Credit Basics
What is credit?
Credit is the reputation you have earned for paying your bills on time that makes it possible for you to receive loans, etc. with the understanding that you will pay for them later.
Can anyone get a copy of my credit report?
No, some individuals and businesses are allowed, for business reasons, to obtain credit reports on people other than themselves, but there are strict laws and penalties in place to ensure that this privilege is not abused.
Are there laws that protect me from not getting the credit I deserve?
Credit can not be denied to you because of race, sex, color, religion, marital status, national origin, age (if you are over 18) or because you receive income from a public assistance program. Whether or not you can receive credit is judged solely on your past credit history, or in some cases, the history of your spouse or former spouse. You can find these rights outlined in the Equal Credit Opportunity Act.
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