A firm offer of credit or insurance, under the Fair Credit Reporting Act (15 U.S.C. § 1681a(l)), is any offer of credit or insurance to a consumer that will be honored if the consumer is determined, based on information in a consumer report on the consumer, to meet the specific criteria used to select the consumer for the offer, except that the offer may be further conditioned on one or more of the following: criteria bearing on credit worthiness or insurability, based on the consumer's application, set before the consumer was selected and for deciding whether to extend credit or insurance under the offer; verification; and collateral that was set before selection and disclosed in the offer. A firm offer is one of the conditions under which a consumer reporting agency may furnish a consumer report for a credit or insurance transaction the consumer did not initiate (15 U.S.C. § 1681b(c)(1)(B)(i)). Under Regulation V, for persons within its scope, the short opt-out notice must state that the consumer has the right to opt out of receiving "prescreened solicitations" (12 CFR § 1022.54(a), (c)(1)(i)).
Honored if: the consumer is determined, based on information in a consumer report on the consumer, to meet the specific criteria used to select the consumer for the offer, except that the offer may be further conditioned on application criteria set before selection, verification, and collateral set in advance and disclosed in the offer (§ 1681a(l)).
May still be conditioned on: application criteria bearing on credit worthiness or insurability, established before selection and for deciding whether to extend credit or insurance under the offer; verification that the consumer continues to meet the selection criteria, or of the information in the application; and collateral that was established before selection and disclosed in the offer (§ 1681a(l)(1)–(3)).
Comes with a notice: a person who uses a consumer report provided under § 1681b(c)(1)(B) for a transaction the consumer did not initiate must include, with each written solicitation, a clear and conspicuous statement that information in the consumer's consumer report was used in connection with the transaction; that the consumer received the offer because the consumer satisfied the criteria for credit worthiness or insurability under which the consumer was selected; that, if applicable, the credit or insurance may not be extended if, after the consumer responds, the consumer does not meet the criteria used to select the consumer or any applicable criteria bearing on credit worthiness or insurability, or does not furnish any required collateral; that the consumer has a right to prohibit information in the consumer's file with any consumer reporting agency from being used in connection with any credit or insurance transaction not initiated by the consumer; and that the consumer may exercise that right through a notification system established under § 1681b(e) (15 U.S.C. § 1681m(d)(1)).
Where you'll see it
On a written credit or insurance solicitation you did not initiate, when the offer was based on consumer report information furnished under 15 U.S.C. § 1681b(c)(1)(B). Separately, the CFPB notes that even after a consumer opts out, card issuers can still solicit the consumer if they have done business with the consumer before or get the consumer's name from other sources. Under 12 CFR § 1022.54(c), a person who uses a consumer report provided under 15 U.S.C. § 1681b(c)(1)(B) for a transaction the consumer did not initiate, other than a person excluded by section 1029 of the Consumer Financial Protection Act of 2010 (§ 1022.54(a)), must provide, with each written solicitation, a statement consisting of a short portion and a long portion, in the same language as the offer of credit or insurance. The short notice shall state that the consumer has the right to opt out of receiving prescreened solicitations, shall provide the toll-free number the consumer can call to exercise that right, and shall direct the consumer to the existence and location of the long notice.
The rule behind it
The term "firm offer of credit or insurance" means any offer of credit or insurance to a consumer that will be honored if the consumer is determined, based on information in a consumer report on the consumer, to meet the specific criteria used to select the consumer for the offer, except that the offer may be further conditioned on one or more of the following:
When an agency may furnish a report for an offer you didn't ask for (§ 1681b(c)(1)): for a credit or insurance purpose under § 1681b(a)(3)(A) or (C), only if the consumer authorizes it, or if the transaction consists of a firm offer of credit or insurance, the agency has complied with the opt-out requirements of § 1681b(e), there is not in effect an election by the consumer to have the consumer's name and address excluded from the agency's lists, and the consumer report does not contain a date of birth that shows that the consumer has not attained the age of 21, or, if it does, such consumer consents. Section 1681b(c)(2) then says that a person may receive pursuant to paragraph (1)(B) only the name and address of a consumer; an identifier that is not unique to the consumer and that is used by the person solely for the purpose of verifying the identity of the consumer; and other information pertaining to a consumer that does not identify the relationship or experience of the consumer with respect to a particular creditor or other entity. Separately, under § 1681a(l)(2), the offer may be further conditioned on verification that the consumer continues to meet the specific criteria used to select the consumer for the offer, by using information in a consumer report on the consumer, information in the consumer's application for the credit or insurance, or other information bearing on the credit worthiness or insurability of the consumer.
Records: a person who makes an offer of credit or insurance under a transaction described in § 1681m(d)(1) must keep on file the criteria used to select the consumer to receive the offer, all criteria bearing on credit worthiness or insurability that are the basis for deciding whether to extend credit or insurance under the offer, and any requirement for the furnishing of collateral, until the expiration of the 3-year period beginning on the date on which the offer is made to the consumer (§ 1681m(d)(3)).
What the CFPB says
Credit card issuers, auto finance companies, and other lenders or insurers can ask the credit reporting companies for a list of names and addresses of individuals who meet certain criteria, such as a minimum credit score, and the credit reporting companies provide these lists based on their credit files.
If you opt out, your name will no longer appear on lists provided by credit bureaus. However, card issuers can still solicit you if they have done business with you before or they get your name from other sources and send you invitations to apply for a card.
Questions people ask
Does a firm offer mean I will get the credit or insurance?
Not necessarily. Under § 1681a(l), the offer will be honored if the consumer meets the specific criteria used to select the consumer for the offer, but it may be further conditioned on application criteria set before selection, verification, and collateral set in advance and disclosed in the offer. The required statement says, if applicable, that the credit or insurance may not be extended if, after the consumer responds to the offer, the consumer does not meet the criteria used to select the consumer for the offer or any applicable criteria bearing on credit worthiness or insurability or does not furnish any required collateral (§ 1681m(d)(1)(C)).
Why did I receive one?
The statement with each written solicitation must say that information contained in the consumer's consumer report was used in connection with the transaction, and that the consumer received the offer because the consumer satisfied the criteria for credit worthiness or insurability under which the consumer was selected (§ 1681m(d)(1)(A)–(B)). The CFPB describes lenders and insurers asking the credit reporting companies for lists of people who meet certain criteria, such as a minimum credit score.
How does the opt-out work?
Under 15 U.S.C. § 1681b(e), a consumer may elect to have the consumer's name and address excluded from these lists, either through the agency's notification system, which must include a toll-free telephone number, or by submitting a signed notice of election form issued by the agency. An election made only through the notification system is effective, unless the consumer ends it earlier through that system, during the 5-year period beginning 5 business days after the consumer notifies the agency; an election made with the signed form is effective beginning 5 business days after the consumer notifies the agency, until the consumer notifies the agency through the notification system that the election is no longer effective (§ 1681b(e)(4)). The CFPB notes that card issuers can still solicit a consumer who opts out if they have done business with the consumer before or get the consumer's name from other sources.
Sources: 15 U.S.C. § 1681a (FCRA definitions) · 15 U.S.C. § 1681b · 15 U.S.C. § 1681m · 12 CFR § 1022.54 (Regulation V) · CFPB: Why do I receive so many offers for new credit cards in the mail? · CFPB: Can I make issuers stop sending me credit card offers in the mail?
Sources last checked: October 24, 2026.
Everything here is consumer information — not financial or legal advice. It covers what a rule says and where to find it; the decisions stay yours.