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According to the FTC: "Credit bureaus can release your credit information only to people with a legitimate business need, as recognized by the Fair Credit Reporting Act (FCRA). For example, a company is allowed to get your report if you apply for credit, insurance, employment, or to rent an apartment." But there's more: "In addition to the uses described above, lenders and insurers may use information in your credit file as a basis for sending you unsolicited offers. This is known as 'prescreening.' However, you have a right to opt out of these offers."
In general, you should opt out of "pre-screened" junk mail offers. You have a right to keep the credit reporting agencies from using your credit file in connection with any transaction that you do not initiate, specifically those "pre-approved" credit offers. An opt-out bureau run by Equifax, Experian, Innovis and Trans Union is set up to process such consumer requests. You call the toll free number, and answer the questions, and in a few days, you should receive a letter at the address you provided in the call. The letter will ask you to verify your name and provide corrections if there are any errors. Keep in mind, this process addresses only unsolicited "pre-screenned" credit card application offers, and the like. To exercise your right, notify the three agencies by calling +1.888.567.8688 (+1.888.5.OPTOUT). If you prefer, you may notify them in writing:
Trans Union
Marketing Opt-Out
PO Box 97328
Jackson, MS 39288 | Experian
PO Box 919
Allen, TX 75013 | Equifax Credit Information Services
Equifax Options
PO Box 740123
Atlanta, GA 30374 |
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