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Local Real Estate, Products & Services, Security

Trigger Leads and How to Stop Them

Have you ever applied for a new credit card or loan, only to be bombarded with calls, emails, text messages and physical mail peddling other credit products in the following days? If so, it’s likely the result of “trigger leads.”

What are Trigger Leads?

When you apply for credit, your lender will obtain your credit report from the three major credit bureaus: Experian, TransUnion and Equifax. This credit check is a standard part of the loan application process, but it also leaves a hard inquiry on your credit report which automatically triggers to lenders that you’re looking for new credit. Those lenders can purchase inquiry data from the credit bureaus.

How to Opt Out of Trigger Leads

You don’t have to put up with the barrage of unwanted credit offers. The Consumer Credit Reporting Industry offers a website, www.optoutprescreen.com, where you can opt out of receiving prescreened credit and insurance offers for five years or permanently.

Here’s what you can do:
  • Electronic Opt-Out for 5 Years: This is the simpler option. By submitting your information on the OptOutPrescreen.com website, your name will be removed from credit and insurance offer lists for five years.
  • Permanent Opt-Out by Mail: If you prefer a more permanent solution, you can opt out of prescreened offers permanently by mailing the opt-out form available on the OptOutPrescreen.com website.
Register for Do Not Call

The National Do Not Call Registry was created to stop unwanted sales calls. It’s free to register your home or cell phone number. Visit donotcall.gov. It does take 24 hours to be added to the list and can take up to 31 days to be removed from calling lists.

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Keep in Mind

  • You can always opt back in to receive these offers if you change your mind later.
  • Opting out won’t affect your credit score.
  • Opting out applies only to prescreened offers. You may still receive targeted credit card offers from lenders you have a relationship with.

We’re here to help!

At OlyFed, your trust and the protection of your valuable personal and financial information are our highest priority. You can rest assured we have the latest systems and safeguards in place to protect your assets and we do not sell your contact information to other lenders.

Whether or not you are actively applying for credit or loans, stay alert to potential fraud or scams. We will never ask for your personal identifying information such as account number, social security number or PIN over the phone or through email or text.

If you have any questions or would like more information, please do not hesitate to contact us.