Having your credit checked is an important and necessary step when applying for credit. But few realize that each time their credit report is checked, the “inquiry data” that the credit bureaus have on file, becomes a commodity.
This information is sold by the credit bureaus (Equifax, Experian, Transunion, or Innovis) to lenders, and companies that sell and resell the same data and personal information.
That’s right – credit bureaus have found a way to increase their revenues at your expense… by selling your information without your permission.
The credit bureaus sell your name and address, phone numbers (both listed and unlisted), credit scores, current debt and debt history, age, gender, and income. For example, a creditor can buy a list of names and addresses of consumers who have a credit score of 680 or higher from a credit bureau and then flood their mailboxes with junkmail.
The Credit bureaus are selling your personal, confidential information to creditors… and making millions. Your privacy is being sold, not just once, but over and over again.
What can you do about it?
The good news is that you can make it stop. Pass this information to everyone you know.
The credit reporting industry has provided a way to “opt out” and remove your name and address from these lists. To opt-out, call 1-888-567-8688 (888-5-OPTOUT) or visit www.optoutprescreen.com. It takes about 48 to have your name and other private information removed from the lists.
You can choose a five year opt out option, which can be done on-line, or a lifetime option. If you decide to opt-out permanently, you will need to fill-out a form and mail it in. The form is available on www.optoutprescreen.com as well.
If you don’t have 48 hours and a credit report needs to be run prior to the 48 hour waiting period – lookout for suspicious phone calls and offers from creditors, who have purchased your data.
Attention: Opting out will also protect you from “pre-approved credit offers” arriving via email… This is one of the biggest causes of the identity theft in the US.
Remember: If you are working on establishing your credit and need to open a credit card, by opting out you will remove your name from the lists for pre-approved offers.
We believe it is every consumers right to keep their personal and financial information private and that your information should not be shared without your consent or permission. Unfortunately, these unsolicited marketing tactics are quite legal.
Take 5 minutes right now – PROTECT YOURSELF!
Call: 1-888-567-8688 or visit www.optoutprescreen.com.