How to Opt Out of Preapproved Credit

Creditors can purchase lists of consumer information that meet a certain credit criteria from the credit bureaus. The creditor will use these lists to contact the people with offers of preapproved credit. While some people may find this of value, others find this an invasion of their privacy and would prefer their names not be provided to any creditor. The Fair Credit Reporting Act (FCRA) gives you the legal right to opt out. In doing so, the law prevents the credit bureau from disclosing your personal information to potential creditors.

Instructions

By phone

1

Call the toll-free number the credit reporting agencies have set up for consumers to opt in or out of credit offers. The number is 1-888-567-8688. The process is automated and you will have to "speak" your answers.

2

Listen to the beginning of the recording. Chose the "opt out" option. You will be asked for your home telephone number. Speak your phone number. If they can match it to a home address, you will be asked to confirm the address. If not, you will be asked to speak your address. Provide your name, date of birth and Social Security number to complete the process.

3

Repeat the process every five years. If at any point you wish to opt in and receive the credit offers, you can call and select the option to opt in. Then you will supply your information and be added back into the system.

By website

4

Visit optoutprescreen.com. (See resources.) This website was established by the credit reporting agencies for you to opt in or out of credit offers. You will have three choices: opt in, opt out for five years or opt out permanently. Select the option you wish to choose.

5

Provide your name, address, date of birth and Social Security number. If you are opting out permanently, print the form, sign it and mail it to the address listed on the form.

6

Return to the website if you later decide to opt in to offers. If you selected the five-year opt out, you will need to renew the opt out option in five years by repeating this process.