Opt Out Prescreen

Ever wonder why you get so many credit card applications in the mail? How do they know who you are and why does it seem to follow you around as you move.

Turns out, it’s just credit agencies selling our data 😑.

Nevertheless, consumer protections are in place to keep things in check. OptOutPrescreen is the website that you use to opt out of credit agency solicitations. It’s jointly run by the major credit agencies, as a form of self-regulation.

Consumers can use this to opt-out of credit card offers. Through an online form, you can be free from solicitations for 5 years. If you use written mail, it’s lifetime.

Origin

The section of the Fair Credit Reporting Act (FCRA) related to this opt-out took effect in 2005.

FCRA itself has been around since 1970’s. It’s considered one of the first data privacy laws in America. It was a response to credit card companies fucking up details on credit reports, wreaking havoc on statement of character. In layman’s terms, clerical errors on their part or unsubstantiated claims would have profound impact on an individual’s life, with no way to correct.

Technically it’s part of the Fair and Accurate Credit Transactions Act of 2003. This was an amendment to FCRA. It stipulates that consumers are guaranteed one free credit report annually. It also mandated that merchants block out credit card numbers on receipts.

It’s baffling to think that these were not obvious defaults. The world was smaller and more trusting back then.