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Published byElfreda O’Connor’ Modified over 9 years ago
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Section 6-4 Credit Cards: How to Protect them
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Fair Credit Reporting Act Forbids credit agencies from giving up incorrect information
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Fair Credit Billing Act Consumer can preserve their credit rating while settling disputes between stores and credit card companies
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Equal Credit Opportunity Act Prevents discrimination on the basis of sex, marital status, race, color, religion, age, or national origin Cannot Deny credit because an applicant receives income from a Federal program Cannot ask questions about birth control practices, plans for children, or assume an interruption in income due to pregnancy
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Equal Credit Opportunity Act Cannot ask about martial status unless the partner will be involved Refuse to consider part-time income of a working spouse, alimony, child support, or Social Security programs Cancel a divorced or widowed persons credit when the marriage ends unless the income has dropped so much that the person may not be able to pay
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Stolen Cards If your card is stolen the most that you may be charged is $50
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Precautions Destroy any cards you don’t use Make a list of all credit cards, including the card number, name, phone number, and address of the card issuer in a safe place at home Make sure you hold on to your card Do not leave credit cards in glove boxes Check your online account and credit rating
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