For those who have gone bankrupt lately, you may be getting a lot of pre-approved credit offers in the mail. The idea of “buy now, pay later ” has numerous consumers in America, although it doesn’t have to. Call 888-5-OPTOUT (1-888-567-8688) and you will be safe from Equifax, TransUnion and Experian in their offers. This is great if you’re trying to rebuild credit without emergency money or even if you’re just trying to keep identity theft out of reach.
Credit card offers die with 888-5-OPTOUT
888-5-OPTOUT calls help any person who needs to stop all of the direct marketing that comes their way. No more credit card offers and no more advertisements for credit products via postal mail will show up. Call from your home phone line and be prepared to give your Social Security number. If the prospect of revealing those digits worries you, put your mind at ease – the service is recommended by the Federal Trade Commission.
If you prefer, send a letter
Similar to the 888-5-OPTOUT telephone option, consumers can opt-out of pre-approved credit offers and related advertising via mail. An example letter looks like this. The letter needs to go to all of these three credit bureaus:
Options
Equifax, Inc.
P.O. Box 740123
Atlanta, GA 30374-0123Experian
901 West Bond
Lincoln, NE 68521
Attn: Consumer Services DepartmentTransUnion
Name Removal Option
P.O. Box 505
Woodlyn, PA 19094
Why many were previously confused with 888-5-OPTOUT
There was an email sent around a while ago saying 888-5-OPTOUT was a very good place to go to get out of losing info, although the information wasn’t clear. A consumer had to go to the number or send a letter so their data wasn’t given out to “anyone who requests it.”. According to Privacy Rights Clearinghouse, this muddles elements of two federal laws, the Financial Services Modernization Act and the Fair Credit Reporting Act. 888-5-OPTOUT isn’t connected to either of these laws which is what was confusing. There was not any point in this controversy.
The take-away here is that 888-5-OPTOUT is a useful tool for consumers. Avoid the credit card trap, stay away from identity theft and possibly you’ll be in a position where you won’t need a bad credit score loans.
Further reading
CBS Money Watch
moneywatch.bnet.com/saving-money/blog/devil-details/privacy-pirates-7-ways-to-hide/2702/
FTC
ftc.gov/privacy/protect.shtm
Privacy Rights
privacyrights.org/ar/optout_truth.htm
Opt out of junk mail
youtube.com/watch?v=gjbPo1diCKo
