Looking to Reduce Junk Mail for New Credit Cards
Are you checking your mailbox every day and finding it cluttered with offers for new credit cards? Millions of other consumers are inconveniently dealing with the same dilemma and you can find a solution to reducing credit card junk mail with the help of the Federal Trade Commission (FTC). The FTC offers ways for you to opt out and avoid receiving unsolicited, prescreened credit card offers by phone or online through the FTC website.
How to Opt Out?
To avoid receiving prescreened credit card offers you can visit www.optoutprescreen.com or call 1-888-5-OPT-OUT (1-888-567-8688). You either have the option to opt out of receiving prescreened credit card offers for five years or forever. You will be required to provide your name, social security number, birthday and other personal information. The FTC ensures all of your personal information will be only used to validate your request to opt out of prescreened credit card offers and will be kept confidential.
You can also opt out of receiving prescreened credit card offers by sending the major credit reporting agencies a written request. You must include your name, social security number, birthday and a phone number.
P.O. Box 740123
Atlanta, GA 30374-0123
P.O. Box 919
Innovis Consumer Assistance
P.O. Box 495
Pittsburgh, PA 15230-0495
Name Removal Option
P.O. Box 505
Woodlyn, PA 19094
What is prescreening?
Prescreening, also known as preapproved, is the method credit card companies use to determine if a consumer is qualified for their services. Credit card companies typically prescreen a consumers’ credit report and credit score by working with credit reporting agencies to identify consumers that qualify for the credit card. A consumer may be prescreened on other factors as well. Credit cards that are not prescreened are still allowed to be mailed to consumers who have opted out.
In the event that you do sign up for a new credit card, it is important to understand your rights under the Truth In Lending Act (TILA). TILA enforces credit card companies to make certain disclosures to consumers before signing up for a credit card. Consumers must be informed about interest rates, frequency of payments, so-called hidden fees, and their right to cancel. A credit card company that fails to provide the consumer with specific information as noted in TILA could result in a rescission. Rescission is when a loan or credit transaction is disentangled and canceled, and all fees are paid back and returned to the consumer. To learn more about your TILA rights and potential rescission please read out article Truth In Lending Act. The lawyers at Doucet & Associates Co LPA in Ohio can help you if your TILA rights have been violated by a creditor. Please call us at (614)944-5219 or send us a message online if you are seeking legal representation.