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Can Opting Out Raise Your Credit Score?
It is a common myth that opting out of pre-approved offers for credit will raise your credit score by as much as 20 points. There is actually no truth to this rumor. There are two types of credit inquiries; hard and soft inquiries. Hard inquiries do impact your credit score and reduce your score. Soft inquiries have no impact upon your credit score. These pre-approved offers are soft inquiries and have no impact upon your score. In fact, you are the only one who can view these inquiries on your credit report. Lenders do not have access to this information, so they can't hold it against you when you apply for credit.
While opting out doesn't benefit you in the form of an improved credit score, it does offer a couple of other benefits. You won't be bombarded with unsolicited offers of credit. Credit companies won't sell your information to other companies. And with the lack of pre-approved offers arriving in your mail box comes a lack of temptation. You'll be less likely to accept these offers and run up more credit card debt, which does affect your credit score.
If you have credit that could use a little improvement, let us help. We have provided a list of the top ranked credit repair companies working in the United States for you to browse and find the one to best help you achieve your financial goals.