If you’ve ever wondered why you receive solicitations for credit in the mail, it’s because your personal credit information is being sold by the credit bureaus (Equifax, Trans Union & Experian). They have gathered an enormous amount of credit, employment, rent and other types of information about you. They feel they own this information because they collected it. The very sad truth is Congress agreed with them!
Your Credit Information Is Being Sold Without Your Permission!
Now they turn around and sell what your house payment is and how much you owe on it to homeowners insurance companies. They sell what your car payment is and how much you owe to auto insurance companies. They sell your credit scores to credit card companies and banks. They sell your credit history to potential employers. This is your personal information being given out without your permission.
Additionally, when one of these companies pulls your credit, it reduces your credit score. Called a soft pull the amount is negligible, however, it does leave a “credit inquiry” on your record.
Opt Out To Protect Your Credit Privacy
You can opt out from receiving promotional offers and better protect your credit. Call toll-free 1888-5-OPTOUT (888-567-8688) or visit www.optoutprescreen.com for details. This allows you to opt out permanently or for five years.
Opting out will eliminate credit offers from companies that use pre-screening to determine their consumer targets. However, it will not stop solicitation from companies that just do mass marketing. Opting out will not hurt your credit scores.
In an age when information is too freely available, protecting it is important. Knowing how to do so is equally important.