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ArticlesOpting Out of Pre-approved Credit OffersOne of the least known amendment to the Fair Credit Reporting ACT (FCRA) is the consumers right to opt-out of pre-approved credit offers. If you've ever looked at your credit report you might have noticed the section at the bottom for soft-inquiries into you credit file. The FCRA allows the big three credit bureaus to use their credit data to compile lists of consumers and sell them to credit card companies and other lenders. Databases allow the credit reporting agencies to very specific target lists. For example, a credit card company might ask for a list of men between 30 and 40 who live in southern california and have at least 2 credit cards with high balances. The use the list to mail out pre-approved 0% introductory rate credit cards offers. Some of us receive 2 or 3 of these offers every day in the mail.Let's talk about how we can Opt-Out of this mailbox spam ! The Toll-Free Number for Opting Out is: (888)-5-OPTOUT The recorded greeting an instructions are confusing and a bit time consuming (probably on purpose). Hopefully they will create a website to opt-out in the future. Other Opt-Out Resources Opt-Out from telemarketers: FTC's Do Not Call Registry The Direct Marketing Association (DMA) has an opt-out program. Partcipation by marketers in voluntary so it won't completely reduce snail mail spam. However, it should reduce junk mail. Opt-Out of junk mail with the Direct Marketing Associations Mail Preference Service
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