03/ 07/ 2008
It always pays to read the fine print, and this is especially true when it comes to the hundreds of unwanted credit card offers you find in your mailbox each year. There is probably not a day that passes that you don't get at least one junk mail enticement to sign up for a credit card for which you've been "pre-approved." Between airlines, hotels, associations and the credit card companies themselves, billions of credit card offers are sent out every year.
Want to put a stop to the junk mail madness? First you have to get your name removed from the companies' mailing lists—and it's easier than you might think, as long as you're willing to take action.
Those terms and conditions statements that accompany the mailings include instructions for opting out of what is called a "pre-screened offer." Pre-screening means that the credit card issuer has checked your credit rating and decided you could possibly qualify for this card. The wording is suspicious because they don't want to be sued if you apply and it turns out you don't actually qualify.
But, just as they have to check with the credit bureaus to determine your credit-worthiness, you can instruct those bureaus to tell the credit companies "no thanks." The easiest way to opt out of myriad credit card offers is to write one of the following credit card reporting agencies to locate the contact information you need to remove your name from the companies' lists.
- Equifax Options, PO Box 740123, Atlanta GA 30374-0123
- Experian Target Marketing, PO Box 919, Allen TX 75013
- TransUnion Opt out Request, PO Box 505, Woodlyn PA 19094-0505
And if you have the time to be placed on hold for a while, call the credit card reporting agencies toll-free at 888-567-8688.
Don't feel discouraged if you continue to receive credit card offers in the weeks after you write or call an agency. These companies line up offers like bullets in a machine gun, so it will take some time for your name to be purged from the lists and for the junk mail to diminish. Before you're officially removed from the lists, make sure to always shred these offers, as they can be used in identity theft schemes. Also, when you apply for things like hotel loyalty programs, always check the no-solicitation options to forestall getting back on new lists.
