If you're like me, you receive several "pre-approved" credit card offers in the mail each week. If so, you've probably asked yourself "Where do these come from and how can I make them go away?"

 The bad news : It is common practice for the three national credit repositories ( experian, equifax and transunion ) to compile and resell consumer data to marketers. In fact, they make millions of dollars sharing our names, addresses, credit profile and other demographic information. The repositories also offer programs where marketers can purchase a list of all consumers of a certain profile who have a credit report pulled for any purchase, car, home, furniture, etc. These lists are called "credit trigger leads:. We are seeing clients bombarded with phone calls the day after they apply for a mortgage or a car loan. There is no limit to the number of marketers the leads can be sold to, so it is a race to see who can contact you the quickest or most often. The ironic thing about these "pre-approved" offers is the marketers do not know enough about you or your financial situation to make a real "pre-approval" without some conditions that are buried in fine print. While the practice is legal under the Fair Credit Reporting Act to send "firm" pre-approvals, it is being widely abused. Connecticut has already placed a law on the books to prohibit marketers from using credit triggers in the solicitation of business and many more states are in the process. Not only is the practice considered being an invasion of privacy, many individuals are concerned about identity theft as these pre-approvals float around in the general mail service.

The good news : You can remove your personal information from all of this. Under Federal law you have the right to "opt-out" from all pre-screened offers by calling (888) 567-8688 or going online to www.optoutprescreen.com. A 1996 amendment to the Fair Credit Reporting Act required the credit bureaus provide an pt-out opportunity for consumers who do not want their personal data sold to credit grantor's for solicitations. I would highly recommend that you take advantage of this pot-out opportunity. Particularly in light of the growing wave of identity theft.

You can opt-out for either five years electronically or select the form to sign and return for permanent removal. By opting out you will no longer receive the pre-approval offers. You can opt back in at a later date if you so desire.

I hope you have found this information useful and informative. If I can ever be of service to you or your friend/family, please don't hesitate to contact me.

Melissa Grant, Affiliate Broker, Real Estate Professional

First Realty Company

931-484-1005 office