a creditor or insurer establishes criteria, like a minimum credit score, and asks a consumer reporting company for a list of people in the company’s database who meet the criteria.Usually, prescreened solicitations come via mail, but you also may get them in a phone call or in an email.
Prescreened offers - sometimes called “preapproved” offers - are based on information in your credit report that indicates you meet criteria set by the offeror. Many companies that solicit new credit card accounts and insurance policies use prescreening to identify potential customers for the products they offer. While you can work with just one credit reporting agency (or credit bureau), companies like Deluxe offer a tri-bureau solution that maximizes your reach.īy using this kind of data you can increase response rates and conversion by targeting the right consumers and eliminating unqualified or high-risk prospects.SnapFi has done the research to arm you with what you need to do to avoid this altogether. Mintel Comperemedia reports that over 70% of all consumer lending direct mail offers were prescreened using credit bureau data.Ī prescreen campaign allows you to pick and choose the criteria of the consumers you want to target so you can make a customized offer to them. The process is highly regulated, so we encourage organizations to work with experienced marketing agencies, like Deluxe, who’ve been doing prescreen marketing for a long time. The process of prescreening consumers happens without the consumers' knowledge and without any derogatory effects on their credit file. Prescreening is the process used by a lender to determine if they want to offer credit to a consumer.
Whatever your needs, we’re here with the experts to help deliver exceptional omnichannel marketing campaigns. Unmatched experienceĪs the first provider to offer tri-bureau data, we’ve been perfecting prescreen marketing since 1997. We’re experts at working with compliance teams to get you set up to use our data or to get mail pieces approved. Compliance expertsĮverything we do is built to comply with FCRA regulations. Our proprietary, automated SaaS platform brings together all our data assets, standardized and cleaned to ensure you get the best possible data records. While our off-the-shelf models are proven and in use by many clients, our data science team is available to build custom models to suit your individual needs. With hundreds of attributes spanning the verticals of the mortgage, auto and personal loan industries, our prescreen credit data covers more than 250 million U.S. We’ll save you time by handling all the orchestration, the data standardization, and of course the multiple contracts, saving you money. Using data from all 3 major credit bureaus creates a lead list guaranteed to provide a significant lift from working with just one or two bureaus. Here’s how we help you do it: Tri-bureau credit data It’s a great way to ensure that marketing targets are creditworthy and conform to your specific criteria requirements which makes your messaging more targeted and valuable to consumers. Prescreening allows you to create higher performing campaigns that maximize your response and conversion rates.
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