selecting a credit card
The Equal Credit Opportunity Act
The Equal Credit Opportunity Act (ECOA) forbids credit discrimination based on color, race, national origin, religion, sex, marital status, age, or because you receive public assistance. Which of these also applies?
Creditors may not ask you for any personal information.
Creditors may ask you for this information in certain cases, but may not use it to decide if you receive credit or the terms of your account.
Creditors must grant credit to anyone who applies.
"B" is correct. Any institution that regularly extends credit must comply with the ECOA; however, not everyone who applies for credit is approved or receives the best interest rate. Your credit history, current expenses, other debts, and income all affect your creditworthiness.