Assume you have a well-established credit history and have filled out an application for credit at a local department store. The store has notified you that it cannot give you credit because you have a poor credit rating. You have not missed any payments or made any late payments, and you have paid off previous debts as agreed. What are your rights, and what are some things you should do? What responsibilities does the credit bureau have to you?

Describe what you must do if you believe a statement you receive from a creditor contains an error. Describe the process for error correction, including your responsibilities and time limits and the responsibilities and time limits of your creditor.

Match the terms with the definitions. Some terms may not be used.

a. capacity

b. character

c. credit bureau

d. credit freeze

e. credit history

f. credit report

g. creditworthy

h. subscribers

___ A consumer request to deny all access to his or her credit information and files

What kinds of credit do you think you will be using in five years? How will you establish a good credit rating to be eligible for increasing credit limits and privileges?

Match the terms with the definitions. Some terms may not be used.

a. capacity

b. character

c. credit bureau

d. credit freeze

e. credit history

f. credit report

g. creditworthy

h. subscribers

__ A responsible attitude toward honoring one's obligations

Match the terms with the definition. Some terms may not be used.

a. billing statement

b. credit inquiry

c. credit rating

d. credit score

e. debt collector

f. discrimination

g. point system

h. rate shopping

___ An itemized bill showing all charges, credits, and payments posted to your account

What reasons would a business have to request a credit report?

Match the terms with the definitions. Some terms may not be used.

a. capacity

b. character

c. credit bureau

d. credit freeze

e. credit history

f. credit report

g. creditworthy

h. subscribers

___ A business that gathers, stores, and sells credit information to other businesses

Match the terms with the definition. Some terms may not be used.

a. billing statement

b. credit inquiry

c. credit rating

d. credit score

e. debt collector

f. discrimination

g. point system

h. rate shopping

___ A method of evaluation in which points are assigned by a credit bureau on factors such as amount of current debt and amount of income ~

Match the terms with the definitions. Some terms may not be used.

a. capacity

b. character

c. credit bureau

d. credit freeze

e. credit history

f. credit report

g. creditworthy

h. subscribers

___ A person who is a good credit risk

Are credit guard companies a good deal for consumers? Why or why not? Why would a person choose to freeze his or her credit?

Match the terms with the definition. Some terms may not be used.

a. billing statement

b. credit inquiry

c. credit rating

d. credit score

e. debt collector

f. discrimination

g. point system

h. rate shopping

___ Treating people differently based on prejudice rather than individual merit

Your neighbor recently purchased a refrigerator on credit but was unable to continue making payments because he lost his job. In the last week, he has received abusive telephone calls at home from a debt collector. Your neighbor has volunteered to return the refrigerator, but the debt collector refuses and threatens him with public humiliation. The collector has now come to your house looking for him and has made false and degrading comments about the neighbor's character. Are the debt collector's actions legal? Why or why not? What advice would you give?

Obtain a written error policy supplied by a credit card company or other creditor .