PSA: Get rid of credit offers

[retirementguy1]

Public Service Announcement: So I'm trying to make lemonade out of lemons. I got a letter from a major credit card company saying a credit card has been opened in my name. I will call them tomorrow and work it out. You can go to annualcreditreport.com once a year and check your credit reports from the three major credit bureaus. Looks like only one credit card has been opened. You can freeze your credit but you need to contact each bureau individually which I will do. I also stumbled across this gem in the FAQ's, "You may ask the nationwide consumer credit reporting companies to leave your name off lists for pre-approved, unsolicited credit and insurance offers. Call 1-888-5OPTOUT (1-888-567-8688)." They are sending me some paperwork and it will remove me FOREVER! If you don't return the paperwork it will remove you for five years. I just wanted to share the info. I'm assuming this is for the US only. If anyone has any advice I'm open to it.

 

[scrabbler1]

I just did that 888-5OPTOUT thing in the last few weeks to get my name off AMEX's list. I also did something similar on line to get me 5 years and pritned out a form to mail in to get my name off those lists forever.

 

[audreyh1]

Thanks for the info.

 

[Telly]

........I also stumbled across this gem in the FAQ's, "You may ask the nationwide consumer credit reporting companies to leave your name off lists for pre-approved, unsolicited credit and insurance offers. Call 1-888-5OPTOUT (1-888-567-8688)." They are sending me some paperwork and it will remove me FOREVER! If you don't return the paperwork it will remove you for five years.........

I did the internet portal entry method of "Opt Out" a year ago. Unfortunately, it has no effect on any business that you have a "relation" with. So I am still bombarded without mercy for CC offers that have a link to frequent flier program. And they are the ones with a fold-up mailer, that has the extra-sticky goo in it, that I have to separate goo out so I don't clog-up our shredder.
I don't know if I was finally able to stop AMEX, I'll have to pay more attention to who's CC offer I'm dismembering and triaging to garbage-shredder-recycle disposal methods.

I had bigger hopes for "Opt Out" than what occurred.

 

[GTFan]

Heh if I opted out of credit card offers I wouldn't currently have enough hotel bonus points to stay a month in a variety of chains. As long as you want to play the signup bonus game, you want to see those new offers in the mail because a lot of the really good ones are targeted and not available to everyone.

 

[Telly]

...I don't know if I was finally able to stop AMEX, I'll have to pay more attention to who's CC offer I'm dismembering and triaging to garbage-shredder-recycle disposal methods.

I had bigger hopes for "Opt Out" than what occurred.

UPDATE:
AMEX offers are continuing to come. Don't know why, I have not had any sort of relationship with them since early 2000s when I last had a corporate card with them.

Maybe they are using ANY relationship, no matter how long ago as an excuse for ignoring the Opt-Out.

If I go this way.......

St. Peter: Hey, Telly, glad you showed up, we've got a boxful of AMEX card offers for you that have been waiting here...

Or if I go another way.......

Old Nick: Hey Telly, yuh know that guy Dante was wrong, there are actually SEVEN levels, we've got AMEX offers for you to open for all eternity on level seven! And no letter opener!
BWaaaHaaaHaaaHaaaa tag'm for Level 7!

 

[athena53]

Heh if I opted out of credit card offers I wouldn't currently have enough hotel bonus points to stay a month in a variety of chains. As long as you want to play the signup bonus game, you want to see those new offers in the mail because a lot of the really good ones are targeted and not available to everyone.

Yeah, I wish I could stop SELECTED banks from offering me credit cards, but DH and I have done really well with bonus miles/points. As our current loyalty cards expire, I'm going to cancel them with the exception of one that lets you select points or cash (Chase Sapphire), but take advantage of any new cards that offer a bonus for which I'm eligible. In fact, if Fidelity approves my application for the 2% rebate card, Chase might go, too. Oddly, I wasn't approved instantly on-line for that. This was the first application I've made since retiring, though, so the change in employment status and the decreased income might have kicked it out. I've got $400K in a Fidelity account and pay our other cards in full so they should approve it.

 

[PhrugalPhan]

Heh if I opted out of credit card offers I wouldn't currently have enough hotel bonus points to stay a month in a variety of chains. As long as you want to play the signup bonus game, you want to see those new offers in the mail because a lot of the really good ones are targeted and not available to everyone.

I soooooo agree with this. Back 6-7 years ago I was able to make a few thousand extra cash (yearly) off of free loans from the credit cards. Lately its been signup bonuses that this year has paid for my son to visit for 2 weeks this summer (cross country flight), and will pay for my Florida vacation in November (timeshare will be free from my mom) . And then there is the stack of gift cards I got via signup bonuses I have yet to use (Home Depot, multiple restaurants, WalMart, & more). In fact that reminds me, I need to go sign up for the targeted offer I got this week so I can get a 4 free nights at national hotel chain.

 

[GTFan]

I just got one recently for the Fifth Third Bank rewards card - gave 50,000 points after a $2k spend, no annual fee. This was essentially getting a $500 check from them, and I won't be keeping this card after I get the bonus.

For those wondering, no this doesn't impact your credit score much at all - I've been doing these games for years and my FICO is still around 800. Tons and tons of cards have been opened and closed.

 

[mystang52]

"I just got one recently for the Fifth Third Bank rewards card......"

Sorry for the thread creep but I can't resist: Who decided on that name?

 

[lemming]

Fifth Third Bank - Wikipedia, the free encyclopedia
I have heard the name before but never knew why the weird name. (I had gone to google it before you posted)

edited...off topic...I just wandered around on web and found a livestream link of newscasts. I clicked on Nashville and the story running was about a bank robbery at Fifth Third bank- since I haven't heard the name in years I thought that was weird....

No one sends me cc applications with gifts-just balance transfer offers which don't do me any good.

 

[Badger]

If you contact all 3 credit bureaus and have your credit frozen does it make any difference? That way no one can get new credit in your name including you unless you unfreeze.

I know it can be annoying to unfreeze if you want to buy on credit or get another card but in my case I already have 2 and a debit card linked to an account where I keep a small balance for emergencies. I also pay cash for any purchases that I can't charge on the card and pay off at the end of the month.

The debit card is left home and only carried when traveling. If that gets stolen there won't be much in the account for them to access. So when offers come in the mail I just tear them in half and toss it in with the used cat litter.

Cheers!