My friend emailed this to me and I wanted to share it with you all ********* >Just wanted to let everyone know who hasn't already heard, 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. If you would like to 'opt out' of this release of >info, you can call 1-888-567-8688. It only takes a couple of minutes to do, >and you can take care of anyone else in the household while making only one >call, you'll just need to know their social security number. Be sure to >listen closely, the first 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. ********** This is very distrubing to me because one, there aren't FOUR major bureaus, there are 3. Second, the CRAs have been selling names to creditors for a very very long time now. That's how we get those pre-approved offers in the mail, etc. I told her to hold off doing this. This just doesn't sound right. I didn't call. I've been getting info in my bills regarding opting out from individual creditors but this just doesn't sit well with me. Just sharing.
No need to worry, that is a valid opt-out number. It's the same as 1-888-5OPT-OUT. The 4th CRA *may* be referring to ChexSystems. I believe they are a CRA by definition. Also, the laws *did* change very recently. That's why we have all been getting those "privacy" notices. Basically, we are all opted-in until we tell them otherwise. Our info stored within their databases are treated as a company asset which can be bought and sold. SofaKing
News Flash! I opted out a month and a half ago. Since then I've gotten more and better pre-approvals than before! I think these creditors are seeing you opt-out, have you in their database from previous PRM's and know that this is their last chance to market to you. Just a theory.
I know that the 1-888-5optout number is valid and will take care of this problem for two years. This isnt anything new it has been your right for quite awhile now..
1-888-5optout AS FAR AS I KNOW...THIS WILL KILL ANY CHANCE OF ANY PRE-APPROVALS, SOLICITATIONS, AND OFFERS TO APPLY...(EVEN IF THEY ARE NOT REALLY PRE-APPROVED)...THEY ARE OFFERS NOT AVAILABLE TO THE OPEN PUBLIC OFF THE STREET A LOT OF TIMES... SOME PEOPLE LIKE THEM...
I have been wondering about trying something with the optout manager. I am going to opt out on TU and Experian, opt in with Equifax. My reasoning - I get great offers from Experian promo inquiries, (I an look at the inquiries on my report, and see which CRA the promo offer came from) but then when I accept they all pull Equifax for underwriting. Consequently, my Equifax report is the one loaded with inquiries. In the past 2 years I have 1 inquiry on TU, 1 on Experian, and 19 on Equifax . Any observations? breeze
