JaBbA's Hut

It's the privacy policy that really raises a few eyebrows. The information you submit will be available to the four credit reporting companies running Optoutprescreen as expected but the fine print reveals the following:

Optoutprescreen.com or the Consumer Credit Reporting Companies, may also disclose any of the information collected, as described above, to affiliates of the Consumer Credit Reporting Companies, which are companies that are related to one of them by common ownership or affiliated with one of them by common control, or to the associated consumer reporting companies who utilize a nationwide consumer reporting company system and that may have information about you."

At first glance this might look a little fishy but think about it before you let paranoia take hold of you. You want to stop as many pre-approval offers as possible and this means that your opt-out request needs to be available to anyone that might send you an offer. We already know that by default they can run your credit report anyway so what you are adding to the mix is that you don't want them to and you don't want their offer. There is some more fine print which might make more than a few of you scratch your heads:

Each third party receiving this information is either required to (i) abide by the restrictions in this privacy policy and is not permitted to use or disclose the information for any purpose other than as described in this policy, or (ii) receive and use the information in compliance with the Fair Credit Reporting Act, Gramm-Leach-Bliley Act and other regulatory and legal requirements.

This gives the credit-reporting affiliates the option to use one of two sets of rules and regulations. It does not say that they can now use your information anyway they see fit. If you go ahead and opt-out via Optoutprescreen and you are still getting offers three months later you should probably ask questions but give it a chance to work. Your information is already out there so submitting this request only checks the "Opt Out" box in their system. Keep in mind that the credit card companies will try to get you agree to opt back in every time you sign up for credit so read the fine print on just about anything you sign up for involving credit or banking. If you see something such as "We reserve the right to run credit checks on you and send you credit card pre-approvals if you sign this form" and then you sign the form you have no one but yourself to blame. Once you opt out, pay attention any time you sign up for anything so you don't find yourself needing to opt out on a regular basis.