![]() In other words, you are allowed to “opt out” of the pre-screening process. You have the right to order the credit reporting agencies to not include your name on the pre-screened lists that they sell to banks. Can You Get Your Name Taken Off These Pre-Screened Lists? įor this reason, you may see soft inquiries on your credit report from companies you do not recognize who may have extended a pre-screened offer to you. In fact, credit card issuers very commonly use these pre-screened lists as a way to acquire new consumers, as you may already know if you regularly receive such offers in the mail yourself.ĭo You Get Inquiries on Your Credit Reports From Pre-Screened Credit Offers?īecause your credit report is generated and accessed by a business during the pre-screening process, this results in you getting a soft inquiry on your credit report. Yes, it is completely legal for the credit reporting agencies to include your information on pre-screened lists of consumers for lenders to purchase. Is It Legal for the Credit Bureaus to Sell Your Information on Pre-Screened Lists? The credit bureaus would then compile a list of consumers who fit that set of criteria and sell this list to the lender so that the lender can offer credit cards to these consumers. The banks determine who they will send offers to by purchasing pre-screened lists of consumers from the credit reporting agencies.įor example, a credit card issuer could request a list of a million consumers who have a credit score between 650 and 725, do not have any bankruptcies on their records, and have not opened a new credit card in the past six months. Pre-screened credit card offers are preliminary offers of credit that credit card companies send to consumers who have a credit profile that matches with that of the company’s desired customer base. Tradelines can in some cases cause credit scores to go down. Tradeline Supply Company, LLC does not sell tradelines to increase credit scores and does not guarantee any score improvements. ![]() ![]() ![]() In this article, we summarize everything you need to know about the opt-out myth, and you can watch the video at the end of this post!ĭisclaimer: The views and opinions expressed in this article are strictly those of John Ulzheimer and do not necessarily reflect the official stance or position of Tradeline Supply Company, LLC. What is the opt-out myth and why does it not work?Ĭredit expert John Ulzheimer has some insight into this topic, which he provided in a Credit Countdown video. The “opt-out” myth is one of many myths that lead consumers astray when it comes to credit. ![]()
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