Credit reporting agencies sometimes share your credit information without your knowledge. A lender will check your credit history when you apply for a loan, and you sign an application giving it permission to do so. But you may not realize that the agencies share some of your credit information with certain companies even if you did not give your express consent. These firms use it for marketing purposes. They can legally continue to do so unless you specifically stop it.
Step 1
Go to the official OptOutPresceen.com, which is operated jointly by Innovis, TransUnion, Equifax and Experian. It acts as a clearinghouse to stop all four of those consumer reporting agencies from sharing your credit information upon your request.
Step 2
Click the blue "Opt-in or Opt Out" button at the bottom of the web page, which will bring you to a secure form. Make the page's address starts with https in your brower, as this confirms the form's security.
Step 3
Choose the electronic opt-out, which will stop your credit information from being shared for five years. Or choose the mail option, which puts a permanent stop to the sharing unless you specifically opt back in. These selections will be listed at the bottom of the web page.
Step 4
Fill out the opt-out form, which will require your name, address, birth date and Social Security Number to verify your identity. Submit the form electronically or print it out and follow the mailing directions that the site will provide. The Federal Trade Commission (FTC) states that it might take up to 60 days for solicitations to stop even though the agencies will stop sharing your credit information within five days.
Step 5
Mark the date you opted out on your calendar if you chose the electronic option. Carry it forward every year as a reminder to repeat the process when you get close to the end of the fifth year. You can renew your request indefinitely.
Tips and Warnings
- It can be beneficial to have your credit information shared at certain times, according to the FTC. You may receive preapproved credit, loan and insurance offers if you have a good credit rating. You can opt in for solicitations temporarily if you are in the market for a charge card or insurance, then remove yourself again later.
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