Posted by: thecreditmaven | September 26, 2008

How To Stop Those Pre-Approved Credit Card Offers!

When was the last time you received a pre-approved credit card offer in the mail? Was it yesterday  –  last week  –  last month? Did you know that these credit card offers are one of the causes of identity theft? According to the FBI, identity theft is the fastest growing crime in the United States.

Have you ever wondered, “How do I stop receiving these things?”

Here’s how. Go to:                   

                  

and go to the bottom of the page and click on: 

 

On the next page, you need to select one of the following:

  • Opt Out for a period of five years (done electronically)
  • Opt Out for life (requires form to be printed and mailed in)

Click the SUBMIT button at the bottom of the page.

On the next page, you’ll need to complete your personal information and click on the CONFIRM button. That’s it.

Now that wasn’t too bad now was it?

Earlier, I referred to pre-approved credit card offers as one of the causes of identity theft. Here’s the point I want to make. Let’s say you receive a pre-approved credit card offer in your mailbox. Well, before you get home to collect your mail someone goes through your mailbox and removes this offer. Now all that person has to do is complete that application form and change the mailing address and SHAZAM – now there are 2 of you.

The bad part is you won’t realize it until you try to get financing for a purchase and they access your credit report. All of a sudden you have one or more credit cards maxed out that may or may not have ever been paid. And if they haven’t been paid and have gone into a charge-off or collection status, that’s not only going to be reflected on your credit report it’s going to decrease your credit score.

Remember that this all started with a credit card offer that you never requested.

By opting out of pre-approved offers, it won’t totally stop all of the mail we get. HOWEVER, it will slow it down tremendously. Don’t give identity thieves an easy target to strike you with. It will also, hopefully save a few trees from being cut down.

Do you remember the song by The Supremes – Stop in the name of love? (before you break my heart)

A new one should be recorded:    Stop in the name of credit!  (before you lower my score)

Here’s to your Empowerment!!

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