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Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
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Employers checking credit history

http://www.washingtontimes.com/news/2010/mar/02/employers-checking-credit-history/

 

It’s hard enough to find a job in this economy, and now some people are facing another hurdle: Potential employers are holding their credit histories against them.

Sixty percent of employers recently surveyed by the Society for Human Resources Management said they run credit checks on at least some job applicants, compared with 42 percent in a somewhat similar survey in 2006.

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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012
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Re: Employers checking credit history

Can't read the article, but I'll give my input.

 

If you're going to be a financial advisor or something like that... then yes.

If you're going to be flipping burgers at MickeyD's... then, no.

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boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Employers checking credit history


FrugalRican wrote:

Can't read the article, but I'll give my input.

 

If you're going to be a financial advisor or something like that... then yes.

If you're going to be flipping burgers at MickeyD's... then, no.


I tend to agree.  But a lot of companies look at it at a completely different angle.  They don't look at your credit history just to see how you handle money.  They also look at it from a moral/ethical angle.  They think that if your credit is bad you are more likely to steal or do other immoral/un-ethical things.  No it doesn't make sense and I don't agree with it but it does happen. 

 

If you are going to be dealing with money then sure, requiring solid credit is understandable.(looking for good credit from someone applying for a $8/hour cashier job is a bit ambitous though.)  Otherwise it shouldn't make a difference. 

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JenniferinFL
Posts: 408
Registered: ‎03-16-2012
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Re: Employers checking credit history

Our local Walmart credit checks, so do a lot of other local retail establishments. I haven't been able to get a job even at a grocery store as a cashier since I filed for bankruptcy back in 2009. Though, I've heard it's not as prevalent in other areas of the country.

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Roarmeister
Posts: 334
Registered: ‎04-21-2012
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Re: Employers checking credit history

My employer does background checks on everyone, new employees and existing employees.  The theory is that anyone who is responsible for company funds needs to be checked out.  I don't think they do a detailed version though because because it only takes a couple of days to search.  Just the basics -- have you a criminal record, especially for things involving money.  I never really thought much about it since my record is clean but if someone has a spotty past -- I always wondered if they are refused employment?

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mfoxxx
Posts: 53
Registered: ‎01-01-2012
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Re: Employers checking credit history

[ Edited ]
This occurs depending on were you live. In addition, the type of position you will hold at said organization. Typical background covers: criminal, educational verification, prior and current employment verification and depending on the role, pre-employment drug testing. Typically, again depending on your state, credit checks are part of the process if the position is tied to finance or access to financial records, etc. Also, government security clearances require credit and deeper background checks.
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DaveSignal
Posts: 2,111
Registered: ‎07-29-2011
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Re: Employers checking credit history

[ Edited ]

Thats the whole reason I started with the FICO rebuilding I am doing.  I can't keep my current job with a low credit credit score.... especially if I owe money, because then I will be profiled as someone who can be bribed with money.  The places that I work are very protective of their secrets.

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JenniferinFL
Posts: 408
Registered: ‎03-16-2012
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Re: Employers checking credit history


DaveSignal wrote:

Thats the whole reason I started with the FICO rebuilding I am doing.  I can't keep my current job with a low credit credit score.... especially if I owe money, because then I will be profiled as someone who can be bribed with money.  The places that I work are very protective of their secrets.


I went back to school, so figured it was a good time to fix my credit so that hopefully I'm finally employable when I graduate.. :smileyfrustrated:

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jetsfan2012
Posts: 208
Registered: ‎05-28-2012
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Re: Employers checking credit history

Not surprised by this, but unless you are your own boss, you have to play the rules of the company writing the checks.

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