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Question from beginner

Discussion in 'Credit Talk' started by AdamsRib, Apr 11, 2005.

  1. Apr 11, 2005 #1
    AdamsRib

    AdamsRib Well-Known Member

    Hi all,

    In the unofficial FAQ about this board, it says, "post your outline of your reports (remove all the personal info and account numbers) and post your goals and we can help you prioritize the items and begin validation. We can help you try and reach your goal."

    Is that still true? I'm about to get my reports and I'd sure appreciate that kind of help.

    Thanks in advance!
     
  3. Apr 11, 2005 #2
    turtleyboo

    turtleyboo Member

    Thanks for being brave enough to ask that question, because I would like to get in line behind you if that is indeed the case.
     
  4. Apr 11, 2005 #3
    jenz123

    jenz123 Well-Known Member

    definitely!

    start small - don't post ALL information at once or else it gets a little confusing. start with a few tradelines at a time.

    start with getting your reports
    opt out
    delete all old personal information
    post questions here
     
  5. Apr 11, 2005 #4
    AdamsRib

    AdamsRib Well-Known Member

    Thanks so much.

    Question about opting out.

    On another thread (maybe in another forum or universe), someone said that for people with bad credit, opting out might not be the wisest thing to do, because the "pre-approved" offers received might be the ones most likely to be approved.

    I don't have a credit card any more and I need one. (Paid off all of my old ones after the accounts were closed during a family financial disaster.)

    Thoughts?

    Thanks!
     
  6. Apr 11, 2005 #5
    jenz123

    jenz123 Well-Known Member

    the thing with opting out is it prevents your name being sold to CAs and Junk Debt Buyers (or JDB). this keeps them from finding out if your applying for new credit - so in other words, let sleeping dogs lie.

    i don't recall seeing about the preapproved offers, but i think opting out is worth more than preapprovals. the only thing preapprovals give you is *B* - if you catch my drift.

    i hear BofA has a good secured card. if you can't afford one you can try cap one (which i don't recommend) or orchard for unsecured.
     
  7. Apr 11, 2005 #6
    AdamsRib

    AdamsRib Well-Known Member

    Thanks SO much!

    Do you know how long it takes for the "opt out" to take effect?

    Really appreciate it!
     
  8. Apr 11, 2005 #7
    jenz123

    jenz123 Well-Known Member

    i called to opt out and i believe it was immediate.
     
  9. Apr 11, 2005 #8
    wagszrx

    wagszrx Active Member

    what is it that you ask the CRA to opt out on??i am kinda lost on that?
     
  10. Apr 12, 2005 #9
    Butch

    Butch Well-Known Member

    This is true.

    There are pro's and con's to opting out.

    In a situation like yours AR I wouldn't.

    I've gotten some great offers in the mail.

    :)
     
  11. Apr 12, 2005 #10
    Butch

    Butch Well-Known Member

    Re: Re: Question from beginner

    "Opting Out" is when you request the CRA's to NOT sell your name to marketers of credit services.

    :)
     

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