Prescreen Lending Offers and How to Opt Out
03/26/2024
PreScreen Lending Offers and How to Opt-out
Did you recently apply for a loan at one financial institution (FI) and get bombarded with calls from other FIs?
FIs can contract with the Consumer Credit Reporting Companies to be alerted when your credit is pulled/run for a new loan application. FIs can use this information to contact you to make an offer of credit for their loan products rather than the FI you applied with.
Although you may find this extremely annoying, there are some benefits to receiving these offers. You may be provided with more product choices to help you comparison shop. You may even learn about offers that may not be available to the general public!
You can choose to opt-out of these prescreened offers and others, including the ones you receive in the mail – like pre-approved credit card offers. And, if you change your mind later, you can always opt back in.
How to Opt-out
There are two ways that you can opt-out:
- Opt-out of receiving offers for five years.
- Opt-out of receiving offers permanently – available via mail only.
- To opt-out for five years: Call toll-free 1-888-5-OPT-OUT (1-888-567-8688) or visit www.optoutprescreen.com. The phone number and website are operated by the major consumer credit reporting companies.
- To opt-out permanently: You may begin the permanent Opt-Out process online at www.optoutprescreen.com. To complete your request, you must return the signed Permanent Opt-Out Election form, which will be provided when you initiate your online request.
When you call or visit the website above, you’ll be asked to provide certain personal information, including your name, address, Social Security number, and date of birth. The information you provide is confidential and will only be used to process your request to opt-out.
If you don’t have access to the Internet, you may send a written request to permanently opt-out, to each of the major Consumer Credit Reporting Companies listed below. Make sure your written request includes your name, home address, telephone number, Social Security number, and date of birth.
Equifax P.O. Box 740241, Atlanta, GA, 30374
TransUnion TransUnion LLC, P.O. Box 2000, Chester, PA 19016-2000
Experian 2 Burlington Woods Dr Ste 200, Burlington, MA 01803
Innovis Innovis Consumer Assistance, PO Box 530087, Atlanta, GA 30353-0087
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