Alex Featured on Mortgage Vault Podcast

Read Time: 2 minutes

Think of the last time you made a major purchase. Maybe it was a new house or a new car. In the weeks following that purchase, did you receive some unwanted calls and emails from telemarketers? There is a reason why this happens, and the good news is you can put a stop to these solicitations with a few clicks.

When you’re making a major purchase – like a new house – that requires your credit to be pulled, the credit bureaus (Equifax, Experian, Innovis, TransUnion) may add your name and information to marketing lists to insurance companies and even other lenders. Under the Fair Credit Reporting Act (FCRA), these companies are permitted to include your name on lists used by creditors or insurers to make you offers for future purchases, hence the telemarketing calls. Your personal information may inadvertently be given to scammers or those who may try to use your information to commit identity theft.

Luckily, the Fair Credit Reporting Act provides you the right to simply “Opt-Out”, which prevents credit report companies from providing your credit file information to third parties or even scammers.

Here’s how:

    • Head to https://www.optoutprescreen.com/ and click on the “Click Here to Opt-In or Opt-Out” button.
    • Submit the requested information on the website.
    • Note that the online option will keep you off these lists for five years.
    • You can also complete the process by phone by dialing 888-5-OPT-OUT (888-567-8688).
    • Your request becomes effective with the credit bureaus within five business days.

If you choose to Opt-Out, you will no longer be included in lists provided by the consumer credit reporting companies. We should note, you can Opt-In in the future if you do want to receive solicitations. 

We should also remind you if you ever receive suspicious emails or text messages from banks, lenders, or government agencies (i.e., IRS), to NEVER click on any links or provide personal information including your name, social security number, and bank information. Click HERE to learn more about how you can protect your private information.

Equal Housing Opportunity. Axia Home Loans is a registered tradename of Axia Financial, LLC. NMLS 27830.

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