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Marketing to Consumers with Personal Credit Information

Have you explored the benefits of direct-to-consumer marketing? There are a few things that you should know...

Image result for direct mail pictures


Consumers use websites such as Realtor, Zillow, Cars, CarsGuru and more to help find perfect cars and homes. These companies are selling consumers on their ability to demonstrate features, apply filters, and find the most "bang for their buck!"  


Marketers can apply the same principle while building direct-to-consumer marketing lists. The data is first standardized, certified, deduplicated, and undergoes scrutinizing hygiene processes. After the data is cleaned up,  the targeting and selection processes begin. Just like using a realtor or car buying expert; Utilizing a data expert can increase your ability to build an effective list.


One particular data set that requires assistance in obtaining, using, and reporting usage is personal credit data from the three major credit bureaus (Equifax, Transunion, and Experian).  Using this data for marketing purposes involves following certain compliance regulations which are enforced by the FTC (Federal Trade Commission). Altair ensures that all clients have everything in place ahead of purchasing pre-screened credit data in order to help everyone avoid penalties. 


The FTC enforces the Fair Credit Reporting Act (FCRA) which is the federal legislation that works to protect consumers credit information. There are specific reasons to use consumer's credit data, specific language used to allow opt outs from further offers being made, and also a specific "firm offer" of credit to be made.  Although there may be some limited opt-outs for a firm offer to be denied upon application, the intent is that if a firm offer is made that it will be kept in the manner that it was offered.  Marketing and underwriting departments should be on the same page throughout the entire marketing process. It is important to use experienced credit marketers when drafting the firm offer. This will help you to avoid risky lending and sloppy marketing. You're making a firm offer and that means you have a legal obligation to lend to those who receive it.


Altair Customer Intelligence is an authorized agent for all three major credit bureaus, as well as several alternative bureaus (FactorTrust & Clarity).  Additionally, Altair is an authorized reseller for most of those bureaus.  Combining these relationships and our deep understanding of how the data works is what helps our clients make the most of firm offers. Our data science team knows what elements are predictive, and how to use the findings in order to help financial marketing teams.


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Tags: Marketing Lists, Consumer Data Leads, Sales Leads, Insurance Leads, Mortgage Leads, Direct Mail Lists, New Mover Data, Donor Lists


Altair Staff

Written by Altair Staff

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