Is it legal for a creditor to deny an applicant credit based on marital status or age?

19. It is legal for a creditor to deny an applicant credit based on marital status or age. 20. If you are denied credit, the creditor is not legally obligated to explain why.

What does your credit card statement tell you answer key?

student activity key 8-2 A credit card statement provides information such as how and when you’ve used your credit card, how much you owe, how much interest you’re paying to use the card, how much your minimum payment is, and how much credit you have left.

Which credit card has the highest annual percentage rate and how much is it worksheet?

The current highest credit card interest rate is 36%. That’s on the new First PREMIER® Bank Credit Card. The next highest credit card interest rate seems to be 34.99%, charged by the Total Visa® Card and the First Access Visa® Card.

What is a red flag for an Equal Credit Opportunity Act violation?

ECOA violations. 1. The lender changes its story after meeting a client face-to-face after telephone conversation approval. 2. There is any indication that the loan is denied based on personal status.

Which action can hurt your credit score?

Defaulting on accounts. The types of negative account information that can show up on your credit report include foreclosure, bankruptcy, repossession, charge-offs, settled accounts. Each of these can severely hurt your credit for years, even up to a decade.

How do you read a credit statement?

This includes:

  1. The total credit card balance. This is the total amount that is currently charged to your credit card.
  2. The minimum payment amount due.
  3. A calculation on how long it will take to pay off your balance.
  4. Available credit.
  5. Total interest and fees paid this year.

What happens if you go into debt?

Unpaid debts sent to collections hurt your credit score and may lead to lawsuits, wage garnishment, bank account levies and harassing calls from debt collectors. An outstanding collection account can also cause you to receive unfavorable interest rates or insurance premiums and lose out on coveted jobs and housing.

Is 29.99 a high interest rate?

Dear Vera, It is an unfortunate truth that one can very quickly do major damage to one’s credit score. However, the reverse is true when trying to build credit back up.

Should you close a credit card with a high interest rate Why?

Since your credit score affects the interest rates you get offered, you might want to avoid canceling a high-interest credit card altogether. Instead, you can transfer your balance (or pay it off in full) and let the account remain open and in good standing.