Credit applications know my rights
When creditors evaluate a credit application, they cannot
lawfully engage in discriminatory practices.
The Equal Credit Opportunity Act (ECOA)
prohibits credit discrimination on the basis of sex, race,
marital status, religion, national origin, age, or receipt
of public assistance. Creditors may ask for this information
(except religion) in certain situations, but may not use
it to discriminate when deciding whether to grant you credit.
The ECOA protects consumers who deal with companies that
regularly extend credit, including banks, small loan and finance
companies, retail and department stores, credit card companies,
and credit unions. Everyone who participates in the decision to
grant credit, including real estate brokers who arrange
financing, must follow this law. Businesses applying for credit
also are protected by this law.
Your rights under the Equal Credit Opportunity Act:
- You cannot be denied credit based on your race, sex,
marital status, religion, age, national origin, or receipt of
- You have the right to have reliable public assistance
considered in the same manner as other income.
- If you are denied credit, you have a legal right to know why.
The Score That Matters®
The FICO Score is the standard credit score in the US, used in more than 90% of lending decisions.