from listings provided to potential creditors of names and addresses of consumers who have been determined by the CRA through screening of their files that they meet prescribed screening criterion.

Any creditor, including either those with which you have an existing account and those with which you have no account and/or have not initiated any request for credit, can send you their own solicitiation if they receive your name and address from any other source other than a screening listing provided by a CRA in response to a request from a creditor.

Re: Opt out / Opt in question

Meanmchine — Fri, 12 Oct 2018 18:35:29 GMT

Ill take that as a "NO"

Thanks RobertEG