Many of us have received unsolicited mail sent from credit and/or insurance companies (whom we have no prior relationship with) that have ‘pre-approved’ or ‘pre-qualified’ in large, bold, bright writing at one time or another. Learn what these offers mean, how you are targeted and what to do if you don’t want to receive these types of offers.
What Does Pre-Approved or Pre-Qualified Really Mean?
Based on information that is available in your credit report, you match or fit-in with predetermined criteria set by a company to be ‘pre-approved’ or ‘pre-qualified’ for any number of offers from that company. These offers come in the form of credit cards, lines of credit, or chances to lower insurance premiums.
How is This Done and What Does it Mean for Me?
Companies offering these kinds of products do so by compiling lists with information that can be obtained from any consumer reporting company. Since you yourself are not inquiring about your credit, there will not be an inquiry shown on your credit report. This means your credit score will not be affected by this kind of activity.
What If I Don’t Want to Receive These Offers?
If these offers are something you are uninterested in, you are able to opt-out of receiving ‘pre-approved’ or ‘pre-qualified’ offers for five years or indefinitely. The process is fairly simple, but does require some paperwork through the FTCs website.
Similar to pre-screened credit and insurance offer mailings are Unaffiliated Mortgage Service Solicitations. These kinds of mailings are not affiliated with Hills Bank, but the sender may make it difficult for the receiver to realize this.
Remember Hills Bank will never ask for personal account information by email, text or phone. It’s important not to respond to unsolicited requests for personal information which appears to be from Hills Bank. If you wonder if communications are legitimate, please contact us by emailing HillsBank@HillsBank.com, live chatting us via HillsBank.com or calling us at 1-800-445-5725 (HILLSBK). Our Customer Contact Center will be able to help determine the legitimacy of any messages you receive coming from Hills Bank or that appear to come from Hills Bank.