Credit Scores and Getting a Job

Getting a job in today’s economy is hard enough as it is. There’s very few openings, hundreds of applicants applying for the same position, and the job may not even what you dreamt of doing high school or college graduation. We’ve talked about lots of different ways your bad credit might be holding you back. “But, wait there’s more…”

That 3-digit number, your credit score, is not part of your next job interview…but your credit history may be. Let’s sort the myths from the facts, so you know what you’re up against.

  • Yes, your potential employer needs your permission to pull your credit report.
  • No, it doesn’t count as a hard inquiry, so it doesn’t affect your credit score.
  • No, the report doesn’t show every personal detail like your own copy does.

What does an employer see on your credit report?

  • Open accounts
  • Current/Non-current payments
  • Public records (bankruptcies and liens)

If the report shows that you are late on payments or missing them altogether, that information can negatively affect you. If you have a bankruptcy or lien, that’s not positive either. Even having too many accounts open might create worry. Be prepared to explain yourself. If the company won’t hire you based on your credit history, they must give you a copy of the credit report used to make that decision.

What’s worse is that credit checks may continue after you’re employed. Just like criminal background checks, credit checks are done at regular intervals. Can you imagine being fired because you started having financial troubles post hire?

Part of being ready for a job interview is reviewing your credit report ahead of time. More than half of America’s employers are pulling credit reports during the hiring process.

It’s a Catch-22—you need the job to take care of money problems, but you may not get the job if you’re having money problems. What’s the solution?

Get credit counseling if your accounts are out of control.

Get your credit report. Review it carefully for errors. Dispute errors so they can be corrected to improve your credit history.

The last thing we want is for your bad credit to cost you the job of your dreams (or any job for that matter). Call Honore’ Credit Consultants today so we can discuss options for helping to improve your credit profile! (844) 967-3724

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