Credit Applications – Know Your Rights

All credit applications are processed under the Equal Credit Opportunity Act (ECOA), which is a federal law that prohibits creditors from discriminating credit applicants on the basis of sex, marital status, race, color, religion, age, and/or receipt of public assistance.

Knowing you rights under the ECOA is the first step to maximizing your chances of getting approved.

When creditors evaluate your credit application, they cannot lawfully engage in discriminatory practices. Although they may ask for such information (excluding religion), they are prohibited from using it to discriminate when deciding whether to grant you credit or not.





The ECOA binds all companies and entities that regularly extend credit, such as (but not limiting) banks, credit card companies, real estate brokers, credit unions, retail & department stores, small loan & finance companies and many more.

The ECOA protects both private people applying for credit as well as businesses.

Here are 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 public assistance.
  • 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, and you may be entitled for an additional free credit report on top of your annul free credit report.









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