When any lender pulls your credit report, the credit bureau sells this information as a “Trigger Lead”. The sale of your information is legal, but you can opt out. That's why we have put together helpful information about why you may receive unsolicited marketing offers and steps you can take to prevent it from happening.
If you've recently applied for a loan and suddenly started receiving a flood of phone calls, emails, or text messages from unfamiliar lenders, you're not alone. We're hearing from a growing number of customers who are feeling overwhelmed by these unexpected and frustrating contacts. The root of the issues all stems from Credit Trigger Leads.
When you apply for a loan, whether it's a mortgage, an auto loan, or a personal loan, the lender pulls your credit report. What you may not realize is that this simple action can "trigger" the credit bureaus (Equifax, TransUnion, Experian, and Innovis) to sell your information to other lenders. This is what's known as a trigger lead.
Yes, it's completely legal, and no, you didn't explicitly agree to it. Credit bureaus are legally allowed to release your information to paying members of their network. That includes your name, credit data, phone number, and more, all sold to marketers who want to get their offers in front of you.
It's frustrating, we know. But thankfully, there are steps you can take to protect your personal information and stop the marketing madness.
Credit bureaus operate on a business model built on data. They make money in two main ways:
Charging consumers for credit reports and monitoring services.
Selling Consumer Data - especially credit inquiries, to marketers and lenders.
So when you apply for a loan, you're marked as "actively seeking credit." That status is a gold mine for other lenders who want your business, and they'll pay for access to that information.
The sale of your data can result in:
Even if you never respond, the sheer volume of these messages can feel overwhelming.
Yes. Under current laws, they are allowed to sell your information to third-party marketers if you haven't opted out.
Because it's lucrative. Companies pay to get your contact details and credit inquiry information so they can market their financial products directly to you.
Not entirely. It will reduce most credit and insurance offers. However, it won't block organizations you already do business with, charities, political groups, or associations from contacting you. You'll need to reach out to them individually.
No. The Do Not Call list only applies to telemarketing. You still need to opt out at OptOutPrescreen.com to stop credit-related data sharing.
No. Each individual must complete the opt-out process separately.
Typically, within five days, but you may continue receiving offers for a short period, as some companies may have already purchased your information.
With OptOutPrescreen.com, if you choose the temporary opt-out, it remains in effect for 5 years. If you choose the permanent opt-out option, it remains in effect indefinitely. However, you must complete and return a signed confirmation form by mail after submitting your request online or by phone. For the National Do Not Call list, your registration is permanent. Your phone number will remain on the list until you remove it or disconnect the number. Your registration to opt out of direct mail marketing through DMAchoice.org will be valid for 10 years.
At Heartland Bank, we're committed to helping our customers feel informed, empowered, and protected. We understand how frustrating it can be to receive these unsolicited offers, and we're here to help you stop them.
To learn more about safeguarding your personal information, please speak with one of our associates. We'll be happy to guide you through the steps and answer any questions you may have.
Your information belongs to you. Let’s keep it that way.
Experience the Difference with Heartland Bank.