Was this forwarded to you from a friend with a suggestion to dial a toll free number to opt out of this information sharing free for all, and to e-mail to all your friends, and a comment to the effect that they have “tried it and it works”.
What is wrong with this e-mail?
To begin, the credit bureaus do not and will not release your information to “anyone who requests it” The person requesting this information must have a legitimate reason for requesting it as defined in the “Fair Credit Reporting Act”. Typically you must either initiate a transaction with the business requesting the information, or give it express permission to pull your report.
Generally the toll free number is a real “Opt-Out” service, but not what you may be expecting. It normally is an opt out service for credit card solicitations, which simply removes your name from a marketing list that is sold to credit card lenders.
Any account you open with any financial institution, bank, or lender must give you information about who they share their information with and give you the option to prevent having some of your personal information shared or sold.
Read the fine print, let the company know that you do not want your information shared or sold. You may need to fill out a form, but they don’t make it easy. Generally there is no self-addressed stamped envelope. You have to do all the work yourself.
One other thing, avoid using a debit card in restaurants if at all possible. It is one of the easiest ways for any unscrupulous individual to copy your number, or run it through a device that copies all the info from the magnetic strip and soon your bank account may begin to be depleted. Another reason to review your account regularly. With a credit card, the most you can be held liable for in most cases is $50.00. There is no limit with a debit card. Check with your bank to see what their policy is in that regard, some may have limits, but it is likely your responsibility to catch the problem within a set number of days.
Any questions can be directed to Benchmark Title at 618-239-3750. Please feel free to call or email:
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