How can a bad credit score prevent me from getting a job?

Answer 1

Employers that check credit scores do so because they feel that people that have lower credit scores are less responsible with their money & will most likely be less responsible on the job. It stinks, but with less & less jobs available companies can be as picky as they want.

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redit checks for job applicants
Government workers aren�t the only ones whose credit histories are being scrutinized. Anyone who has had trouble paying bills could find his or her finances endangered again as employers use credit information to help decide who to hire, fire or promote.

There are some indications such credit checks are on the rise. About 35% of the companies surveyed by the Society for Human Resource Management pulled the credit reports of current or potential employees last year, up from 19% in 1996.


Other experts say employers are far more interested in other kinds of background checks, including identity verification and criminal histories.

Five years ago, nearly all employers who bothered to do background checks wanted a credit report pulled, said James Lee, chief marketing officer of ChoicePoint Inc., which does 6 million background checks annually. Today, far more employers are screening their workers, Lee said, but fewer than 30% of ChoicePoint�s customers want credit information.

�Credit has not turned out to be a good predictor of workplace theft. This is what our customers are telling us, anyway,� Lee said. �A better predictor is a criminal history involving bounced checks.�

Lie on the application, lose the job
Job applicants are much more likely to lose a job because they have a recent criminal history or they lied on an application about their identity, experience or education, said William Greenblatt, CEO of Sterling Testing Systems Inc., a New York City background checking firm.

�Of the 10,000 adverse action letters we send out monthly, very few of them are credit related,� Greenblatt said. �It�s less than 5%.�

Employers are more likely to use credit reports as a way to verify employment history and Social Security numbers, Greenblatt said. Lenders often verify employment when you apply for a loan or credit card, so a credit report is seen as a good way to double check the employers listed on a job-seeker�s application.

The federal government still routinely requests credit checks for employees, Lee said, but typically denies jobs or promotions only when the employee would have direct access to cash on the job, or security clearances are involved.

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Answer 2

There is something called protective classes, i.e. race, religion, creed, disabilities, and a few others. Companies cannot NOT hire you because of these protective creeds. Credit score is not considered a protective class and a company is within it's legal rights to not hire you due to your credit score. I know some companies are using a credit score in it's judgement of future employees in thinking "If he/she can't keep their own financial picture in order, how the heck are they going to help run my business."

Answer 3

If the job you are applying for is a sensitive, government position, they are worried that a low credit score and financial troubles may make you more vunerable to bribery. I think that this is a problem in any sensitive, private corporation jobs, too.

Answer 4

Some employers look at credit responsibility as it equates to overall responsibility, especially jobs where handling other peoples assets or personal information are involved..

Answer 5

Depending on the job you are applying for, many corporations see it as a red flag. If you can't handle your own finances, how well will you handle theirs. The other issue is that people who are having financial difficulties are more pron to steel from the company,

Answer 6

If I hire you, but cannot trust you to handle money as a cashier or in accounting, then you have eliminated any flexibility in staffing.
You may have the greatest smile in 3.4 burroughs of NY or 15 counties of CO, but if I have to worry about the till when you work, you're not worth it.

Answer 7

Maybe working around money may be a problem, but anything else when they do your background check for a federal government position they will ask you to make arrangements with your debt collectors to pay them and then will ask for proof that you have negotiated with them to pay before hireing you.

Answer 8

I know that if it is a government job it will deffintatley affect u because they look at you like you are a risk to them as an employee.

Answer 9

Banks and financial institutions will be unlikely to consider you.

Answer 10

what ever job that has to do with cash on your hands such as pizza delivery.......and what ever job that do a credit check....