The four major credit bureaus in the US. will be allowed, starting July 1, to release your credit info, mailing addresses, phone numbers to anyone who requests it.

You can, however, prevent credit card companies from releasing your personal information. According to the Federal Trade Commission,
 

"the national credit bureaus offer a toll-free number that enables consumers to opt-out of all pre-approved credit offers with just one phone call. Call 1-888-5-OPTOUT (1-888-567-8688) for more information"

(See http://www.ftc.gov/privacy/protect.htm for more details.  The FTC's website corroborates that this phone number is correct.  The FTC, by the way, is a government organization and not a commercial one.  Note the "gov" part of the website address.)

The toll-free number asks for information such as phone number, confirmation of address, name, and social security number.  Note in particular that the first option to opt out is only for two years.  Make sure you wait until they prompt you to press '3' on your keypad to opt out for good.

You can also take care of anyone else in the household while making only one call; you'll just need to know their social security number.

It's also possible to prevent credit card companies from releasing your personal information by doing this in writing.

The following sources provide more information about this.

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Federal Trade Commission:

For more information on specific rules contained in the Fair Credit Reporting Act, you may go to the FTC web site at http://www.ftc.gov.

Consumer Protection
( www.ftc.gov/ftc/consumer.htm )

Privacy Initiatives
( www.ftc.gov/privacy )

Sample letter to forward to the credit agencies at
http://www.ftc.gov/privacy/cred-ltr.htm

Some further information about how other people can ruin your credit rating and what you can do
( http://www.ftc.gov/bcp/conline/pubs/credit/idtheft.htm )

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FreeCreditAdvice.com
( www.freecreditadvice.com/articles/260400_149.asp )

How To "Opt Out" Of Credit-Related Marketing Lists You have a right to request removal, or to "opt out," from marketing lists for credit card and insurance companies. The credit bureaus must honor your request in accordance with recent privacy amendments to the Federal Fair Credit Reporting Act, enforced by the Federal Trade Commission (FTC). You can contact the credit bureaus and have them remove your name and address from major credit bureau lists for unsolicited credit and insurance offers for two years. If you wish to be removed for a more substantial length of time, complete and return an "opt-out" form, provided on request from the credit bureau, and you will be off these lists permanently. To request the "opt-out" form, you may call: 1-888-5-OPTOUT (1-888-567-8688). This number is good for all three credit bureaus. A phone call or letter to any one of the three nationwide credit bureaus will get you off the lists as well. Write or phone:

Equifax Information Services
P.O. Box 740241
Atlanta, GA 30374-0241
1 (800) 378-2732

Experian
National Consumer Assistance Center
P.O. Box 2104
Allen, TX 75013-0949
1 (888) EXPERIAN

Trans Union Corporation
P.O. Box 390
Springfield, PA 19064-0390
1 (800) 916-8800

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( www.co.henrico.va.us/police/opt-out.htm )

Telemarketing Fraud: "Operation Opt-Out"

In the United States there are three credit repositories, each with a geographic focus. On the East Coast, Equifax is the main bureau, with Experian (formerly TRW) in the central states, and TransUnion on the West Coast. All three repositories gather information on you, however the best, most complete report will generally come from the bureau focusing on the area in which you live. These three credit bureaus sell your personal information to direct marketers, and it can be categorized by a variety of parameters. Any subset of information that you can imagine can be pulled off of your credit report and sold - all without your knowledge or permission!

You can contact all three credit bureaus by one phone number: 1-888-5OPT-OUT, and request that your private credit information not be sold to anyone; this will be especially effective in reducing the number of credit card offers you receive.

You may also contact each credit bureau individually to receive a copy of your credit report. This task should be completed annually. While reviewing your credit report be particularly attentive to accounts that are open, but currently inactive. Closing these accounts will eliminate the risk of fraud and unauthorized use of this credit. Click Here for a sample letter to close inactive accounts. Equifax and Experian charge $8.00, while TransUnion charges $8.50 to Virginia residents. Free reports are available under the following circumstances:

Denial of employment, credit, or insurance within the past six months
Borrower certifies that they are unemployed or receiving public assistance
Borrower certifies that they suspect they are victims of fraud
Borrower is a resident of: Colorado, Georgia, Massachusetts, Maryland, New Jersey or Vermont.

Equifax, P.O. Box 105873, Atlanta, Georgia 30348, 1-800-685-1111 or online at www.equifax.com
Experian, P.O. Box 949, Allen, Texas 75013, 1-800-392-1122 or online at www.experian.com
TransUnion Corporation, P.O. Box 390, Springfield, Pennsylvania 19064, 1-800-851-2674 or online at www.tuc.com

To add a 100 word "Personal Statement", simply contact each credit bureau and ask them to add the statement. Usually, this is done to explain derogatory credit due to a major life event, but it can be used to alert for credit fraud (request personal contact before issuing credit).

If you do not wish to receive mail or telephone solicitations, including those pre-approved credit card offers, and long distance telephone offers, you can "Opt Out." To Opt Out, click on the following links:

Mail Preference Service
Phone Preferences Service

These requests are to be honored for five years after your notification. Please note that it is your responsibility to renew your requests every five years with the Direct Marketing Association.

Opting out will not end solicitations from local merchants, religious or charitable groups, professional and alumni associations, politicians, or companies with which you currently do business. Personal notification via mail and/or telephone is necessary to reduce solicitations from these organizations.

Reprinted under the Fair Use http://www4.law.cornell.edu/uscode/17/107.html
doctrine of international copyright law.
 
 

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