Credit Denied (1960s)

Right Fought For: The right to open a credit card or bank account without a husband or male co-signer.

Even as women began entering the workforce in larger numbers in the 1960s, financial systems didn’t trust them. Banks often refused to issue credit cards to single women. Married women were asked to bring in their husbands to co-sign—even if the wife earned more money. Women were denied car loans, small business loans, and mortgages for no other reason than their gender.

This wasn’t just frustrating—it was paralyzing. Without credit, women couldn’t rent apartments, build a business, or leave bad relationships. A woman’s financial autonomy didn’t exist unless a man agreed to back her.

It took lawsuits, testimony, and relentless advocacy to change this. In 1974, Congress passed the Equal Credit Opportunity Act, finally making it illegal for banks to discriminate based on sex or marital status. For the first time in U.S. history, a woman could apply for credit on her own and be judged on her income—not her husband’s.

It wasn’t just a financial shift. It was a power shift.

Sources:

• Federal Reserve History. “Equal Credit Opportunity Act of 1974.” federalreservehistory.org

• PBS NewsHour. “Women weren’t always allowed to have credit cards. Here's why.” pbs.org

• Smithsonian Magazine. “Why Women Couldn't Own Property or Get Credit Until the 1970s.” smithsonianmag.com