Another E-mail Hoax

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By By Jacci Lewis

Summary

This one warns of the impending release of your credit information, but don't be fooled.

Story Published: Jul 5, 2004 at 5:16 AM PDT

Story Updated: Aug 31, 2006 at 1:31 AM PDT

Another E-mail Hoax
SEATTLE - It's an e-mail that's guaranteed to get your attention.

It warns that starting July 1st, "the four major credit bureaus will be allowed to release your credit information, mailing address, and phone numbers to anyone who requests it." You can stop this from happening, the e-mail says, by calling a toll free opt-out number.

This e-mail, often forwarded from well-meaning friends, is a hoax! It's been going around the web since 2001. It started just before a new privacy law took effect (July 1, 2001). That law requires banks and other financial institutions to give you those notices explaining their data sharing policies.

Here are the facts. Federal law limits access to your credit file. Simply put, a person or business must have a legitimate reason for requesting it.

The phone number in the e-mail, 888-5-OPT-OUT, is a real number used by the credit bureaus. You can call it to get your name off of those pre-approved credit card lists. But you don't need to call this number to protect your personal information.

By the way, calling 888-5-OPT-OUT does reduce credit card solicitations, which reduces your chances of identity theft. That's why I made the call a number of years ago. Be advised: because your opt-out request is to the credit bureaus, and the way they identify you is via your Social Security number, you will have to give them your Social Security Number. But in this case, that's OK, because you've placed the call and you know where you're calling.

For More Information:

www.ftc.gov

moneycentral.msn.com

www.snopes.com