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Employment Credit Checks

Regular Contributor

Employment Credit Checks

I hope this is the proper forum to ask this question....

 

I run a small consulting business on the side and contract with several companies. I have a potential contract with an investing firm and they want to run a financial/credit history. I'm told what they look for are BK's and seriously delinquent account ( I have none of these and an 808 FICO Smiley Happy). My question is, what type of credit hit should I look for? Is this a hard hit, soft hit, promotional hit? I don't mind a hard hit because the exposure and money from the contract would far outweigh a few (maybe 10) points off my FICO.  But I do treat my inquiries like gold.

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2 REPLIES
Moderator Emeritus

Re: Employment Credit Checks

Most investment firms will run your credit when you open an account and when they do it is most always a hard pull. The point hit from that is a YMMV-thing. Most of my inquiries resulted in no score change. I imagine with a 800+ FICO, you are relatively free of new accounts or inquiries. Likely there might be a small hit.

Message 2 of 3
Regular Contributor

Re: Employment Credit Checks

Thanks for the reply. I'm not opening an account. I'm bidding on a contract. But I hope, worst case scenario, the same applies.

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