Bad Credit Can Blacklist Job Seekers. Your credit rating. Most people only worry about it when they're applying for a mortgage or credit card. But did you know your bad credit rating could keep you from getting the job you want?
If you're applying for a high-security job or a position with heavy financial responsibilities, the way you have handled your personal finances can color your chances of being hired in these sensitive, accountable situations.
Why is it anyone's business if you have a little 'bounce' in your checks?
Credit rating and job performance -- what does one have to do with the other? Apparently, plenty. Clifton O'Neal at TransUnion credit reporting agency in Chicago notes: "Studies have shown a correlation between how people manage personal affairs and their job performance, especially if they're in charge of financial information."
It's a fact: Companies are going to snoop into your background.
Most employers routinely perform standard background checks on job candidates. But some companies are taking inspection of potential employees one step further to include their credit history.
At Exxon Mobil, everybody gets a background check, according to the company's media relations manager Mark Boudreaux. Credit checks, however, "are reserved for individuals who will have a job that has a significant financial component."
The criteria for credit reporting is echoed by Rod Griffin of Experian credit information firm. "Typically, when we see businesses requesting credit checks it's for money management positions, such as comptroller and financial planning. Or those who will be conducting security functions."
Damage control need not involve a deal with the devil.
So what can you do if your credit is less than stellar, but you have your eye on that accounting position? "It's important for the applicant to be upfront," O'Neal says. "Let them know, 'Here's what you'll find and here's how I'm correcting it.'"
There are legitimate reasons for a credit rating slump. Perhaps you went through a divorce or were a victim of identity theft. "That's why it's a good idea when you're applying for a position to pull a copy of your credit report so you know what's in it ahead of time and can verify that the information contained in the report is correct," O'Neal suggests.
Griffin agrees: "It is highly recommended for everyone to get a full credit report every year. You can get one free every 12 months. You should know what is in your credit report, regardless of whether you're applying for a job or not, so you can spot any irregularities or catch potential cases of identity theft."
You don't feel like the emperor in his "new clothes."
If the thought of strangers poking around in your personal affairs leaves you feeling a bit exposed, remember, you always can refuse such scrutiny. Not one bit of information will be given to anyone requesting it without your signed approval. "So as a job applicant, read through everything before you sign," O'Neal advises.
"Credit reporting agencies take out any info that could interfere with equal employment, such as age, gender, and spousal information. And all account numbers are omitted or truncated for security purposes," Griffin adds. ( msn.com )
If you're applying for a high-security job or a position with heavy financial responsibilities, the way you have handled your personal finances can color your chances of being hired in these sensitive, accountable situations.
Why is it anyone's business if you have a little 'bounce' in your checks?
Credit rating and job performance -- what does one have to do with the other? Apparently, plenty. Clifton O'Neal at TransUnion credit reporting agency in Chicago notes: "Studies have shown a correlation between how people manage personal affairs and their job performance, especially if they're in charge of financial information."
It's a fact: Companies are going to snoop into your background.
Most employers routinely perform standard background checks on job candidates. But some companies are taking inspection of potential employees one step further to include their credit history.
At Exxon Mobil, everybody gets a background check, according to the company's media relations manager Mark Boudreaux. Credit checks, however, "are reserved for individuals who will have a job that has a significant financial component."
The criteria for credit reporting is echoed by Rod Griffin of Experian credit information firm. "Typically, when we see businesses requesting credit checks it's for money management positions, such as comptroller and financial planning. Or those who will be conducting security functions."
Damage control need not involve a deal with the devil.
So what can you do if your credit is less than stellar, but you have your eye on that accounting position? "It's important for the applicant to be upfront," O'Neal says. "Let them know, 'Here's what you'll find and here's how I'm correcting it.'"
There are legitimate reasons for a credit rating slump. Perhaps you went through a divorce or were a victim of identity theft. "That's why it's a good idea when you're applying for a position to pull a copy of your credit report so you know what's in it ahead of time and can verify that the information contained in the report is correct," O'Neal suggests.
Griffin agrees: "It is highly recommended for everyone to get a full credit report every year. You can get one free every 12 months. You should know what is in your credit report, regardless of whether you're applying for a job or not, so you can spot any irregularities or catch potential cases of identity theft."
You don't feel like the emperor in his "new clothes."
If the thought of strangers poking around in your personal affairs leaves you feeling a bit exposed, remember, you always can refuse such scrutiny. Not one bit of information will be given to anyone requesting it without your signed approval. "So as a job applicant, read through everything before you sign," O'Neal advises.
"Credit reporting agencies take out any info that could interfere with equal employment, such as age, gender, and spousal information. And all account numbers are omitted or truncated for security purposes," Griffin adds. ( msn.com )
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