Why should I opt out of prescreened offers?
Prescreened offers of credit or insurance – sometimes called “preapproved” offers – are sent to consumers unsolicited, usually by mail on an irregular schedule. They are based on information in a consumer’s credit report that indicates the individual receiving the offer meets the criteria set by the company making the offer.
As a result, an identity thief can steal your “preapproved” offer from your mailbox, call the lender to accept the offer, and then start spending using your good name and credit. So it’s a good idea to opt out of receiving these offers to substantially reduce your risk of becoming an identity theft victim – not to mention noticeably less junk mail to wade through.
How do I let credit bureaus know that I want to opt out of prescreened offers?
Consumers can now notify the national credit bureaus online to remove their names from the lists that the credit bureaus sell to companies for preapproved offers of credit and insurance. By filling out one form online, you can then tell all the national credit bureau systems to stop selling your name and that you wish to opt out of these programs.
* The service is available by filling out a form online at http://www.optoutprescreen.com.
* The service is a cooperative venture of Equifax, Experian, TransUnion and Innovis.
* Consumers have a choice to opt out for either a 5-year period or permanently.
* If you have previously opted out of these prescreen lists, you may also use the online site to opt back in to receiving preapproved offers.
Previously consumers could only opt out of these prescreen lists by writing the credit bureaus directly or by calling a central phone number to “opt out.” That phone number is still active at 1-888-5-OPT-OUT (1-888-567-8688).
Consumers who choose to opt out of the prescreened offers may also wish to register online at the National Do Not Call Registry to add their phone number to the list that most telemarketers check before calling you with sales solicitations. For more information, see http://www.creditreporting.com/donotcall.html.
Another way to further reduce direct mail and phone solicitations is to contact the Direct Marketing Association (DMA). The DMA is the oldest and largest trade organization for the direct marketing industry. More information for consumers is available at: http://www.dmaconsumers.org/consumerassistance.html.
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