How does starting a new job effect your credit ?

[Anonymous]

Not sure where to put this so into general we go!

So long story short, We were informed 2 weeks ago that our company was closing our plant next year sometime in the second half.... 12 years and pretty much the only job I have had.... is now gone. Now, I did what any normal person would do that has a family and is somewhat aggressive in dealing with life issues, I started submitting resumes.

Yes, I have indeed found a job in such short time. In fact had a few interviews, but the accepted job was what I wanted of course.
Now, here is the thing. I will be via a contract to hire. Its through and employment placement type deal. For those not sure what that is, companies outsource the HR BS to a service who then gets to thumb through all the apps and do the interviews.

Anyways, the contract is for 520 hours. Then after the employer has the ability to hire you on. Now, both the supervisor and the recruiter both assured me that unless I messed it up myself by not showing up or did a bad job, its almost a sure thing. This is the company slow time, so if they are looking for people while its slow, when it picks up in the late spring.... yeah you get it. Also, a co worker who worked there pretty much told me I am a shoe in.

Now for the real question. How does this affect my possibilities of gaining credit? Not only will I work for about 3 months for the service... but if I get hired on, it will technically be another job change.Does this limit your chances of not only getting a new line of credit, but also how does it do when it comes time for CLI?

[Anonymous]

I like to add that even starting via the service, my pay will be over a dollar more a hour, after training ( about 2 to 4 weeks ) I get bumped up another $2.50 a hour, and if hired on after contract I get a bump of another $3.
There is reasons why this place pays well, the hours stink ( working every weekend and holiday ).

[Anonymous]

They won't care as long as you continue to pay your bills on time, while doing everything you've already done to manage your credit. No need to volunteer information either.

[Anonymous]

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@Anonymous wrote:

They won't care as long as you continue to pay your bills on time, while doing everything you've already done to manage your credit. No need to volunteer information either.

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+1

[Anonymous]

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@Anonymous wrote:

They won't care as long as you continue to pay your bills on time, while doing everything you've already done to manage your credit. No need to volunteer information either.

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Well I did not plan on calling any one up and telling them LOL! I thought that was one of the things that they might check. I know on my CR it lists employers so that is why I was wondering.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

They won't care as long as you continue to pay your bills on time, while doing everything you've already done to manage your credit. No need to volunteer information either.

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Well I did not plan on calling any one up and telling them LOL! I thought that was one of the things that they might check. I know on my CR it lists employers so that is why I was wondering.

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I think that field is only there to show that you are actually employed. Be sure to update your income information though, in your credit profile.

Also, CCCs can use that data on your application to sue you in the case that you falsified your income if you become bankrupt. 

[2b2rich]

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@Anonymous wrote:

Now for the real question. How does this affect my possibilities of gaining credit? Not only will I work for about 3 months for the service... but if I get hired on, it will technically be another job change.Does this limit your chances of not only getting a new line of credit, but also how does it do when it comes time for CLI?

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Honestly,

about the only time I've really had to prove anything regarding my income, was when I bought a house, and that one's understandable.  My card applications have all taken my word for it that I have a job making x amount of money, and I have received very nice SL and CLI from both banks and store cards without them verifying any of it.  (of course it would be what I put down on the app if they ever did, though)

[Anonymous]

It won't effect you. It takes something like 5 years for the employer on my credit report to change.

[Anonymous]

It won't affect your credit scores and your credit report at all. However, some lenders (more often for loan/mortgage than credit cards) ask for length of time with your current employer and at current residence. They like to see some stability, maybe 2 years at the same job or so.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

They won't care as long as you continue to pay your bills on time, while doing everything you've already done to manage your credit. No need to volunteer information either.

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+1

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+10