Overview
Time Cost: 10 minute phone call, optional card to mail in when it arrives
Monetary Cost: Free!
Requires: A few federally mandated options exist.
A. Phone : 1-888-567-8688
B. Online: (https://www.optoutprescreen.com/?rf=t)
C. Snail mail (but I don’t like this option..)
Background
The 3 big national credit bureaus have a special mailing list specific to offering consumers “firm offers of credit”. By law, they are required to offer an OPT OUT service, but [in my opinion] they confuse the issue with some language. Just remember you ALWAYS want to OPT OUT. Considering the frequency of identity theft, I think this particular type of snail junk mail is very hazardous if stolen.
Choices
They have a website, but I chose to use the phone option. The process to remove your name requires some sensitive information so the credit bureaus can confirm you are who you say you are. Be aware you must submit your Social Security Number to the bureaus for identity reasons. Since your SSN is sensitive information, I called directly to protect my information, rather than trust the USPS.
Process
I performed this task a few years ago, and have never gotten another credit card offer since. If I recall correctly… it has been a few years… the process had some graduated OPT OUT levels. I called and spoke to a human, which is enough to stop for some number of years (1 to 5 years). A few weeks after my phone call, I got a small paper postcard which I signed and returned, which as I recall, stops credit card junk mail for life. If I ever need another credit card, I’ll get one through my bank or call VISA / MasterCard / [etc] directly. I’m pretty sure I can change back to OPT IN and they will happily flood my mailbox with credit card offers, but the need has never arisen.
More info and sources
I recommend anyone performing this to briefly review the information at the Federal Trade Commission.
Read more here: http://www.ftc.gov/privacy/protect.shtm#Credit
And here: http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt063.shtm