Opt in or Opt out?

[Emperess]

I saw on another forum that it's a good idea for me to opt-out to avoid potential collectors who may decide to collect on aged debts..lol!   However, on these forums I get the impression that I should opt-in if I wanted to receive preapproved credit offers in the mail.  I recently opted out, but I wouldn't mind seeing if I get offers as my scores improve. 

What say ye?

[Anonymous]

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Emperess wrote:

I saw on another forum that it's a good idea for me to opt-out to avoid potential collectors who may decide to collect on aged debts..lol!   However, on these forums I get the impression that I should opt-in if I wanted to receive preapproved credit offers in the mail.  I recently opted out, but I wouldn't mind seeing if I get offers as my scores improve. 

What say ye?

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Both are true.  Opting out may help you avoid CAs, but you will not receive any preapprovals.

Opting in may get you some preapprovals, but CAs may be able to find you more easily.

Which is more important to you?

Message Edited by cheddar on 01-29-2008 06:50 AM

[Emperess]

Well, fortunately I'm in the position of not having had to dodge any collectors for almost 2 years, and the ones I'm working with I'm paying every month.  I just don't want to be broadsided by one who sat on a debt for 5 years and want to collect before my state's SOL expires..LOL!

On the other hand, I would like some preapprovals.  Perhaps I'll just search for online preapproval links instead. 

[Anonymous]

unfortunately if you are "opted-out" the online pre-approvals will not work either as your file is blocking promotional inq's.

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Emperess wrote:

Well, fortunately I'm in the position of not having had to dodge any collectors for almost 2 years, and the ones I'm working with I'm paying every month.  I just don't want to be broadsided by one who sat on a debt for 5 years and want to collect before my state's SOL expires..LOL!

On the other hand, I would like some preapprovals.  Perhaps I'll just search for online preapproval links instead. 

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[Emperess]

Thanks for the info, Timothy.  :-D

[Anonymous]

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Timothy wrote:

unfortunately if you are "opted-out" the online pre-approvals will not work either as your file is blocking promotional inq's.

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Emperess wrote:

Well, fortunately I'm in the position of not having had to dodge any collectors for almost 2 years, and the ones I'm working with I'm paying every month.  I just don't want to be broadsided by one who sat on a debt for 5 years and want to collect before my state's SOL expires..LOL!

On the other hand, I would like some preapprovals.  Perhaps I'll just search for online preapproval links instead. 

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Talk about a catch 22.  lol

[Anonymous]

Keep in mind there is no such thing as a pre-approved offer.  Your application is always subject to credit review.

The CCC got your name because it paid the CRA for a list of names/addresses of people who fit a certain profile -- for example, people who are 2 years post-BK who live in a certain geographic area, those who haven't had a late payment in 3 years and have a current auto loan, etc.  When you opt-out, the CRAs are prohibited from selling you on these lists.

The CCCs, lenders, insurers, etc. can find you via other lists even if you opt out.  And your current creditors can solicit you for more stuff.  Do you ever read those privacy disclosures that are stuffed in your credit card bill?  They can sell you to affiliates and even third parties unless you opt out by following their instructions (usually can do this by phone).

[Anonymous]

I never heard of opting out to avoid CA's!  We opted out because of ID theft concerns with all of the junk mail.  We're past looking for new credit (except for my recent new CC's which were kind of spur of the moment) so we don't miss that junk mail at all.

[Anonymous]

I opted out and it has been one of the best things I have done. You can always check finance globe and whogavemecredit when you wish to apply. Once you get above 750 you can opt in- but I love it.

[Anonymous]

I would liek some clarification on how opting out will keep CAs from getting wind of you.  Even if you opt out, any new credit or improvement in score can send a trigger to a CA if they have you set up for such things.