If you live in the US, you probably are groaning even thinking about it. If you work in India as a software engineer or as a professional in a big city, you pretty much know what I am talking about. Why do the credit card companies torture us with the unending mailers for pre-approved credit card offerings?. I have had days when I got 4 of them. On an average I get about 10 pre-approved card applications a month. And that doesnt include the ancillary credit card offerings like magazine subscriptions and credit protector schemes and what not. I have cursed them so many times, and still fallen short of how many preapproved applications I have received from them.
The bad news is that it never gets better. As your credit improves, the offers pour in more and more. The good news is that you can actually stop this mail bombardment. The credit bureaus offer you a choice of phone in (1-888-5-OPTOUT), mail in or an online mechanism of opting out of receiving the applications. All methods come with a big caveat- revealing your social security number. While there is no obvious threat to doing so, such a move needs to be done judiciously. Here are some websites to help in the decision making process.
http://www.kuro5hin.org/story/2004/3/1/13940/79585
http://www.privacyrights.org/fs/fs24a-optout.htm
http://www.privacyrights.org/fs/fs24-finpriv.htm
https://www.optoutprescreen.com/?rf=t
Hope this helps. And as a friend told me, never trash your preapproved card offers as is. Shred them to avoid any possibility of privacy theft.
Update: As per a legal ruling, the preapproved ads I have been getting since August last week (after the time of this posting) give me the option of opting out from the ads. The notice bears the aforementioned number and website for the same.
To opt out of telemarketing calls, please use www.donotcall.gov. Its very effective.
15 comments:
not even a day passes without getting these pre approved offers....though i get once in a week or two my roomies get almost daily....have u opted out giving ur SSN??
I too get a lot of them ... got to shred them. I just tear and trash them. such an irritating thing.
heard that in India sales reps come and torture people for credit cards.
India the problem is not online or direct mailers..its those irritating phone calls that keep torturing you...
Thank you sir..I appreciate it.! Californians opted out of Tele marketers and it is a big blessing..I don't get tele marketing calls anymore.
I didn't know about the 1800 number for opting out.! I would certainly call them tomorrow to avoid this pain in the neck..junk mails.!
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Anonymous,
Is this a joke???
me
I am in the process of figuring out the best option amongst the ones I listed to opt out.
Jagan
You can opt out online from India. That should be the easiest way to do it.
Anonymous
Like in the US, there should be a way to officially block all such soliciting calls.
Saran
I strongly recommend shredding them. I have heard stories of people picking torn preapps and applying on your behalf and all.
Narayanan
You are welcome. The longer you stay in the US, the bigger a menace you encounter with these credit card issuers. And you can optout of any telemarketing calls with www.donotcall.gov registry.
ha ha, anonymous, when did you start this "public service" :) but you have posted it in the wrong place :)
Having been here only a year, I haven't got too many offers yet, but I've been told how crazy it gets by my friends.. I'm waiting.. (rubbing hands with glee).. :-)
once icici gave preapproved student cards in our college.after a month or so a close friend of mine wanted to discontinue and gave back the card to a representative in CLEAN form.That guy blew of 8500 Rs. and the issue is still pending and i am sure that it is gone forever
Leon
Trust me, once it starts, it never stops.
Badri
Rule No 1 with cards. You cut a credit card that has been cancelled, into atleast 4 pieces personally.
neither credit card nor offers here..
Mummy :(
ioiio
Just a little while longer...
hii...thanx for dropping by at the 2050 blog, ill send you an invite and you can sign in anytime you want. Ive blogrolled you too. Thank you.
P/s: about the own hosting thing, well have to disccuss soon.
In addition to following up on the links mentioned, one prudent thing to do, is to call your current credit-card companies, and explicitly forbidding them from sharing information about you to sister companies and third-parties.
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