If I Choose The Right To Opt Out Will My Credit Score Be Affected?
will it affect me at all like lower my credit score because i want to opt out and close my account. do you recommend i do it? i want to get rid of it because i dont use it at all. but what do you suggest?
Tags: Affected, Choose, Close Account, Credit, Credit Score, Right, Score, Will
November 29th, 2009 at 4:18 am
If by “opt-out” you mean cancel an account in good standing, then yes, it will be a small negative on your credit score.
If you don’t use this account, put the card in a drawer or cut it up with a pair of scissors. Good accounts always enhance your credit profile and the longer you keep them the better they make you look.
November 29th, 2009 at 9:55 am
Noooooooooooooo. It won’t. Closing the account can improve your credit score if you don’t use that account.
November 29th, 2009 at 2:59 pm
Dumping credit tha tyou don’t use is a good idea. In some limited cases, companies may give you a negative on your credit becuase you are not using it. Damned if you do, damned if you don’t.
Opting out is an advertising and solicitation process, and should not have any effect on your credit score. This is another good reason to limit the accounts you have,. If something negative IS reported, it is easier to track down who did it and why if you have fewer creditors. Good luck!
November 29th, 2009 at 8:19 pm
Your score is likely to increase as a result of these actions
November 29th, 2009 at 11:57 pm
Opting out and closing an account are 2 different things! Opting out will not affect your credit rating, but closing an account will! If your not using it, keep it open because a large part of your credit rating and credit score is the number of accounts you have and how long they remain opened!
Go to the website below and read ALL of it, in particular, the section called “how credit scoring works”!
I used this site and it helped me get my credit score from 480 to 709 in one year and I’m not done yet! I highly recommend them!!!!