Credit Card Debt Management

You are Mr. (or Ms.) Popularity. All the credit card companies want to be your friend. You get at least one credit card mailing every day, but in this age of mailbox tampering and identity theft, is this really a good thing? How does one approach the problem of credit card offer overload?

1. Don’t use it as a basis for assumptions about your credit score.

Some people with bad credit believe that more credit card mailings equal a credit score that is on the mend. This is not true. If anything, it indicates that the credit card companies smell an easy buck, someone who may not pay on time or will take out cash advances or any number of other things that would allow the lender to jack up the interest rate.

2. Opt out.

Even if you do have good credit and your offers are targeted more at things like low-interest balance transfers, you shouldn’t be flattered. This mass of mailings is still posing a risk to the safety of your identity and your financial future. You can opt out of receiving these mail offers by calling 1-888-OPT-OUT or by visiting OptOutPrescreen.com. For more information, visit the Direct Marketing Association’s tips for “How To Get Off A Mailing List.” Of course, the Federal Trade Commission has similar detailed information on its site.

When it comes to credit cards — and all marketing materials for that matter — it pays to know your rights. Make it as difficult as possible for strangers to obtain your information or gain an opportunity to apply for credit under your name. If you do receive credit card offers in the mail, remember to use a shredder as a precaution. You might just be stopping yourself or someone else from becoming the victim of identity theft, the fastest growing crime in America.