In this episode, i discuss a great website to opt-out of not only recieving those annoying credit card offers, but also to prevent your credit card companies from accessing your credit report and making changes to your terms and conditions because of something on your credit report.Hey everybody and welcome to another episode of the Reside Daily Bite; I’m your host, David Doucette. Today, I have an exciting web address that I want to share with you and this came as a result of our team meeting, our Keller Williams team meeting, which we have every Monday. We had a presentation by a credit repair company and they gave us a website that I think is a piece if invaluable information and that’s what today’s daily bite is.
The name of the website is OptOutPreScreen.com. This is a centralized service to accept and process request from consumers to opt in or opt out of firm offers of credit or insurance. So what this really means is, when you opt out, for example, it prevents consumer credit reporting companies, such as Equifax, Experian and TransUnion, from providing your credit file information for firm offers of credit or insurance that are not initiated by you. So, those credit card offers that you frequently get in the mail -those kinds of things-, when you opt out, you’re not going to get those.
But, very important, this is also what you’re not going to get, when your credit cards will pull your credit reports and they’ll see something on it and as a result, they’ll raise your rate or they’ll raise your yearly fee or the percentage rate. As you keep paying your credit card down, they also keep taking the balance down because of something in your credit report.
Well what this does, this prevents that credit card company from going and pulling your credit card file. So, this is where I think this is really huge because it has happen to me over the years, where they would pull something and say, “Hey, we’re going to increase your rate by 2% because of something on the credit report.” They’re not going to be able to do that anymore because they’re not going to have access to your credit file to do it.
Again, OptOutPreScreen.com. Let me know what you think, 1-800-476-5579. My name is David Doucette and thank you so much for checking out the Reside Daily Bite.