http://www.msnbc.msn.com/id/8827007/
New FTC regulation makes opting out option more obvious
WASHINGTON - Daniel Solove wanted to do an experiment. So soon after he moved to Washington, D.C. last year to take a new job, he started saving credit card applications he received in the mail. After 10 months, the George Washington University Law School professor had gathered 69 pieces of junk mail -- 20 alone from Capital One.
He’s not ready to tape his mailbox shut, but he’s annoyed at the constant marketing pitches.
“This is an unreasonable amount of hassling here,” Solove, author of
The Digital Person, said. He was particularly frustrated by Capital One’s persistence. "I think their no-hassle card means they stop hassling you if you get it. I find them incredibly pushy."
Capital One didn't return requests for comment.
Solove’s frustration is shared by many Americans. Pre-approved credit card applications flood mailboxes around the country every day, and while it might seem impossible -– even more are headed to U.S. homes this year than ever before, by one measure. According to Synovate, which tracks the industry through consumer surveys, an estimated 1.4 billion applications were sent in the first quarter of this year. That’s 5.8 applications per household every month.
But for Solove, and others who feel inundated by credit card junk mail, a bit of relief is on the way. Starting in August, banks that mail pre-screened credit card applications to consumers must include a prominent notice advising consumers how to get off their mailing list. The new Federal Trade Commission regulations, mandated by the 2003 Fair and Accurate Credit Transaction Act, took effect Aug. 1.
Starting immediately, each mailing must include a notice in bold type on page 1 listing the phone number and Web site that allows consumers to cut off credit card solicitations. Consumers who call 1-888-5OPTOUT or visit
www.optoutprescreen.com can “opt out” of most mailings.
CK3: I'm glad that something is being done about this. I get these offers all of the time and I have to shred to so that nobody else can use them to apply for a card using my name. I have all of the credit cards that I need.
Linear Mode
