Stop Trigger Leads

Have you ever wondered why you receive so many telemarketing calls after applying for credit?

Read further to find out why and how to put a stop to them. 

Trigger Lead

What is a Trigger Lead?

When you apply for credit, such as a loan or credit card, the creditor pulls your credit report from the major credit bureaus (Experian, TransUnion, Equifax). This inquiry into your credit history creates a record. These records contain information such as your name, contact details and the type of credit you applied for (auto financing, mortgage, revolving credit). The credit bureaus can then sell this information to third-party businesses that are interested in this valuable data for marketing purposes.

Did you know that you can Opt-Out?

Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to sell this information to businesses. However, the FCRA also provides you with the right to "Opt-Out", which prevents Consumer Credit Reporting Companies from providing your credit file information to businesses. In fact, they have a website dedicated to allowing consumers to easily request an Opt-Out from all three credit bureaus.

How to Opt-Out of Trigger Leads!

To opt-out of trigger leads, follow these steps:

  1. Visit the Opt-Out website provided by the credit bureaus.
  2. Fill out the necessary information, including your name, contact details, and social security number.
  3. Submit your opt-out request.

By opting out, you can reduce the number of telemarketing calls you receive and protect your personal information.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.

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