HELOC offers for non-home owner

[Dawn]

I know that my DD needs to order and check her credit reports ... but I have to ask.  Does it make any sense at all that Chase would be sending HELOC offers to a 20 year old non-home owner? 

She has a checking account with Chase and was recently employed by Chase.  But ... she definitely does not have a mortgage (even though we have one through Chase) and Chase's records should reflect that.  Surely, they don't just match her address up with their addresses on their mortgage accounts and assume that the customer is the owner of the home?

[Anonymous]

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Dawn wrote:

I know that my DD needs to order and check her credit reports ... but I have to ask.  Does it make any sense at all that Chase would be sending HELOC offers to a 20 year old non-home owner? 

She has a checking account with Chase and was recently employed by Chase.  But ... she definitely does not have a mortgage (even though we have one through Chase) and Chase's records should reflect that.  Surely, they don't just match her address up with their addresses on their mortgage accounts and assume that the customer is the owner of the home?

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It's probably a promotional thing that gets sent to X amount of random people. Check the postage, bet it says "Bulk Mail" or something like that.

If in doubt, have her ask, "Why am I being sent HELOC offers, I don't own a home" and they'll tell her.

[Anonymous]

I am not a home owner either and I get them from time to time from my bank, I agree that its probably just a promotional letter.

~~AttaGirl

[Dawn]

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sidewinder wrote:

It's probably a promotional thing that gets sent to X amount of random people. Check the postage, bet it says "Bulk Mail" or something like that.

If in doubt, have her ask, "Why am I being sent HELOC offers, I don't own a home" and they'll tell her.

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I'm certain it is just a promotional offer, it just seems strange that Chase would bother to spend the money on marketing materials being sent to those who are not possible candidates for their offers. 

I was concerned that there was something in her credit file that shouldn't be there, and that was the reason she was receiving such offers.  Now that I look at it more closely, there is no "opt-out pre-screen" statement like you see on the ones that come as a result of lists provided through the CRAs.

I will have her ask about it though, as well as let her know that she can "opt-out" of receiving all of their marketing materials.  It certainly cut down on the clutter in my mail box and on my voice mail messages.

[Dawn]

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AttaGirl wrote:

I am not a home owner either and I get them from time to time from my bank, I agree that its probably just a promotional letter.

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Thank you for sharing that tidbit.   Everytime we get one of those mailings, I begin to worry again that since she has received several notices in the past year or so that her personal information was on laptops that were stolen, that something fishy might be going on.  I shall relax a little now.

[Junejer]

That's good marketing if you ask me. Even though she doesn't own a home now, if she does buy at some point, she is likely to think of Chase for a HELOC, particularly if they market to her semi-regularly.

Before I was in a position to "invest", I would get promotional materials from a local financial planner. Anyway, once I got in the position to make some investments, guess whose name popped to mind?

Message Edited by ByrdMan on 03-07-2008 02:40 PM

[Anonymous]

She has a 'business relationship' with Chase by having a checking account with them.  Perfectly legit for them to market to their own customers.  Not even sure you can opt-out on that one.

[Anonymous]

LS  Whether the OP can opt out is determined by Chase's Privacy Policy with regards to marketing to their customers. OP needs to check privacy policy of the checking account or call Chase for answer.