Potential Employer Credit Check

[Anonymous]

I think credit checks should be legal only if a consumer is applying for CREDIT. Not employment.

[valley_man0505]

I was turned down for an engineering position because of my credit score after getting my Masters degree in chem. eng.  They said they had a minimum score requirement for all employees because, apparently, there are studies that support the theory that people with "lower credit scores are typically less reliable" and that "credit scores are an indicator of character".  This was actually very common around the time I was looking for full time employment about 4 years ago.  My credit was ruined because of an error someone else made (long story).  Apparently, my credit score is a much more reliable indicator of how I would do the job than silly things like my 7 years of college and graduating with honors with a BS and MS degree and my excellent interview.  They even admitted that they would have hired me if my credit score would have been better.

I have always wondered how this isn't discrimination.  Ok, if you are going to be working for someplace where you will be handling finances or directly handling money, then I can see your credit as a necessary tool for judging a potential employee, but, outside of that...it just seem like plain ole discrimination.

[Anonymous]

Yes It's crazy how it works especially when you made a couple of boo boos when you were younger. I am in the same situation. I made some pretty foolish choices with my cc when I was in college. Now 5 years later I am still paying for it, I have paid off most of my cc but am impatiently waiting for my score to increase. GOOD LUCK with the new job!!! My uncle is a firefighter and he says that it shouldn't be a problem as long as you are not writing bad checks or doing anything illegal.

[Anonymous]

"Has anyone ever been rejected from a job offer because of a low credit score?"

I would say that it is very unlikely, however, if you do have loans or other obligations that are not being taken care of (and by this I mean at least some form of payment plan to show you are trying) they may dismiss you from consideration. Collection agencies can provide you with a letter explaining that you have negotiated the terms of payment, therefore, showing responsibility and integrity. Good luck on the new job!

[Anonymous]

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@valley_man0505 wrote:

I was turned down for an engineering position because of my credit score after getting my Masters degree in chem. eng.  They said they had a minimum score requirement for all employees because, apparently, there are studies that support the theory that people with "lower credit scores are typically less reliable" and that "credit scores are an indicator of character".  This was actually very common around the time I was looking for full time employment about 4 years ago.  My credit was ruined because of an error someone else made (long story).  Apparently, my credit score is a much more reliable indicator of how I would do the job than silly things like my 7 years of college and graduating with honors with a BS and MS degree and my excellent interview.  They even admitted that they would have hired me if my credit score would have been better.

I have always wondered how this isn't discrimination.  Ok, if you are going to be working for someplace where you will be handling finances or directly handling money, then I can see your credit as a necessary tool for judging a potential employee, but, outside of that...it just seem like plain ole discrimination.

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It IS discrimination - but this type of discrimination isn't illegal. There are certain classes that are protected by law (i.e. minorities, veterans, pregnant women, people with disabilities, etc.) but 'people with bad credit' is not a protected class.  Unfortunately, there is nothing to stop employers from using this as a factor for employment decisions. 

[Anonymous]

When offered my current job, I was told I'd have to pass a drug test, criminal background check, and financial records check.

I knew where I stood on the criminal background check, and wasn't sweating the drug test, but I told 'em "I have a morbid distrust of financial institutions, so you'll have to run the financial records check before I'm willing to accept the offer."

They said it was just a check to make sure I hadn't declared bankruptcy, which would put them in violation of contracts with some of their customers, and I said, "Not a problem. Let's just handle it so I can accept the offer."

As it happens, I now handle confidential records for the financial institutions I said I'd morbidly distrusted. heh

[Anonymous]

Yeah... if you want a job a McD's they aren't going to check your credit report but they only pay $5 an hour.

I understand the need for credit checks for employment in some situations, I even explained why they were neccessary and under what circumstances they would use it to determine eligibility

 But now I will give my opinion

Its just another way that the government (and by govt I mean a certain political party that I won't mention as to not violate TOS)... anyway a way for the Govt to keep the poor poor and keep the rich in control.