Flooded with Calls After a Credit Inquiry?
Learn What's Happening and How to Protect Yourself

If you’ve recently applied for a mortgage or any other type of credit, you might have noticed an influx of unsolicited calls and offers. This can be frustrating and intrusive, but understanding why it happens and how to protect yourself can help you manage the situation more effectively.

Why Am I Getting These Calls?

When you apply for credit, the credit bureaus (Experian, Equifax, and TransUnion) generate a credit report. During this process, your information may be added to prescreen lists that are sold to various companies. These companies then use the lists to offer their services, resulting in those annoying calls and mail offers.

What Are Trigger Leads?

To better understand why you’re receiving these unsolicited offers, it’s important to know about Trigger Leads. Trigger Leads occur when your credit report is accessed during a mortgage application. This action signals to credit bureaus that you are in the market for a loan. Credit bureaus then compile this information into lists and sell them to other lenders and financial institutions. While this practice is legal and intended to promote competitive lending offers, it often results in a flood of unsolicited communications.

How to Protect Yourself

Fortunately, there are steps you can take to reduce or eliminate these unsolicited offers:

1. Opt-Out of Prescreen Lists You can opt-out of prescreen lists by visiting www.optoutprescreen.com or calling 1-888-567-8688. This service allows you to opt-out for five years by submitting an electronic request. If you prefer a permanent solution, you can complete the Permanent Opt-Out Election form available on the website and submit it by mail.
2. Understand the Timeline It’s important to note that opting out is not instantaneous. It can take approximately five days for the opt-out request to take effect. During this period, you may still receive some offers. However, once the opt-out is processed, you should see a significant reduction in unsolicited calls and mail.
3. Opt Back In If Needed If you ever decide that you want to receive firm offers of credit or insurance again, you can opt back in at any time through the same website.

Additional Tips

• Monitor Your Credit Report: Regularly check your credit report to ensure there are no unauthorized inquiries or errors. This can help you stay on top of your credit health and address any issues promptly.
• Use Call Blocking Features: Many smartphones and phone service providers offer call blocking features. Utilize these tools to block unwanted calls and reduce interruptions.
• Be Cautious with Your Information: Be mindful of where and how you share your personal information. Only provide your details to trusted and reputable companies.

Conclusion

While receiving unsolicited calls and offers after a credit report can be annoying, taking proactive steps to opt-out of prescreen lists can help protect your privacy and reduce these interruptions. At American National Bank, we’re here to support you through every step of the homebuying process, ensuring you have the information and resources you need to make informed decisions.

If you have any questions or need further assistance, don’t hesitate to reach out. We’re here to help you navigate the complexities of the mortgage process and achieve your homeownership goals.