11-15-2013 04:54 PM
11-16-2013 12:08 AM
If a creditor obtains your name and address from a CRA for purpose of making an offer for credit, they must have preset qualifications that, if you are found to meet, they must extend the credit. it is what is referred to under FCRA 604(c) as a "firm offer for crediit."
Assuming your name was obtained from a CRA based on a request for listing of consumers that meet their qualifications, you then decide if you wish to apply.
You will usually not know what the firm offer is based on.
By applying, you have initiated a request for credit, which gives the creditor permissible purpose to pull your entire CR. If you meet the preset criteria, they must provide the offered credit. If upon review of your full CR, you are found not to neet the specified criteria, they have no obligation to extend the offered credit.