I didn't know that creditors...

rich69bOctober 31, 2006

Well, I just pulled my free credit report thru the FTC site. It was good, no negative report, but I thought I'd get a credit score. Have to pay for it to get it, so I passed.

But on the later part of the report, I just found out that creditors, (maybe not all, who knows) can pull your credit report when they want to offer you a credit card? That's what it says on the report: "some of these reports you may not recognize or not initiated by you." Then down the line they said about creditors who offer you credit cards can inquire for your credit history. Discover card inquired about my credit history twice in June 2006. I don't have a Discover card, never had one, but thye always send me offers to open account with them. Chase had multiple inquiries last year. I do have a Chase card, but I still receive solicitation from them.

I always thought that when you apply for a credit card, then that's when they check you credit report, not before you apply for one. I guess I was wrong again.

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You can opt out of that.... they then can't inquire unless you initiate the contact.

Sorry, though... even though I did that (and my mail dropped as the offers stop) I can't remember how!

Can someone help?

    Bookmark   October 31, 2006 at 8:59AM
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YES, definitely opt out. This will not only cut down on the number of inquiries, it will help prevent potential identity theft (by lessinging the number of card offers sitting in your mailbox).

Call 1-888-5-OPTOUT. You can also do this at OptOutPreScreen.com, which is the official consumer credit reporting industry opt-out website.

I did and I am very happy.

    Bookmark   October 31, 2006 at 10:18AM
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Is this the one that you put in your SSN? If it is, I was gonna try it last year, I think, but kinda scared about the SSN part.
Thank you so much.

    Bookmark   October 31, 2006 at 12:30PM
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also, those are "soft" pulls on your credit. inquiries from lenders for preapproval do nto show to other lenders, nor do they affect your score or credit at all. HARD pulls, like when you actually apply for a loan or a credit card, DO lower your score.

and as to optoutprescreen.com, it looks fake, but it is the real thing. I listed myself and my wife there a couple yearsw ago and the junk mail stoped in less than 2 months.

    Bookmark   November 1, 2006 at 12:23PM
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