Consumers can establish their good credit record in several ways.
Credit bureaus gather and maintain personal financial information that lenders use in evaluating credit applications. Credit reports contain personal and financial information. The Fair Credit Reporting Act assures a consumer's right to privacy and that the credit record contains correct and complete information. The Equal Credit Opportunity Act eliminates discrimination based on sex, race, age, or religion. It is of particular value to women because it insures that credit cannot be denied based on sex or marital status.