1-888-5 OPT OUT I wouldn't do it, but that's me... I think that I have gotten BETTER offers by mail, than the ones "OFF THE STREET"...
Flagging one's credit report with a notation of "Promotional Block on File" is just another way for the CBs and card companies to use the consumer protection laws against us. In my mind this notation is the same as telling potential creditors that it's highly unlikely they'll make much money off me. I think in cases where there's a manual review before approval that it can and does make a difference. I opted out last year. Since then, it's been very difficult to get approval for new cards despite the fact that my FICO is now ignificanlty higher. Calmest_LA
I think it was Marie who posted several months ago that someone she spoke with that is in the "lending"business (I think) said that opting out would bring a substantial increase in scores after several months. Maybe someone will remember the specifics.
You would have to do a "CONTROLLED" study to see if OPTING OUT has any difference... You would need a husband/wife team...with 4 or 5 cards from the same companies for about the same amount of years...or newlyweds with NO credit. Have one of them OPT-OUT. Wait a month or two... Have them apply for the exact same cards (2 or 3)...seperately...W/HH INCOME... See how their scores react after 6 months...
Yes. It says File Blocked for Promotional Purposes. I don't see any difference is the score effect or being approved/or denied by a credit card company. To me, it just makes my report look a little cleaner without having every other inquiry reading PRM. Dani
the direct marketing association has a mailing list opt out (http://www.the-dma.org/cgi/offmailinglistdave). Is this the same as the opting out for CRA's?
