Have you observed a surge in phone calls from lenders or insurance companies after recently applying for a mortgage loan or car loan? It can feel like an intrusion of privacy, particularly when you’re in the midst of the loan process. Unfortunately, certain entities, such as lenders, credit card companies, and insurance providers, acquire your data from third parties, turning you into what is referred to as a “trigger lead.” If you wish to avoid being bombarded with unwanted offers, follow the steps below to safeguard yourself going forward. Rest assured, at PNCU, we prioritize the protection of your information and NEVER sell your information to third parties.

What is a Trigger Lead?

Upon submitting a loan application, your lender retrieves your credit report, which subsequently acts as a “trigger” for lenders and other companies seeking new customers. These companies acquire these triggers from the major credit bureaus, such as Equifax, Experian, and TransUnion. Their objective is to promote their own offerings, entice you to choose their services over competitors and secure your business for themselves.

Can you opt out of trigger leads?

While triggers leads may be perceived as unethical by some, it is widely acknowledged that they can be annoying. Despite their intrusive nature, it is important to know they are legal and according to the Federal Trade Commission (FTC) and Consumer Finance Protection Bureau (CFPB), they are used to encourage competition among lenders and other companies. Although it is not possible to completely halt trigger leads, you can adopt a proactive approach and opt out before you start receiving unwelcomed communications.

  • To prevent the credit bureaus from selling your information as a trigger lead, visit OptOutPreScreen.com and register. The registration process typically takes around five days to complete and will only affect future lead requests, meaning you may still receive some solicitations.
  • For the elimination of unwanted phone calls, you can register your phone number(s) on the Do Not Call Registry. We recommend initiating this process at least one month before applying for a loan since it can take a few weeks to become effective.

It is important to note that these solicitors do not have access to Personally Identifiable Information (PII). The information they receive from the credit bureaus only indicates that there has been a recent credit inquiry, enabling them to compete for your business.

At PNCU, we value the principles of customer privacy, and we DO NOT SELL customer information to third parties. When you apply for a loan, we request private financial and personal information from you. We value the trust you have placed in us and maintain the utmost confidentiality and accuracy of that information. Our dedicated team at PNCU is readily available to address any questions or concerns regarding this matter. We are committed to providing you with the guidance and support you need.

If you would like more information, please contact us directly at (413) 592-9495 or contactcenter@pncu.com.