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Tips

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Only One Site for Free Credit Reports

Despite what may seem like dozens of websites being advertised on television as offering free credit reports, there is only one site authorized by the federal government
to handle such requests: www.annualcreditreport.com

The Federal Trade Commission warns that consumers may be misled by unauthorized web-sites that have emerged since the Fair and Accurate Credit Transactions Act of 2003 became effective in September 2005.

The law allows you to order one free copy of your credit report from each of the three national consumer credit reporting companies (Equifax, Experian and TransUnion) once every 12 months.


— extracted from Consumer Reports Money Advisor, December 2006.

 

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Opt Out

By Paul Lee (HHS/OIG/OAS)

Are you tired of receiving annoying telephone calls in the middle of your dinner? Do you hate shredding the reams of pre-approved credit card offers you get in your mailbox? Unless you are seriously thinking about applying for these offers, there are solutions to reduce and limit telemarketing offers and unsolicited mail. 

The national credit bureaus (Equifax, Experian, Trans Union, and Innovis/CBC) offer a toll-free number, (888) 5-OPT-OUT, which allows you to remove yourself from pre-approved credit offers. The credit bureaus offer two options: a five-year pause, or permanent removal from their marketing list.

For the second option to take affect, you need to complete and return a form. Once submitted, you should see a major decline in unsolicited offers within a few months. Opting out does not affect your credit score. 

In addition, the Federal government has launched www.donotcall.gov, a website where you can sign up to reduce the number of those dinnertime telemarketing calls for five years. Simply enter your telephone number and email. Within 72 hours, an email will be sent to you with a link to confirm your decision to be added to the “do not call” list. You can re-register near the end of the five-year pause. For more information, visit www.ftc.gov

 

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