Credit Card Offers
Are you getting sick and tired of all the credit card offers
that magically appear in your mailbox? Well, you aren't the only
one. Part of the reason why you are receiving so many of late is
because the Fair Credit Reporting Act (FCRA) was changed about
10 years ago to allow major credit bureaus to sell your credit
information to credit card companies.
Luckily for U.S. citizens, this Act also states that people have
the right to remove themselves from these credit card offer
lists. This article will detail some of the ways you can avoid
getting those credit card offers.
Credit Card Offers: Opt Out By Mail The longest and most time
consuming of the options, but it also does seem to be the most
effective. You can mail a letter to each of the (listed below)
credit bureaus, requesting that your name not be included on
their credit card offers list(s). Make sure to give them your
name, phone number, full address, and Social Security Number to
each and every place. Also, if you've moved recently, you'll
want to provide updated information for the past two years.
Equifax (http://www.equifax.com/) Equifax Options PO BOX 790123
Atlanta, GA 30374-0123
TransUnion (http://www.transunion.com/) TransUnion LLC's Name
Removal Option PO Box 97328 Jackson, MS 39288-7328
Experian (http://www.experian.com/) Consumer "OPT-OUT" 901 West
Bond Lincoln, NE 68521
Innovis (http://www.innovis.com/)
Innovis is the new guy on the block when it comes to receiving
credit card offers. They started business in 2001, providing
credit agencies with marketing information on potential, new
clients. One of their features is called FailSafe, which is a
list of people who may pose a credit risk, and therefore should
be removed from the credit card offers list. Another is called
New Movers, which is exactly as it sounds: a monthly list of
people who have just moved.
Credit Card Offers: Opt Out By Mail There is an easier way,
although there is a bit of controversy surrounding this company.
1-888-5-OPTOUT is a number run jointly by all four of the credit
bureaus listed above. By calling it, you can ask to no longer
receive any credit card offers in the mail.
First of all, call the number. Then, select option 2 to stop all
credit card offers being sent to your home. Finally, follow the
prompts to provide all of the same contact information as before
(phone, name, full address and Social Security Number).
Supposedly, just five days after you have made this simple call,
you will be mailed a "Notice of Election" form. However, there
is a bit of controversy regarding this option. It seems that a
large scale bogus email was sent out in July of 2004, stating
that this same legislation allows for ANYONE to access your
credit information.
The FTC, however, has stated publicly that this is just not
true. They say that the legislation in question only gives
financial institutions a deadline to let you know about their
privacy policies, and some way of opting out of the sharing of
private information. In reality, consumers can opt-out of any of
these types of information gathering processes by contacting the
number listed above; July 1 is not a deadline. And finally, not
ANYONE can gain access to your credit information; it has to be
for a certain list of reasons, such as an application for
credit, insurance, employment or rental.