Opt-Out of Prescreened Offers of Credit
The Consumer Credit Reporting Companies Equifax, Experian, Innovis, and TransUnion are permitted, under the Fair Credit Reporting Act (FCRA), to include your name on lists used by creditors or insurers to make offers not initiated by you (also known as firm offers, pre-approval offers, or pre-screened offers). The FCRA also provides you with the option to opt-out of these offers, which will prevent the Consumer Credit Reporting Companies from providing your credit file information to creditors and insurers. Click here to view the FTC's Consumer Alert regarding how a mortgage application may trigger competing offers and pre-screened offers of credit.
Some examples of these offers include:
- You apply for a loan and shortly thereafter, receive multiple phone calls from other lenders soliciting your business,
- You receive pre-approved credit card offers,
- You receive offers that state you have been pre-qualified for a loan or line of credit.
