One Easy Phone Call Can Help
When you’re ready to opt out of getting pre-screened offers and take your name off the credit bureaus’ marketing lists, simply follow these instructions:
Step 1. Call 1-888-5-OPT-OUT (888-567-8688)
Step 2. Select Option 2 to skip the message about an Internet email. Step 3. Select Option 2 to opt out of mailings permanently. (Don’t choose Option 1, because that will only opt you out for two years.) Step 4. Follow the directions to enter your correct telephone number, address, name, and social security number.
The recording will tell you that the information you enter is confidential and will only be used to remove your name from the list. After you’re done providing your personal information, you will get a message from this service advising you that your request will be handled within five business days. The recorded message will also state that a “Notice of Election” form will be mailed to your address. This form simply confirms that you have chosen to opt of out receiving credit card offers. Be aware, though, that you may still get some credit card offers in the mail. How so? These offers may come from any credit-granting companies that do not use these credit card companies to secure their list of pre-screened consumers.
Finally, if you have other people in your household who want to opt out, the 888-5-OPT-OUT service also gives you the option to leave information for an additional family member. To do so, select Option 1 at the end of the message when prompted.
Opting Out Using the Internet
Image by Paul Schreiber via Flickr
If you’d rather handle this process electronically, you have two opt-out options at www.optoutprescreen.com. Through this website, you can:
- Opt out from receiving credit offers for five years
- Opt out from receiving credit offers permanently (You can also get through this website a Permanent Opt-Out Election form that you mail in)
When you opt out electronically, you’ll have to provide personal information including:
- Your Name
- Address
- Social Security Number
- Date of Birth
If you visit this www.optoutprescreen.com website, you’ll find that the credit bureaus make it clear that you have the right to opt out. After all, they’re required to tell you this by law. But you’ll also find that they notso-subtly suggest that you not opt out. The way they do this, essentially, is by suggesting you that you’ll miss out on offers for credit and insurance that could be financially prudent. They also suggest that keeping your name on the list for pre-approved credit offers is a way for you to get “first dibs,” so to speak, on credit card offers before other people do. I don’t buy either of these self-serving arguments. And if you’re struggling with debt, neither should you.
What if You Change Your Mind?
Still, some people worry about opting out permanently, particularly if they think they might change their mind later, and actually want to get some credit card offers in the mail. If this is a concern for you, set your mind at ease. The credit card industry is far too smart to create an opt-out system that would be irreversible for consumers. So if you opt out, and you have a change of heart later, it’s a very easy process to opt back in. Let’s say you went online and previously completed an opt-out request electronically. Well, you can later reverse that decision and choose to Opt-In and once again become eligible to receive pre-screened credit card offers. If you believe what the credit bureaus say, you’ll be doing yourself a favor to “Opt In.”
Check out this language on the credit bureaus’ website, www.optoutprescreen.com. The credit bureaus (with the support of the credit card industry, of course) say that by opting in “you will soon be among the many consumers who can significantly benefit from having ready access to product information on credit and insurance products that may not be available to the general public.” Yeah, right.
Opting Out By Mail
If you don’t want to use the phone or the Internet, you can also write to each one of the credit bureaus and request that your name be removed from their pre-screened lists. In your letter, state clearly that you want to “opt out” of credit card offers. Be sure to provide the credit agency with your name, mailing address, city, zip code and social security number. If you’ve moved within the past six months, don’t forget to also include your old address. Regardless of whether you opt out, make sure you shred any pre-approved credit card offers before trashing them. This will help prevent crooks from getting credit in your name.
Next: Day 1: Stop the Flood of Credit Card Offers (Part 3)
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