Credit Advice

In today's economic climate, employers are being extremely selective in weeding through job candidates and are looking for candidates that demonstrate financial responsibility and financial stability. Once reserved for jobs dealing with significant money or government-related work, credit checks are becoming commonplace in the hiring process for every work sector. The rationale it is that an applicant’s financial history and the way they manage your money is a valuable tool in assessing their personal character and job performance. In addition, employers can compare the credit report to the resume to look for any discrepancies.

This means that applicants with bad credit may have a harder time than an equally-qualified candidate with good credit. Negative marks on a credit report can be an indication of the potential riskiness of hiring a certain applicant. Enormous debts or credit card cancellations could indicate a person living beyond their means or suggest a likelihood of stealing, defaults and evictions may spell financial risk and unreliability, and a serious negative mark like a bankruptcy or foreclosure could question your integrity and ability to manage a job let alone your own money.

Keep your financial resume intact by checking your credit report for errors at AnnualCreditReport.com, paying down debts, and regularly paying bills on-time. A not-so-healthy credit report won’t kill your job prospects; if the employer informs you they will be conducting a credit check (legally, they need your written permission before they hire a third party to do a credit inquiry), you can preemptively explain negative marks on your credit report and assure them you are working on improving your credit.

Wow, thanks for all the help. I understand it better now!