Are you tired of going to the mailbox and finding a never-ending stream of offers for new, improved, interest-free, fast-score credit cards? I have a phone number and a website that you can use to shut them down for five years. Or even definitely.
(Don’t worry. If you start to miss this spam selection, you can also use the information to re-subscribe.)
These âpre-screenedâ or âpre-approvedâ offers for credit cards or insurance come about because businesses decide what it would take for borrowers to qualify for their product. Then, they poll the credit bureaus – Equifax, Experian, Transunion, and Innovis – for a list of people who meet those standards.
Let’s go for “pre-approved” offers (aka “junk mail” for certain recipients).
Inquiries from credit card companies will not affect your credit score. They just help to generate a flood of pre-approved requests to be delivered by the postal service. Turns out the credit card companies don’t want to waste their time either, so they’ve put a system in place.
There are two options when unsubscribing. One is to opt out for a period of five years. This can be done by calling 888-5-OPTOUT (888-567-8688). The second method is to use the website: www.optoutprescreen.com.
In addition to opting out for five years, consumers can permanently opt out of the website – but you’ll need to print and sign a form and mail it in. There is no form for the five-year option.
The website may also be used to re-register to receive pre-selected specials if you change your mind.
In either case, be aware that consumers must provide their name, address, social security number and date of birth.
A spokeswoman for the Consumer Credit Reporting Companies said that even though the association’s four member companies will have delisting requests within five days, it may take longer before there is a reduction in the rate. number of requests arriving by mail.
âYour name may have already been provided to some businesses that have a mailing in progress,â she said. Your name will be added to the unsubscribe list for the next mail cycle.
She added that not all credit or insurance companies use consumer credit reporting companies to compile their lists, so inquiries will always be sent from those companies. But registration is expected to result in a noticeable reduction in applications within four to six weeks.
The credit industry website notes that if you opt out you will not be among “the many consumers who can greatly benefit from easy access to information on credit and insurance products that may not be available. be available to the general public “. But then again, you might not want all of these deals in the first place.
Choose wisely, Grasshopper.
Lonnie Brown can be reached at [email protected].