What’s My Credit Score? AKA The Cost Of Credit?
What’s My Credit Score? AKA The Cost Of Credit
The Consumer Credit Protection Act of 1968–which launched Truth in Lending–was a landmark piece of legislation. For the first time, creditors had to state the cost of borrowing in a common language so that you–the customer–could figure out exactly what the charges would be, compare costs, and shop around for the credit deal best for you. Since 1968, credit protections have multiplied rapidly. The concepts of “fair” and “equal” credit have been written into laws that outlaw unfair discrimination in credit transactions; require that consumers be told the reason when credit is denied; let borrowers find out about their credit records; and set up a way to settle billing disputes… more
What’s My Credit Score? AKA The Cost Of Credit?