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Stop the Credit Card Offers and Protect Your Credit Score

One of the most important assets you have is a good credit score.  It becomes even more important if you plan on purchasing real estate in the near future, whether it be investment property or a new home for yourself. Anything you can do to protect and improve your credit score is important.

If you are like me, you receive several “pre-approved status” credit card offers monthly, along with the guaranteed rate insurance quotes. Did you know that these companies check your credit before sending you these offers?  Did you know that these credit checks affect your credit score? Granted, the affect is small, maybe 3-5 points for every inquiry, but every point can count when it comes to getting approved for a loan to purchase real estate.

You can stop these unwanted inquiries into your credit, and save time and paper by stopping the junk mail.  At the bottom of every credit card offer should be a little box with an Opt-Out notice. It used to be in tiny print, but now it should be very readable. 

There’s nothing new about consumer rights to notice and opt-out for prescreened credit and insurance offers. For years, consumers have received such offers with required notices and opt-out telephone numbers buried in fine print along with other mandatory legal notices. The result: Consumers seldom saw these notices and relatively few called the required opt-out number. Now the credit card and insurance companies are required to make this notice big and bold. The notice says

“You can choose to stop receiving “prescreened” offers of credit from this and other companies by calling toll-free 1-888-567-8688. See PRESCREEN & OPT-OUT NOTICE on other side for more information about prescreened offers.”

You can call, or you can Opt-out at this website:  https://www.optoutprescreen.com/ 

Opting out will also stop the annoying phone calls that you will be flooded with if you apply for a new mortgage or apply to refinance your existing home. Read more in my article  Stop The Credit Bureaus From Selling Your Private Information 

Related Articles on Pensacola Real Estate News 

What Is A FICO Score?

The New Credit Scoring System – How Will It Affect Your Credit Score?  

How Not To Lose Your Home Loan After You Are Already Approved  

Click on Pensacola Real Estate News for a list of articles indexed by category.

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