Consumer Credit Rights
http://creditfederal.com/article/articles/778/1/Consumer-Credit-Rights
By CreditFederal.com - A good or bad credit personal loan, auto and mortgage financing, and credit card resource.
Published on 01/16/2012
The Equal Credit Opportunity Act - Comparing credit is much the same as shopping for all other products and services. Just as you would shop for the best price, with credit you shop for the lowest interest rate.
The Equal Credit Opportunity Act protects consumers when dealing with banks, credit unions, finance companies, credit card companies and so forth.
When you apply for credit, the creditor cannot:
* Ask about or consider your sex, race, national origin or religion.
* Ask about your marital status or your spouse, unless you are applying for a joint account or relying on your spouse's income, or you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin)
* Ask about your plans to have or raise children
* Refuse to consider public assistance income or regularly received alimony or child support
* Refuse to consider income because of your sex or marital status or because it is from part-time work or retirement benefits
You have the right to:
* Have credit in your birth name, your first name and your spouse/ partner's last name, or your first name and a combined last name
* Have a co-signer other than your spouse if one is necessary
* Keep your own accounts after you change your name or marital status or retire, unless the creditor has evidence you are unable or unwilling to pay
* Know why a credit application was rejected-the creditor must give you the specific reasons or tell you where and how you can get them if you ask within 60 days
* Have accounts shared with your spouse reported in both your names
* Know how much it will cost to borrow money
* You have right to an annual, really free credit report with no credit card required.
* Ask about or consider your sex, race, national origin or religion.
* Ask about your marital status or your spouse, unless you are applying for a joint account or relying on your spouse's income, or you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin)
* Ask about your plans to have or raise children
* Refuse to consider public assistance income or regularly received alimony or child support
* Refuse to consider income because of your sex or marital status or because it is from part-time work or retirement benefits
You have the right to:
* Have credit in your birth name, your first name and your spouse/ partner's last name, or your first name and a combined last name
* Have a co-signer other than your spouse if one is necessary
* Keep your own accounts after you change your name or marital status or retire, unless the creditor has evidence you are unable or unwilling to pay
* Know why a credit application was rejected-the creditor must give you the specific reasons or tell you where and how you can get them if you ask within 60 days
* Have accounts shared with your spouse reported in both your names
* Know how much it will cost to borrow money
* You have right to an annual, really free credit report with no credit card required.