What Are My Rights If I'm
Denied Credit?

You have a Right to Know

The law protects your right to know why your credit application was denied. If you are denied credit, you have a legal right to know why. You also have the legal right to see any information about you that is on file at credit and other consumer reporting agencies.

Under the Equal Credit Opportunity Act (ECOA), you have the legal right to know why your credit application was denied. This law stipulates that you cannot be denied credit on the basis of your race, sex, marital status, religion, age, national origin or receipt of public assistance.

Under the Fair Credit Reporting Act (FCRA), you must be told if information in any of your consumer reporting agency files has been used against you. You must be told if your application for credit, insurance, or employment has been denied based on your credit or other type of consumer report. If so, you must be given the name, address and phone number of the agency that provided the information.

The FCRA also entitles you to know what information about you is on file at various consumer reporting agencies and provides you with a process for disputing incomplete or inaccurate information.

You are entitled to a free credit report whenever your request for credit, insurance, employment or rental housing is denied based on information contained in the report.