How to Opt Out of Information Sharing | Credit 101 Ep. 195

Opting out of information sharing can help protect your privacy and reduce the risk of identity theft. Here’s how you can manage and limit the sharing of your personal information:

1. Opt Out of Preapproved Credit Offers

• Call or Visit Opt-Out Services: You can opt out of receiving preapproved credit card and insurance offers by calling 1-888-5-OPT-OUT (1-888-567-8688) or visiting OptOutPrescreen.com. This will prevent your information from being shared with lenders and insurance companies for promotional purposes.
• Opt-Out Options: You can choose to opt out for five years or permanently.

2. Manage Data Sharing Preferences with Companies

• Review Privacy Policies: When you sign up for services or products, review the company’s privacy policy to understand how they use and share your information.
• Adjust Privacy Settings: Many companies allow you to adjust your privacy settings. Log in to your accounts and look for options to limit data sharing or opt out of marketing communications.

3. Opt Out of Data Brokers

• Request Removal: Data brokers collect and sell personal information. Contact these companies directly to request removal from their databases. Some common data brokers include:
  • Experian: Experian Opt-Out
  • Acxiom: Acxiom Opt-Out
  • LexisNexis: LexisNexis Opt-Out
  • CoreLogic: CoreLogic Opt-Out
• Follow Instructions: Each company will have specific instructions for opting out. This often involves filling out forms or submitting a written request.

4. Opt Out of Online Tracking

• Browser Settings: Adjust your browser settings to block cookies and prevent websites from tracking your online activities. Most modern browsers offer privacy settings to manage cookies and tracking.
• Use Privacy Tools: Consider using browser extensions or privacy-focused search engines that block tracking scripts and protect your online activities.

5. Unsubscribe from Marketing Emails and Calls

• Unsubscribe Links: Use the unsubscribe link at the bottom of marketing emails to stop receiving future communications.
• Do Not Call Registry: Register your phone number with the National Do Not Call Registry at DoNotCall.gov to reduce unsolicited telemarketing calls.

6. Review and Update Opt-Out Preferences Regularly

• Regular Check-ins: Periodically review your opt-out preferences to ensure they remain effective. Some companies or data brokers may require annual verification or updates to your opt-out status.

7. Contact Financial Institutions

• Request Opt-Out: Contact your bank, credit card companies, and other financial institutions to request that they do not share your information with third parties, except as required by law.

Conclusion

Opting out of information sharing is a crucial step in protecting your privacy and reducing the risk of identity theft. By taking these proactive measures, you can control how your personal data is used and shared, and minimize unwanted solicitations and potential privacy breaches.