Consumer credit issuers have to tell you who they share your information with and how you can stop it. Every year. Hate junk mail? Hate calls offering to sell you more credit or insurance or other junk you don’t want? Pay attention to those privacy notices!
Every year, you will get a notice of some kind from your credit cards, insurance companies, banks, almost everyone who has some of your private information. It tells you who has access to your personal data like your name, address, and phone number. And he tells you if they allow their other subsidiaries or affiliates use that information, or even third-parties, to market their products and services to you. For example, here is a typical credit card privacy statement from Macy’s, as well as Citibank’s statement.
The most important thing they bury in the notices? How to opt-out. You can stop them from bugging you with so many offers, from sharing the information with many third-parties (except as permitted by law or under a court order) and even some of their own affiliates. And given how many times personal information has been lost by some company, it’s always a good idea to minimize the number of them that have your identity information anyway.
But you have to act on your own (except the lucky residents of Vermont who are already opted-out). The assumption is that you want to hear from all these wonderful people about their products instead of enjoying dinner with your family. So you have to call the phone number, write a letter or send an e-mail, depending on their opt-out procedures.
You have to do this for each account you have with each business.
It’s not hard but you have to sit down and do it for yourself. Once it’s done, it’s done. Although they have to send you the notice each year, the opt-out is supposed to apply until you say otherwise.
Try it. Trust me, it makes life so much better.
