December 6,2006
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New Program Allows Opt-Out of Unwanted Card Offers
Thanks in part to Rep. Bob Bastian, consumers may now find themselves with recourse from unwanted credit card solicitations. These card offers not only clog your mailbox, but open you up to security risks if a mail thief decided to take advantage of your offer, making you an ID theft victim. Right now, any card company can get in touch with one of the consumer credit reporting companies (TransUnion, Experian, and Equifax being those three everyone knows) and help themselves to a consumer's credit rating and information for solicitation.
Under the new program, consumers can call 1-888-567-8688 or visit Bastian's web page (www.BobBastian.com) for a link to the FTC opt-out site. Consumers will be asked to enter their information, and choose whether they want to opt for for 5 years, or indefinitely. Within a few months of opting out, consumers should see a dramatic decrease in the amount of unsolicited credit card offers.
Chalk this one up as a big victory for the side of consumers, as the threat to security that spam credit card offers creates is a major problem, one that the FTC deals with constantly and cites as among its biggest complaints.