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Prequal/offers with credit lock

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New Contributor

Prequal/offers with credit lock

I was discussing finances with a friend tonight and we got on the subject of credit locks.  Just curious if a credit lock will prevent using an issuer's prequal web form or unsolicited offers from credit grantors.  I say it would, she doesn't think so.  Who is right?  Smiley Happy

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Super Contributor

Re: Prequal/offers with credit lock

You are correct. 

 

If you want to see this in action, go to Discover’s prequal and fill out the form with your reports frozen. It will tell you that a letter is being mailed and you can try again in ten days. When you get the letter, it will tell you they couldn’t access your credit report. 

 

Capital One will tell you it couldn’t find an offer for you. 

 

Synchrony can not do CLI requests without TU unfrozen even when they’re SP. 

 

There are a number of things I didn’t think would be affected by a credit freeze that I have since found out are. A lock and a freeze are interchangeable in effects except a lock isn’t mandated or regulated while a security freeze is. 

 

You can, however, still get opt-in offers that are prescreened with your credit reports frozen. 

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New Contributor

Re: Prequal/offers with credit lock

Ok, thanks!  Guess we were both half-right.  Me in the fact that prequals won't work.  Her in the fact that you can still get unsolicited offers if you're not opt-out.

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