Credit Lingo

Glossary of credit terms

Term

Opt-in/Opt-out

Definition

Financial institutions will often ask if you would like to “opt-in,” or sign up, for a certain services. For example, if you would like to add overdraft protection to your checking account, your bank may ask if you would like to “opt-in.” If you are automatically enrolled in a service that you do not wish to receive, you have the opportunity to “opt-out,” or stop receiving that service.