Will I pass an employment check on credit?

Question

I need to pass a credit check for employment. I checked my credit out and I have a 596. I'm twenty one years old and I had one credit card that went to collections in 2004 but has been paid off. The lady made it seem like scores were a factor but mainly it's for bankruptcy, foreclosures and repossesions. I have two loans that are in great standing. Do you think I'll be okay? Also, any general advice on how to raise it back up? I'd rather not go for another type of credit card and I've already tried talking to the company and they won't erase it off my credit score.

Any comments?

Answer 1

The reason why some companies check for credit is due to if there's a significant amount of money that will be handled. The companies feel that with a person that has a lower credit score, they would be more likely to try to embezzle in order to pay off their bad debts. It's kinda jacked up how they would believe that someone with a higher credit score would have higher morals. If you don't have anything else derogatory on your report it should be fine. Now a piece of advice on trying to raise it back up...

What you can do is write a letter to the company that posted the bad debt, but as you said they wouldn't cooperate. Another way would be to enlist the help of a 3rd party service (i.e. http://www.lexingtonlaw.com) to see whether or not they can get it removed. I personally am using their service, and I've gotten results. Just a thought. Another thing you can do it try out this website: http://prbc.com/consumers

This is an agency that actually reports like the "big 3" credit bureaus. The difference is that it reports your payment history, more importantly. They use what's called a BPS (Bill Payment Score) which can be used in addition to your traditional credit reports. Also they offer a bill payment service in which you register with them, you You can have all of your payments sent out online as you would if you did it through your bank. It's $4.95 a month, but that's a small price to pay not only to have your good credit reported every month

Answer 2

You should be fine-- nothing fraudulent or wacky going on...just the usual stuff.

Unfortunately, credit reports are made up partly of installment accounts (loans) and partly of revolving accounts (credit cards) you really need both for a strong score.

You should get a small secured card or a visa somewhere like Orchard Bank. If you dont get any new credit cards, it wont help 'erase' the bad history. Orchard will give you a low limit with an annual fee, but it will help you out. Just pay off the annual fee and don't even use it. It still counts as on time payments if you have no payment due at all. :-) You can just keep it a year or two til your score goes up and then just get something simple like a department card that you dont even use-- no need to actually go into debt.

Answer 3

You should have no problem getting past the credit check with a score like that. You are within the national average.

Answer 4

U SHOULD BE FINE LIKE THE OTHR GUY SAID! BUT WHY DO THEY DO CREDIT CHECKS FOR JOBS! IVE APPLIED FOR JOBS WITH CREDIT CHECKS BEFORE AND NOT GOT THE JOB I DONT UNDERSTAND THE RELEVENCE THO