Equal Credit - Importance of credit for all.

Did you know that women were not able to open credit in their own names until 1974 when the Equal Credit Opportunity Act was passed? This was a time when women faced many obstacles in obtaining credit. Today this would create barriers to home ownership, purchasing a vehicle, higher utility deposits, insurance rates, ability to obtain a cell phone carrier, and even jobworthiness. Even today, there are still many people - both men and women - who are not aware of how to read a credit report or score, negotiate with lenders, and the importance of credit.

Just in case you love reading the actual act and our laws you can find the details of this act at

https://www.justice.gov/crt/equal-credit-opportunity-act-3

https://www.govinfo.gov/content/pkg/USCODE-2011-title15/html/USCODE-2011-title15-chap41-subchapIV.htm

Credit is so much more than being able to buy now and pay later, and having your own credit is important.

If you have questions about credit don't hesitate to ask. It is never too late or too early to learn about how positive knowledge about credit can be a step on your path to financial wellness.

Here are a few articles that I enjoyed reading about regarding the Equal Credit Opportunity Act as well as some informational tools to learn more about credit!

1. https://www.nerdwallet.com/article/credit-cards/women-credit-decades-70s

2. https://www.cnbc.com/select/why-building-credit-is-so-important/

3. https://finances.extension.wisc.edu/articles/credit-report-vs-score/

If you have read any or all of the above articles, you may be wondering how this information affects you and what steps you can take. While there are many suggestions available, some may work better for you than others. However, you may still have questions that need to be answered. When you're ready to ask those questions, I'll be here to help you decipher your credit puzzle!