A trigger Lead is a marketing tool created by the 3 major credit bureaus which, under the FCRA allows the bureaus to include borrower names on lists used by creditors and insurers to make firm offers.
After a borrower, that is you, applies for a loan, information about the application is sold by TransUnion, Experian, and Equifax to other lenders so they are made aware that the borrower is actively looking for a loan and can target them with contending offers.
While this is frustrating for both borrowers and lenders, there are ways to help combat this madness, one of which is to “opt-out”.
In easy language, your data has been sold and big bucks lender firms are fighting for your business by trying to steal you away from your lender.
To ensure that the bureaus have had sufficient time to remove you, the borrower, from their list, it is recommended that you complete the opt-out process 5 days prior to having credit pulled. Follow the link below.