My Competitor contacted me for a link exchange and I just rejected him but would like to know what you people do when it comes to Link Exchnage with Competitor and your opinion about SEO in this regard.
I would always prefer to do as my definition of competitor is one who is above me and not the one below me.
I would have accepted that offer if it is from my real competitor. By having a link on your competitor sites you can get some targeted traffic.