Consumers Overlook Opt-Out

Consumers are increasingly concerned with protecting their personal privacy and financial data. However, a survey by the Federal Reserve Board shows that 80% of consumers are unaware of their right to eliminate the pre-approved credit offers that flood their mail boxes (www.occ.treas.gov/fr/fedregister/70fr5021.pdf ).

The majority of consumers throw away credit card offers unopened. But these offers include all information necessary for a thief to establish credit in the consumer's name. Careful consumers must shred each offer. Additionally, the offers waste the resources required for printing and delivery.

However, federal law provides an easy way to stop the offers. Consumers can "opt-out" for five years with a single phone call to 888-567-8688. Opting out permanently requires requesting a form from the toll-free number or visiting www.optoutprescreen.com.

Consumers curious about the quantity and accuracy of information available about them may wish to check the InfoUSA service at www.daplus.us/PeopleSearch.aspx.

Entering a name and home town reveals surprisingly personal information, including address, phone number, years at the address, average house price in the neighborhood and average income in the neighborhood.

The web site also offers a background check to anyone willing to pay $50 which includes extensive information such as the person's roommates and associates, as well as an aerial photograph of the person's home.

InfoUSA allows consumers to opt-out by mailing a request including their name, address and phone number to:

Name Suppression Service,
InfoUSA Inc.,
P.O. Box 3502
Ames, IA 50010-3502

An extensive guide to opting-out of information sharing is available at www.rationalsimplicity.com/opt.html .

Tim Covell