Credit score does not have anything to do with a person's job performance.
2007-07-18 08:33:00 · 5 answers · asked by Michelle J 1 in Business & Finance ➔ Credit
Supposedly studies have shown that a person's responsibility in repaying their debts has a direct correlation to work productivity, absenteeism, honesty, etc. In addition, if you're working for a financial institution, they have a right to know how responsible you are with money, since you'll be dealing with it every day. It sucks, but unfortunately its not illegal. Its considered a background check--just like a criminal record, driving record, etc. when you seek employment. You have to sign paperwork giving them permission to run your credit, therefore its not illegal.
2007-07-18 08:41:46 · answer #1 · answered by Ari 3 · 1⤊ 0⤋
Employers are allowed to use credit scores as a means of determining the responsibility level of a potential employee. They consider that a person who scrupulously maintains his financial liabilities may well provide for an employee who is equally careful about how he/she handles company work provided to the employee. As well, an employer may use this information to ascertain whether or not they think a particular employee may be more theft prone because of a financial situation.
A credit standing is not a protected class amongst the many provided as such under the Equal Employment Opportunity Act.
2007-07-18 08:46:05 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
A bad credit history can be an indicator of unreliability and irresponsibility. Of course, no single factor can tell a person's suitibility for a job, just as an out of place hair means someone is sloppy. It is just one factor.
Employers are simply trying to place the best people in the available positions. Hiring someone, only to let him go shortly is an expensive, time consuming process.
2007-07-18 08:43:32 · answer #3 · answered by Vince M 7 · 0⤊ 0⤋
No it doesn't have anything to do with job performance. When they started doing credit checks on their employees I thought it was none of their business. I still feel that way. I think employers have no right to be able to know what your credit score is. You are there to work. Not getting a loan or anything.
2007-07-18 08:39:15 · answer #4 · answered by Anonymous · 2⤊ 2⤋
it shows the character of individuals
2007-07-18 08:49:12 · answer #5 · answered by Anonymous · 1⤊ 0⤋