How to restrict companies from accessing your credit history

How to restrict companies from accessing your credit history

In the USA, conditions for credit reports are set in § 1681b. Subsections (a)(3)(A) and (c)(1)(B) allow companies to obtain such information e.g. if they plan to send pre-approved credit cards. An interesting fact, which is not communicated in the official website, is that consumers can opt out according to subsection (e):

A consumer may elect to have the consumer’s name and address excluded from any list provided by a consumer reporting agency … in connection with a credit or insurance transaction that is not initiated by the consumer, by notifying the agency … that the consumer does not consent to any use of a consumer report relating to the consumer in connection with any credit or insurance transaction that is not initiated by the consumer …
(A) through the notification system maintained by the agency …; or
(B) by submitting to the agency a signed notice of election form issued by the agency for purposes of this subparagraph.

You may find out more about opt out options by visiting http://www.ftc.gov/privacy/protect.htm#Credit

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