Opt-Out Of Pre-Screened And Pre-Approved Mail

October 7, 2020

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Junk mail is alive and well in 2020 and much of that mail are per-approved offers for credit. You receive prescreened offers, sometimes called “pre-approved” offers, because you appeared on a credit reporting agency’s list of qualified borrowers based on criteria established by the lending company. Pre-screening works like a background check on your credit, looking at your credit score, age, location, and owned assets. Although it doesn't affect your credit score, it may be something you wish not to see in your mail box.  There is a way to opt-out of these pre-screened offers either for five years, or permanently. To opt-out for five years, visit optoutprescreen.com and select the five year option. You will be asked to provide certain personal information, including your phone number, name, Social Security number, and date of birth. Federal law ensures that the information you provide is confidential and may only be used to process your request. To opt-out permanently, you will have to mail a signed Permanent Opt-Out Election form from the website and it should be effective in 60 days. You can also opt-in anytime to begin receiving offers again. Keep in mind that some of these pre-screened offers might provide better rates or terms than other offers available in the market. Prescreened offers can also help you learn what’s available, and compare costs, at rates more favorable than those available to the general public.

SOURCE: Two Cents

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