IMPORTANT: Opt out of the 3 major credit bureaus sharing your info with 1 easy toll free call

[RossMAN]

Just got out of my bank's semi-annual training on Right of Financial Privacy which encompasses:
Gramm-Leach-Bliley Act
Right to Financial Privacy Act
Telephone Consumer Protection Act (I've had personal experience with this)

In my training I learned that you can call 1-888-5OPT-OUT (1-888-567-8688) and opt out of information sharing with the 3 major credit bureaus (EquiFax, Experian & TransUnion) with one easy toll free phone call.

This should help lessen the pre-approved credit card offers I receive in the mail from Providian and all the car dealerships in Oregon.

 

[SaltBoy]

I think this is important information for somebody like you, Rossman.

 

[MichaelD]

Thanks, RossMAN!!! I"m calling right now...my Empirical sucks as it is.

 

[RossMAN]

Originally posted by: SaltBoy
I think this is important information for somebody like you, Rossman.

Exactly. I don't like receiving all this junk mail from cc offers, home mortage offers, car offers, etc. I already have enough debt to last me half a decade.

 

[MercenaryForHire]

Cripes. Move this to Hot Deals and stickify it. I'm sure it's most needed there.

- M4H

 

[RossMAN]

Originally posted by: MercenaryForHire
Cripes. Move this to Hot Deals and stickify it. I'm sure it's most needed there.

- M4H

Good idea, I'll PM the mods and see if they think this thread is worthy.

Thanks!

 

[RossMAN]

I just opted out and it was pretty easy but I think their system is somewhat flawed.

Called the toll free number 1-888-567-8688 chose option 2, option 3 to opt out for life, entered in my home phone they read my house number I either verified it's correct or not correct. This is where it's flawed because I receive mail at 4 different addresses (1 PO Box and 3 houses), assuming the house number is correct you speak your first name, middle initial and last name, then you enter your social security number and you're done.

 

[denali]

RossMan, What are the pros/cons of opting out. I agree not getting junk mail is good but does it in any way affect the ease/speed of getting aproved for a loan?

 

[RossMAN]

Originally posted by: denali
RossMan, What are the pros/cons of opting out. I agree not getting junk mail is good but does it in any way affect the ease/speed of getting aproved for a loan?

Most people would say there are no con's to this which is true. However what if you WANT credit and don't feel like applying for a cc? In my wife's case, she's only had credit here in the U.S. for 4 months since July 2002 (a starter $500 cc with her credit union). Because of junk mail solicitations from a cc she received a pre-approval offer which she opened, liked the terms, no fees, good rate, even 0% balance transfer until January 2004 so she signed and mailed it back. If she were on this opt out list she probably wouldn't have received that offer.

You don't have better chances of being approved for credit by being on junk mailing lists, you're just more aware of which cc's think they can offer you credit. Even if you receive pre-approval cc offers in the mail you can still be declined.

If cc junk mail doesn't bother you then don't do anything about it. I'm just tired of Citi Financial, Capital One, Providian and a dozen other cc issuers constantly bombarding me with credit offers.

 

[Yossarian]

This works. I called a few months ago and the number of credit card solicitations I receive has dropped to almost nothing.

 

[Kaervak]

Wow, thanks a lot. I get at least 10 Chase pre-approved apps a month.

 

[RossMAN]

PipBoy - That's awesome, I'm hoping the same thing will happen to me. The only mail that I want to receive is mail that I requested.

Kaervak - I only get about 1 Chase offer a month but that's 1 too many AFAIC.

 

[Kaervak]

Originally posted by: RossMAN
Kaervak - I only get about 1 Chase offer a month but that's 1 too many AFAIC.

I feel the same way. And to add a little humor, just got the mail and guess what? Another pre-approved Chase letter. Maybe I should keep it seeing as how it very well could ever be the last one I get.

 

[MichaelD]

Originally posted by: PipBoy
This works. I called a few months ago and the number of credit card solicitations I receive has dropped to almost nothing.

God, I hope it works for me too. I currently receive no less than a DOZEN preapproved apps per month...my empirical score sucks badly enough. Hopefully, by the time I buy my house in 6 months, it looks a little better.

 

[StageLeft]

I like receiving offers because they make me feel special. I also get a tiny amount of satisfaction knowing that capitol one is just a tiny bit poorer because of me (since they had to mail it), those dastardly bastards! Course, the environment is worse off by a tiny bit too.