Trigger Leads

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Trigger Lead Offers

What they are, and how to avoid them.

 

Have you ever noticed an increase in unwanted phone calls or offers in the mail right after you applied for a loan?

No matter where you bank, third-party companies solicit customers by using their personal information as a sales tool. When a financial institution pulls your credit report, the credit bureau sells this information as a “Trigger Lead.” This sale of your information is legal, but you CAN stop it.

Keep reading below for helpful information about why you may receive unsolicited marketing offers and steps you can take to prevent it from happening.

What are Trigger Leads?

A trigger lead happens when you apply for a loan, and your lender checks your credit report. This check tells other companies that you're looking for a loan. These companies buy this information and then start calling or sending you offers for loans, credit cards, or insurance.

How do companies get my information?

Companies buy your information from credit bureaus like Equifax, Experian, and TransUnion when your credit report is checked.

Why am I getting so many calls and letters after applying for a loan?

Companies use trigger leads to contact you with offers for mortgage loans, credit cards, or insurance, hoping you'll choose their services. These offers are not from Katahdin Trust.

Can I stop these unwanted calls and letters?

Yes, you have the ability to remove your name from the trigger leads list, but the bank cannot do this on your behalf. To stop receiving these unwanted offers, please follow these steps:

  • To eliminate unwanted mail solicitations: Go to www.optoutprescreen.com or call 888-567-8688. You will need to provide your social security number and date of birth to complete the process.
  • To eliminate unwanted phone solicitations: Go to www.donotcall.gov or call 888-382-1222. Make sure to include all phone numbers that you currently use, including home and cell numbers.

By taking these steps, you can significantly reduce or eliminate these unwanted contacts.

Are there any exemptions?

Yes. You may continue to receive offers from sources that do not use Consumer Credit Reporting Companies to compile their list. Companies that have a current relationship with you are exempt, as are certain non-profit organizations seeking funding, such as religious, political, or community-based non-profits. To eliminate these solicitations, it is best to contact each organization directly.

Is my personal information safe?

Katahdin Trust does not sell your contact information to other lenders, but we cannot stop the credit bureaus from doing so. While the information shared is limited and regulated, it’s still a good idea to monitor your credit reports and protect your data.

Stay alert to potential scams.

Remember: Katahdin Trust will never ask for your account number, social security number, or PIN over the phone, via email, or text message.

Last Updated: June 2024
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