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The Equal Credit Opportunity Act (ECOA) defines the reasons that are unacceptable for denying credit including the following:
* Race
* Color
* Religion
* National Origin
* Sex
* Marital Status
* Age
* Public Assistance Status
* Age (must be over 18)
Some acceptable reasons for denying credit include the following:
* Poor credit history/score
* Income is too low to service loan (after required spend)
* Too many recent inquiries for credit
* Debt load is already too high to acknowledge risk
* Not enough of a credit history
* etc.
What else can I help you with?
What are acceptable and unacceptable ways to use credit?
An acceptable way to use credit is to buy groceries and clothes. An unacceptable way is to buy a tank or Australia with it.
What is a credit score scale?
The credit score scale ranges from 0 to 800. Everything above 720 is considered a good credit score. Below 500 is considered unacceptable.
Is 577 a bad credit score?
577 is a fairly poor credit score. To have a credit score that is acceptable, you want your score to be between 620-680.
What does it take to borrow a loan from a bank?
Steady income (and a history of such income)in an amount enough to repay debts, acceptable credit history, an acceptable loan purpose, and if required, acceptable collateral
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
What are acceptable and unacceptable ways to use credit?
An acceptable way to use credit is to buy groceries and clothes. An unacceptable way is to buy a tank or Australia with it.
Which are the reasons of rejection in sales order process?
Price wrong. Promises made wrong. Credit terms unacceptable Customer bad credit risk. Like that?
What are acceptable explanations for late payments on a credit report?
There are NO acceptable excuses.
What is a credit score scale?
The credit score scale ranges from 0 to 800. Everything above 720 is considered a good credit score. Below 500 is considered unacceptable.
Which ID is not acceptable in the state of Nevada?
credit card
What types of discrimination are unlawful in granting or denying credit?
The Equal Credit Opportunity Act prohibits a creditor from discrimination in granting or denying credit. Discrimination is unlawful based on race or color, national origin, sex, marital status, age, religion, or public assistance status.
Is 577 a bad credit score?
577 is a fairly poor credit score. To have a credit score that is acceptable, you want your score to be between 620-680.
What does it take to borrow a loan from a bank?
Steady income (and a history of such income)in an amount enough to repay debts, acceptable credit history, an acceptable loan purpose, and if required, acceptable collateral
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
What company patented the invention of James Dewar thus denying him credit?
Thermos
What principle keeps one state from denying the validity of a birthcertificate that was issued bby another state?
Full Faith and Credit Clause
What principle keeps one state from denying the validity of birth certification that was issued by another state?
Full Faith and Credit Clause
