Are you sick of getting credit card offers in the mail?
More importantly, do you ever wonder how these companies are able to track you down in order to offer you a card that could potentially damaged your credit rating?
Turns out credit card companies use target marketing techniques and services to keep their business going. In some cases, the method is blatant, such as individuals trying to get you to sign-up for the card on a college campus or near an outdoor Farmers’ Market. In other cases, like the offers that are sent via snail mail, credit card companies have obtained your personal information from major credit bureaus. Typically, the higher your credit score, the more offers you will receive in your mailbox.
But, here’s something that not everyone is aware of: just because you get a credit card offer in the mail, doesn’t guarantee that you will automatically qualify for the card. The pre-screened offers are based on information the credit card companies have at the time they mail out their invitation. However, if you fill out the application and the information you provide doesn’t match the information the credit card company has on file (e.g. your employment status has changed or you no longer meet the financial criteria for the offer) you will receive a letter declining your application.
If you are sick of having your mailbox flooded with credit card offers, there are steps you can take to stop the overflow. One method is to write a letter to the credit reporting agencies and have them take your name off their lists. The major ones to target are: Experian Target Marketing, P.O. Box 919, 701 Experian Parkway B2, Allen, TX 75013; Equifax Options, P.O. Box 740123, Atlanta, GA 30374-0123; Innovis Data Solutions, P.O. Box 1358, Columbus, OH 43216-1358; and Trans Union Opt Out Request, P.O. Box 505, Woodlyn, PA 19094-0505.
By taking the initiative to stop incessant credit card offers from crowding your mailbox you can help keep your budget in check and save a tree at the same time.