selecting a credit card
The Fair and Accurate Credit Transactions Act
The Fair and Accurate Credit Transactions Act (FACTA) requires that consumers be notified when credit or a loan has been granted to them, but with rates that are less than standard. Which of these other safeguards does this law include?
Consumers have the right to receive one free credit report annually from each of the three major credit reporting companies.
Consumers prohibit the sharing of their credit info for marketing purposes and dispute info creditors submit to their credit reports.
Consumers can place fraud alerts on their credit files to block information resulting from identity theft or fraud.
These protections ALL apply. Creditors also cannot send data to credit reporting companies once a consumer submits an
identity theft report relating to the same info. Credit account numbers must be truncated - for example: xxxx xxxx xxxx 5234.