 TITLE: What Is a Firm Offer of Credit and Why Does It Matter? CONTENT: Knowing a lender's obligations under the FCRA can help you determine whether a credit offer is truly worth applying for. Under the law, lenders that initiate a prescreen are required to:\n*   Provide notices to consumers who are offered credit based on the lender's preapproved list.\n*   Maintain records of the prescreened lists.\n*   Allow consumers to opt out of prescreened offers.\n*   Extend firm offers of credit to consumers who pass the lender's prescreening.\nWhat this means for you is that unless your credit profile changes dramatically from the time the lender reviews it and the time you apply, the lender is required to extend the firm offer of credit outlined in the offer. END