cancel
Showing results for 
Search instead for 
Did you mean: 

Opt-In - How long does it take?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Senior Contributor

Opt-In - How long does it take?

I recently did a "Opt-In" and was wondering how long it takes to take effect. 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (1.1.20) EX: 827 / EQ: 838 / TU: 833
Message 1 of 6
5 REPLIES 5
Super Contributor

Re: Opt-In - How long does it take?

Give it a few months and you should start getting offers.

Message 2 of 6
Legendary Contributor

Re: Opt-In - How long does it take?

Rescinding a prior opt-out is a consumer right depending only upon providing notice to the CRA, so should only be a matter of internal CRA processing time.

 

However, after an opt-in, you may still not see any resulting offers for new credit if your credit file does not meet whatever minimum screeing criterion are specified by a prospective creditor in obtaining a listing of consumers from a CRA.

 

If the question is how long it will take before you begin to receive offers for credit resulting from screening listings provided by the CRAs, that will depend upon the specific contents of your credit file......

 

 

Message 3 of 6
Established Member

Re: Opt-In - How long does it take?

Might I ask where you go to opt-in or find out if you are already opped-in. Also what all does it do?


Message 4 of 6
Senior Contributor

Re: Opt-In - How long does it take?


@WaterTrooper wrote:

Might I ask where you go to opt-in or find out if you are already opped-in. Also what all does it do?


Opt-out is when you out out to receiving any credit card offers. Everyone is opt in until you request to be opt out.

 

the following is a link on more information on opt out opt in.

 

https://www.optoutprescreen.com/?rf=t

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (1.1.20) EX: 827 / EQ: 838 / TU: 833
Message 5 of 6
Legendary Contributor

Re: Opt-In - How long does it take?

Opting out does not necessarily prevent creditors from sending unsolicited offers for credit.

If they obtain your name and address from a source other than a CRA, they can send offers for credit.

 

Opting in and out is a provision of the FCRA that applies to ability of creditors to obtain listings of consumers who meet preset criteria.  See FCRA 604(e).

It is a screening service sanctioned under the FCRA that permits creditors to submit specific screening criteria to a CRA, and obtain from that CRA a listing of consumers whose credit files meet the stated criteria.  It is essentially a way for creditors to avoid broad sending of solicitations to consumers who will not meet their basic credit qualification  criteria.  The CRA does not send a full credit report to the creditor, only a listing of names and addresses of consumers.

 

If a consumer then initiates a request for the offered credit, the creditor can then obtain a full credit report.

If the creditor sends an offer to a consumer based on a listing obtained from a CRA, that offer is required to be a "firm offer for credit," meaning if the  consumer bits on the offer and actually applies for the offered credit, the creditor must grant the credit if, after obtaining a full credit report, the consumer is found to continue to meet the prescreening criteria that was specified by the creditor in obtaining the listing.

 

Opting in or out permits or prevents a CRA from including your name in any screeing listing requested by and sent to a creditor.

If you opt out, it simply requires the CRA to remove your name from any listing.

 

If a creditor obtains your name from sources other than a listing obtained from a CRA, opting out will not prevent such offers from credit.

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.