Would you like to stop receiving unsolicited offers for credit cards? You can.
Loan officers and processors must run credit reports to see what kind of a loan you qualify for to buy your dream home. All one needs is a name, address and social security number.
But as soon as the credit report is run, it triggers the credit bureaus to "provide" (sell?) that information to subscribing lenders who will then telemarketer the person.
I have even been told by a loan officer recently that these inquiries do lower your credit score slightly for each time one of these companies looks at your credit to see if they want to send you an offer. In this tight credit market even a few points can make or break a loan. I would love to hear from some loan officers or someone else in the know about this.
One way to prevent this sale of your info is to go to www.optoutprescreen.com they "are the official Consumer Credit Reporting Industry website to accept and process requests from consumers to opt-in or opt-out of firm offers of credit or insurance."
I just went their today and opted out and though they ask for you social security number it is not required to give it to them.
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