Stop Those Pre-approved Credit Card Offers...Opt Out!

Did you know that you can opt out of those "pre approved" credit card offers that fill up your mailbox ? Under the Fair Credit Reporting Act (FCRA), Equifax, Experian, Innovis, and TransUnion are all required to give consumers a way to opt out of these types of mailings that they call "firm offers". This is because the law also allows the companies to include you name on lists that creditors and insurers use to make firm offers that you do not initiate. So in exchange for being allowed to make offers without your consent, the credit card companies have to give you a way to opt out. 

In the same way that the credit bureaus work together on one site where you can access your credit report (www.annualcreditreport.com), these companies provide a website at OptOutPrescreen.com that allows you to either opt out permanently by sending a letter via U.S. mail, or to opt out for five years electronically.

Opting out keeps you off of the firm offer lists credit reporting companies use. You can always opt in again if you want, but it's hard to think of a good reason you would want to . Opting out gives you:

• Less junk mail
• Reduced risk of identity theft
• Better for the environment, less paper wasted
• Removes the unneeded temptation to get deeper into debt

 If you want to opt out by phone, just call 1-888-5-OPTOUT (1-888-567-8688). To opt out by mail, you'll need to fill out an online form, print a form that verifies you are opting out permanently and mail it to:

Opt-Out Department
P.O. Box 2033
Rock Island, IL 61204-2033

 If you fill out the form but never get around to sending it, you will still be opted-out for five years. For most people, opting out online is easiest. Opting out by phone is probably the most secure method since you need to provide your social security number.

Opting out of unsolicited credit card offers is easy, free and good for the planet.