What are trigger leads?

Understanding trigger leads and how to opt out of prescreened offers

When your credit report is pulled, consumer credit reporting companies can add your name to a list that creditors use to market their products to you. It’s called a trigger lead because it’s “triggered” by a hard inquiry, which occurs after you apply for a loan. This often results in an influx of unsolicited offers from lenders trying to win your business, which may be inconvenient and frustrating.

Raymond James Bank does not purchase or use trigger leads. However, lists based on a hard credit pull by Raymond James Bank can be purchased by other lenders, such as mortgage lenders, auto lenders and credit card providers.

The following FAQs may help you understand how trigger leads work and how you can opt out of receiving them.

What is a trigger lead?

When you apply for a mortgage or other type of loan, the lender pulls your credit report. This “triggers” to other lenders  and insurance companies that you’re looking for credit or financing. These lenders can purchase your inquiry data and solicit their services to you.

Are trigger leads legal?

Yes. Under the Fair Credit Reporting Act, trigger leads are legal as long as the company buying them meets certain legal requirements. In fact, the Federal Trade Commission (FTC) and Consumer Finance Protection Bureau (CFPB) encourage these types of practices because it creates competition among lenders, which can help consumers get the best possible deal on financing.

How do I opt out of trigger leads?

If you wish to do so, you can opt out of trigger leads to help reduce prescreened offers. Here’s how: 

• Register for the National Do Not Call Registry. Visit gov or call 1-888-382-1222 (TTY: 1-866-290-4236) from the phone number you want to register.
• Opt out of prescreened credit and insurance offers in the mail. Visit com or call 1-888-5-OPT-OUT (1-888-567-8688) to start the process.

For the best results, you should opt out online at least five days in advance of applying for credit. Trigger lead calls may begin as soon as one day after a hard credit pull and opting out after the fact could take up to 31 days for the calls to stop.

Is there any reason not to opt out of trigger leads?

While unsolicited offers can feel invasive or annoying, you may actually benefit from trigger leads. Receiving a variety of offers enables you to see what’s available so you can compare costs and identify the products that suit your needs. And since these offers are prescreened, the terms may be more favorable than others available to the general public.

What if I opt out and change my mind later?

If you opt out of prescreened offers but later decide you do want to receive them, you can opt back in using the same website (https://www.optoutprescreen.com/) or toll-free number (1-888-567-8688).

It’s important to note that opting out of trigger leads will not stop all unsolicited offers – only prescreened offers based off lists from the major credit bureaus. You may still receive credit and insurance offers from other sources, such as local merchants, alumni associations and companies you’ve interacted with in the past. To stop receiving offers from these groups, contact each source directly.