![]() How To Opt out of Prescreened Credit Card OffersĪnyone can opt out of receiving prescreened offers for up to five years or permanently. Data privacy violations of prescreened customer lists are a risk, but not likely to be common. Any list of personal information stored -and, especially, lists shared among agencies or companies -has the potential to be hacked or stolen. ![]() But identity thieves usually need more personal information which prescreened offers don’t include. Although prescreened offers are among the least common forms of identity theft, any mail that includes a person’s name and mailing address could potentially be stolen. Constantly receiving credit card offers not only takes up space in the mailbox, but it also leads to wasteful use of materials and resources used in printing, delivering and disposing of unwanted mail. Prescreened offers are essentially unsolicited mail. Because potential customers are selected based on a set of predetermined criteria, there’s a much greater chance that an applicant will be accepted with the offer’s terms. Customers are not required to accept (or even respond) to prescreened offers, meaning you can pick one, apply for it and ignore the rest. Receiving a few prescreened offers at a time allows eligible cardholders to comparison shop without wasting time and effort searching for the right card. No matter how many prescreened offers are received, credit scores aren’t affected by the fact that a credit card company has your information. ![]() ![]() Soft inquiries don’t show up in credit reports like hard inquiries do. Card issuers conduct only a soft inquiry into someone’s credit history to determine whether they’re eligible, since they’re not authorized by the user to conduct a hard check. Soft inquiries that don’t affect credit.Because card issuers are reaching out directly to eligible people, they may offer a more enticing set of terms. Prescreened offers sometimes include more appealing interest rates, annual fees, sign up bonuses or rewards not available to the general market. Here’s a look at the pros and cons of prescreened credit card offers. But these pamphlets, envelopes and mailers are not always welcome in some mailboxes. Prescreened offers can be a good way to find a better deal. Pros and Cons of Prescreened Credit Card Offers Any major changes in credit history that may occur between the time the offer is made and the submitted application may lead the customer to be declined. The company generally withholds the right to re-review a customer’s eligibility before approving him or her for the prescreened offer. Issuers, once authorized, will perform a hard credit check. Potential customers must apply for a prescreened offer as they would if they found an offer on the issuer’s website. The issuer will then send out pre-screened card offers to eligible people as a marketing strategy, hoping to acquire new customers. Then the business requests from one of the major credit bureaus a list of people whose credit history meets those requirements. Card issuers come up with a series of minimum requirements (like a minimum credit score) a potential customer must meet to qualify for a product. Prescreened offers often come unsolicited but card issuers must honor them if a customer accepts them. If a current cardholder meets the criteria based on their credit score or history, issuers will send a prescreened invitation that may offer perks or rewards not available to the general public. credit bureaus (like Equifax, Transunion or Experian) are legally allowed to share a list of eligible individuals’ information with credit card issuers upon request. Prescreened credit card offers are advertisements sent directly to potential customers who qualify for competitive interest rates or benefits.
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