Credit check for jobs?

[lokiju]

So many jobs that I've either applied to or interviewed for required a credit check recently.

Why in the hell would my credit matter?

I realize that most of you are going to say because it shows your ability to handle finances but that's not always the case, such is the case with myself.

I was in a accident last December and as a result was out of work for about 6 months from a back injury with half and then ZERO income, I had to scrape by as I could but of course it's difficult to keep everything current when you go from have $50,000 salary to $0 all at once.

Again I ask WTF should my credit be a deciding factor on my chances with a company that has nothing to do with finances or credit?

/rant

 

[dullard]

Originally posted by: lokiju
Again I ask WTF should my credit be a deciding factor on my chances with a company that has nothing to do with finances or credit?

Because that generalization works for 95% of the cases. For the remaining 5%, there is already an answer in place. The reason for job interviews is to address those rare exceptions such as in your case (no number can 100% predict someone's abilities).

 

[Bateluer]

I may be mistaken, but isn't a credit check also some sort of background check?

 

[mzkhadir]

Originally posted by: Bateluer
I may be mistaken, but isn't a credit check also some sort of background check?

yes.

 

[Queasy]

Originally posted by: Bateluer
I may be mistaken, but isn't a credit check also some sort of background check?

Yep. Every job is different. If your position will give you access to financial or credit information more than likely they will require a credit check. I had to have one when I went to work for Equifax.

 

[jlbenedict]

I think the theory is, someone with credit / financial issues would be more prone to acts of espionage, etc.. This is the way the NSA appears to view it...

Someone in need of $$ , might sell insider information, or intellectial company info, especially if the price is right.

 

[mcvickj]

Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

 

[lokiju]

Originally posted by: jlbenedict
I think the theory is, someone with credit / financial issues would be more prone to acts of espionage, etc.. This is the way the NSA appears to view it...

Someone in need of $$ , might sell insider information, or intellectial company info, especially if the price is right.

Well I hope that they at least ask and take into consideration why my credit is so fvcked at this point instead of just passing because of it.

 

[jlbenedict]

You are even judged on insurance premiums, based on your credit reports these days.

 

[mugs]

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

 

[Queasy]

Originally posted by: lokiju

Originally posted by: jlbenedict
I think the theory is, someone with credit / financial issues would be more prone to acts of espionage, etc.. This is the way the NSA appears to view it...

Someone in need of $$ , might sell insider information, or intellectial company info, especially if the price is right.

Well I hope that they at least ask and take into consideration why my credit is so fvcked at this point instead of just passing because of it.

I wouldn't wait for them to ask. I would explain it to them upfront.

 

[Garet Jax]

Originally posted by: mugs
It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

If they give him a chance.

OP should be proactive when they indicate interest to perform a credit check. Otherwise, he may not get the chance.

 

[waggy]

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

 

[lokiju]

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

I'm 26 now, prior to the accident I was 25 and had a 740 score, now I'm sub 500

I have debts in collections and there isn't anything I can do about it either.

I need a job to make the income to pay the debts to get out of collections but with all the jobs I've been interviewing for checking my credit, I don't know if I stand a chance.

Like they're kicking me when I'm down.

 

[dullard]

Originally posted by: lokiju
I need a job to make the income to pay the debts to get out of collections but with all the jobs I've been interviewing for checking my credit, I don't know if I stand a chance.

Like they're kicking me when I'm down.

You need a good cover letter with your application then. And/or get an insider to pull you in.

 

[jlbenedict]

Originally posted by: lokiju

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

I'm 26 now, prior to the accident I was 25 and had a 740 score, now I'm sub 500

I have debts in collections and there isn't anything I can do about it either.

I need a job to make the income to pay the debts to get out of collections but with all the jobs I've been interviewing for checking my credit, I don't know if I stand a chance.

Like they're kicking me when I'm down.

Your situation is almost similiar to mine. I previously lost a job back in 2002. I was out of work for 13 months. I finally bit the bullet and took a job driving 75 miles , one way. Hey.. it was work..

Prior to losing my job I had scores in the 720's.... After, I was down to about 420 at the low point. All my good credit accounts went to collections.. after they charged off, of course..
I'm slowly creeping back up.. hovering around 560'ish right now..

You will be in for a battle..

 

[ScottMac]

If you had a dialog with your creditors while you were recovering from your injuries, they frequently cut you some slack (significantly reduced payments & such).

If you just avoided them, they have no way to know that you were living under exceptional circumstances and just assume you're a dodging slacker ... and that's the way they report it.

Good Luck

Scott

 

[acemcmac]

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

I love how everybody seems to be talking about me

<<< 20, homeowner, 745 I think?

 

[mugs]

Originally posted by: acemcmac

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

I love how everybody seems to be talking about me

<<< 20, homeowner, 745 I think?

I wasn't talking about you.

 

[JEDI]

Originally posted by: jlbenedict
You are even judged on insurance premiums, based on your credit reports these days.

yup.. the lower your credit score, the higher your insurance premiumns

 

[JS80]

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

i'm 24 and have 740. i also have enough money in the bank so that if i were to be out of a job and go from near 6 figures to zero, i can survive 1 year. it's unfortunate people take shvt for granted, not get insurance (yes i have disability insurance that costs like $2/mo), buy a new car, go on shopping sprees, etc.

but to directly answer OP, the theory is (and is true) that the lower your credit score, the higher the probability you will steal/cause trouble/be unethical. MOST people that have low scores do not get there because of some unfortunate accident like yourself.

As someone mentioned before, a simple explanation in a cover letter or during the interview should quell this issue.

 

[funboy6942]

Alot of hits on your credit isnt that good especially in a short period of time. Plus all these "potential" employers can get a glimps of who you been appying for jobs to as well.

 

[spidey07]

op - might want to look into short-term/long-term insurance. Many employers offer it or you can get it on your own ranging from 66% to 100%. It's well worth it.

 

[thomsbrain]

they check it to see if you're RESPONSIBLE. if you can't be trusted to do something as simple as pay your own bills and keep track of your own money, how can they trust you with the resonsibilities they plan to place on you? granted, this isn't flawless logic, but that's the thinking.

 

[jrphoenix]

Originally posted by: JS80

Originally posted by: waggy

Originally posted by: mugs

Originally posted by: mcvickj
Far to many people rely on credit checks to determine the value of somone. The whole system needs to be nuked and start from scratch.

It's also incredibly easy to get a high credit score, as evidenced by all of the 20 year olds claiming 720+ scores.

The OP's unique situation could be explained to HR, and I'm sure they wouldn't hold it against him.

heh yes good credit is easy. but 720+ and young? heh

i'm 24 and have 740. i also have enough money in the bank so that if i were to be out of a job and go from near 6 figures to zero, i can survive 1 year. it's unfortunate people take shvt for granted, not get insurance (yes i have disability insurance that costs like $2/mo), buy a new car, go on shopping sprees, etc.

but to directly answer OP, the theory is (and is true) that the lower your credit score, the higher the probability you will steal/cause trouble/be unethical. MOST people that have low scores do not get there because of some unfortunate accident like yourself.

As someone mentioned before, a simple explanation in a cover letter or during the interview should quell this issue.

Good point... It is amazing how many people have great credit, decent income.... yet focus their lives more on wants than needs. Some key needs are life insurance, a disabililty income policy, etc... You are 3 times as likely to become disabled before age 65 than pass away. Most people buy the life (that is critical) but, overlook the disability income. For those of you in Florida interested, PM me and I'll give you a quote