Trigger Leads

Have you been targeted by other lenders when you applied for a loan? Rest assured; The Dime Bank never sells your information. What is happening is a process called Trigger Leads. The major credit repositories may sell your information to lenders who are looking for customers with certain specifications like loan types, zip codes, or FICO scores, and the process is called Trigger Leads.

You can choose to opt out. If you prefer not to receive such offers, visit www.optoutprescreen.com or call (888) 5-OPT-OUT (or 888-567-8688).

Want more information prior to deciding? Read on.

After you apply for a loan, your credit report is pulled, indicating to the major credit bureaus that you are potentially making a large purchase. Once your ‘trigger lead’ information is sold, you may begin receiving telemarketing calls, letters, or emails from lenders who now have access to your information.

Trigger leads are legal under the Fair Credit Reporting Act (FCRA) and are used by many legitimate companies to increase sales. Examples are mortgage companies, insurance companies, and car dealerships. However, disreputable companies also purchase these leads and misrepresent themselves to trick borrowers with illegitimate offers and could expose you to potential identity theft. Knowing who you’re dealing with and carefully researching lenders can help you protect yourself from disreputable offers.

If you would like to prevent pushy telemarketers, streamline the process of borrowing money, or limit the sharing of your personal information, you should opt out.

How might Trigger Leads benefit you? If you get multiple offers, you will be better able to compare the price of services. It is possible that would prompt lenders to offer rates and terms to outbid rival offers.

You can control access to your file for five years online, or permanently by mail, within 72 hours. Opting out will stop unwanted credit offers by mail; eliminate unwanted review of your credit file; and will provide you with an added level of assurance that your credit file will only be viewed by companies chosen by you or your lender.

OptOutPrescreen.com is the only internet website authorized by Equifax, Experian, Innovis, and TransUnion for consumers to Opt-Out of firm offers of credit or insurance. You may request Opt-Out from firm offer lists for five years or permanently. If you have previously completed a request to Opt-Out from receiving firm offers and would like to Opt-In, you may also complete your request at OptOutPrescreen.com. Consumers should not provide their personal information to any other company or person in connection with requesting Opt-Out services under the Fair Credit Reporting Act.

To register, visit www.optoutprescreen.com or call (888) 5-OPT-OUT (or 888-567-8688).
For additional tips on protecting your data, visit The Dime Bank’s Security Tips page.