Want a job? Hope you have a good credit

[wheresmybacon]

Is this the new thing? Wife and I are moving, and I've held the same job for the last 10 years, so I haven't been job hunting for some time. Two of the five jobs I've applied for have required credit checks. One I can understand because it's a credit union, the other was just a random tech firm.

People who're job hunting, is this credit check thing a new trend? Or have I just ran into a couple one-off companies...

 

[highland145]

Credit checks in my industry is fairly standard for new employees. Not to mention car insurance rates in S.C. are tied to your score.

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[SunnyD]

It's common, generally part of a background check.

Even a tech firm it makes sense, because if you're a financial risk, you may be walking off with hardware and flipping it on ebay at the end of the day.

 

[wheresmybacon]

Credit checks in my industry is fairly standard.

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your industry being...

 

[Golgatha]

Yes, unfortunately it is very standard nowadays.

 

[OCGuy]

Most arent looking to see if you have maxed out credit cards....they are looking for fraud, or extended periods of irresponsibilty.

 

[highland145]

your industry being...

Legalized loan shark.

 

[highland145]

Yes, unfortunately it is very standard nowadays.

Gives a glimpse of personal responsibility.

 

[JeffreyLebowski]

Gives a glimpse of personal responsibility.

So, now that we are in economic down turn and people have been out of work for a long time, and they've had to max out CC's, some with forclosures, and reposessions due to no jobs, and now they try to get a job but will be denied one because their credit sucks because they lost their job? Talk about a vicious cycle.

With all the hooting and hollering the current admin has done and said they're here to help the little guy, all it seems they do is punish the big companies, and not do dick for the little guy.

 

[darkxshade]

Sort of a catch 22 for those in the gutter and trying to get out but can't because they need a job. :hmm:

 

[SP33Demon]

So, now that we are in economic down turn and people have been out of work for a long time, and they've had to max out CC's, some with forclosures, and reposessions due to no jobs, and now they try to get a job but will be denied one because their credit sucks because they lost their job? Talk about a vicious cycle.

With all the hooting and hollering the current admin has done and said they're here to help the little guy, all it seems they do is punish the big companies, and not do dick for the little guy.

Maybe you missed the new credit card regulations that are going to protect the "little guy" much more than the last administration.

http://www.cnn.com/2010/US/08/22/credit.card.rules/index.html

 

[highland145]

So, now that we are in economic down turn and people have been out of work for a long time, and they've had to max out CC's, some with forclosures, and reposessions due to no jobs, and now they try to get a job but will be denied one because their credit sucks because they lost their job? Talk about a vicious cycle.

With all the hooting and hollering the current admin has done and said they're here to help the little guy, all it seems they do is punish the big companies, and not do dick for the little guy.

Sort of a catch 22 for those in the gutter and trying to get out but can't because they need a job. :hmm:

My guess would be that big companies will not take the time to find out extenuating circumstances. I always ask about a poor score. Unemployment/health issues causing a poor score get a pass. Divorce doesn't.

 

[AstroManLuca]

So, now that we are in economic down turn and people have been out of work for a long time, and they've had to max out CC's, some with forclosures, and reposessions due to no jobs, and now they try to get a job but will be denied one because their credit sucks because they lost their job? Talk about a vicious cycle.

With all the hooting and hollering the current admin has done and said they're here to help the little guy, all it seems they do is punish the big companies, and not do dick for the little guy.

I agree about the vicious cycle thing but wow I love how you find a way to blame the Obama administration for literally everything.

 

[highland145]

I agree about the vicious cycle thing but wow I love how you find a way to blame the Obama administration for literally everything.

Is there a problem with that?:sneaky:

 

[geno]

It's common, generally part of a background check.

Even a tech firm it makes sense, because if you're a financial risk, you may be walking off with hardware and flipping it on ebay at the end of the day.

Which is funny because financially irresponsible != thief.

 

[wheresmybacon]

So, now that we are in economic down turn and people have been out of work for a long time, and they've had to max out CC's, some with forclosures, and reposessions due to no jobs, and now they try to get a job but will be denied one because their credit sucks because they lost their job? Talk about a vicious cycle.

With all the hooting and hollering the current admin has done and said they're here to help the little guy, all it seems they do is punish the big companies, and not do dick for the little guy.

I don't really want to get into your second point here, but I agree that of all economic climates in which to base someone's employability on credit, I think it's silly to choose this one as a good time to institute a new standard.

 

[AstroManLuca]

Is there a problem with that?:sneaky:

not amongst conservative whiners apparently:sneaky:

 

[jlee]

I don't really want to get into your second point here, but I agree that of all economic climates in which to base someone's employability on credit, I think it's silly to choose this one as a good time to institute a new standard.

You have two out of five requiring credit checks, one being a financial institution, and you're crying about a new standard...?

 

[SunnyD]

Which is funny because financially irresponsible != thief.

Which is funny because theft is a greater risk than financial irresponsibility, especially due to ease of access.

DoD security clearance involves an extensive credit history profile. Why? To determine whether or not you will be susceptible to financial coercion by foreign interests.

If you're financially irresponsible, you're a potential thief. The more you're in debt, the more incentive you have to steal in order to get out of debt. Collections, late payments, etc., are basically ignored by employers. Judgements, bankruptcies, garnishment, etc. will likely earn your application a trip to the circular file.

 

[krunchykrome]

I think it's a good idea, and I hope it sticks.

It does several things:
1) It shows whether or not you are financially disciplined. A peek into a persons finances is peek into their character.
2) A person with horrible finances, debt, etc is more likely to commit financial fraud.
3) A person with financial problems is more likely to have baggage.

 

[meltdown75]

how is a good credit formed

 

[SunnyD]

how is a good credit formed

it needs to be instained

 

[SaDiZTiKStyLeZ]

My mom has left several bills on me that I shouldn't have had in the first place. So not only has she fucked my credit, but also my career search?
I've always stayed on top of my own bills.

 

[wheresmybacon]

You have two out of five requiring credit checks, one being a financial institution, and you're crying about a new standard...?

Who's crying? I said I think it's a bad time to institute such a standard. There are a lot of folks who've been victims of circumstance, not personally irresponsible, and to deny them employment because they've lost a home or have taken a hit in some other way due to the economic climate of the last few years is a disservice to everyone.

 

[krunchykrome]

how is a good credit formed

paying bills on time, maintaining healthy relationships with lenders.....