Want a job? Hope you have a good credit

[OCGuy]

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.

Allowing other people to have access to accounts that use your social security # shows poor judgement.

 

[meltdown75]

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

0_0

i am truly sorry for their lots

 

[highland145]

not amongst conservative winners apparently:sneaky:

fixed, hopefully.

 

[Gillbot]

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.

sue your mom and get them removed

 

[SunnyD]

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

I think it's a terrible idea, especially in the current market. A lot of people are going into debt just to survive, and many are going to have hard times. Hence they have bad credit. If they have bad credit, then they can't get a job and fix their credit. So tell me... how does one break out of this cycle? Go for a min-wage job at Micky-D's? That doesn't fix anything, because that person will STILL have bad credit after serving their sentence there.

 

[PokerGuy]

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.

... that's true, except that 1) there could be things outside your control, 2) your ID could have been stolen and you can spend a year trying to clear everything up. In the meantime, you can't get a job, so you get in financial trouble which messes up your credit even more. Doesn't make sense does it?

Personally, I stand to gain from such policies because I have good credit, but I think your credit record much like your health history is private and should not be available as a hiring tool. How would you feel if companies started asking for your health records and all your health information (medical history) before hiring?

 

[highland145]

How would you feel if companies started asking for your health records and all your health information (medical history) before hiring?

Don't some do that already? Or penalize you for weight/smoking etc.

 

[FelixDeCat]

how is a good credit formed

They need do away with bad credit is no job. How can pay bills with no cash and no credit have? Our Kenyan president need do something bout this now. :twisted:

 

[highland145]

They need do away with bad credit is no job. How can pay bills with no cash and no credit have? Our Kenyan president need do something bout this now. :twisted:

Eagle1969 is that you?

 

[AstroManLuca]

They need do away with bad credit is no job. How can pay bills with no cash and no credit have? Our Kenyan president need do something bout this now. :twisted:

maybe he could get a few hundred million bucks from the Nigerian president, I heard he needed to get it sent to a US bank account and was offering a cut to anyone who could help

 

[jlee]

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.

I'm saying that I don't see it being 'instituted as a standard' -- less than half of them want a credit report, and half of that is a financial institution.

If it makes you feel better, I needed to give a lot more personal info than a credit report when I got hired....and that was years ago. This is nothing new.

 

[KIAman]

A credit check for a job application is very common. It is a good metric for risk mitigation and has historically and statistically proven its correlation to a good and responsible employee.

It's nothing personal, it's simple math and reducing potential risk.

 

[krunchykrome]

I think it's a terrible idea, especially in the current market. A lot of people are going into debt just to survive, and many are going to have hard times. Hence they have bad credit. If they have bad credit, then they can't get a job and fix their credit. So tell me... how does one break out of this cycle? Go for a min-wage job at Micky-D's? That doesn't fix anything, because that person will STILL have bad credit after serving their sentence there.

I don't want to turn this into a P&N flame war, but we both have different opinions here.

I believe in personal accountability. Many people have lost their homes. I truly believe that there are some people who have lost their homes, etc due to circumstances beyond their control. But I believe a greater number have lost their homes and gotten into financial trouble for making poor financial decisions (buying more house than they could afford, living beyond their means, etc).

Another thing...why is it a company's responsibility to help someone get out of debt?

People need to be aware of the decisions they make, and they need to put some thought into the future consequences that their actions might have. In some ways, this recession was a much-needed eye opener for a lot of people.

 

[rudder]

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

No protection... just a different set of charges. Prior to the new law... I cold get a zero percent credit card with a low rate to follow after 6 months to a year. Now CC companies are only offering initial higher rates.

If you paid your bill on time... you interest would not get jacked up. CC companies started jacking up rates... but unless you were irresponsible and had a huge balance you could take your business elsewhere.

 

[FelixDeCat]

A credit check for a job application is very common. It is a good metric for risk mitigation and has historically and statistically proven its correlation to a good and responsible employee.

It's nothing personal, it's simple math and reducing potential risk.

That is extreme and utter bullchip. You can work at a company for 20 years and have terrible credit if your wife stuck you the bills after a divorce, you lost all your money in the stock market or in Vegas, or you simply borrowed more than you figured you could pay back.

Bad bills are a two way street that starts with irresponsible lending!

 

[krunchykrome]

... that's true, except that 1) there could be things outside your control, 2) your ID could have been stolen and you can spend a year trying to clear everything up. In the meantime, you can't get a job, so you get in financial trouble which messes up your credit even more. Doesn't make sense does it?

Personally, I stand to gain from such policies because I have good credit, but I think your credit record much like your health history is private and should not be available as a hiring tool. How would you feel if companies started asking for your health records and all your health information (medical history) before hiring?

Companies already are asking health related questions (my current job did - I even had to take a physical). BTW, I'm in the financial arena. A person's health is something to consider when hiring someone. A sick/un-well person costs a company money. That's not politically correct, but it's true.

 

[HardcoreRobot]

its a good indicator of responsibility and common sense. smart recruiting.

 

[highland145]

Bad bills are a two way street that starts with irresponsible lending!

You can bet your ass that I have never made a loan where the ability and willingness to repay was not evident at the start. I'm not saying it doesn't happen. I am saying it's STUPID business if the lender does.

 

[KIAman]

That is extreme and utter bullchip. You can work at a company for 20 years and have terrible credit if your wife stuck you the bills after a divorce, you lost all your money in the stock market or in Vegas, or you simply borrowed more than you figured you could pay back.

Bad bills are a two way street that starts with irresponsible lending!

Like I said, it is simple statistical risk mitigation, nothing personal. They aren't trying to determine if you are a good or bad person.

What you are talking about is the exception and businesses in general do NOT cater (or cannot afford to) to exceptions, else they would not be a profitable and functional business.

 

[slag]

Gives a glimpse of personal responsibility.

Negatory. Gives a snapshot in time of the state of your personal finances which can be influenced by a number of factors such as being out of work for the past 3 years and having to decide whether you pay credit card bills or put food on the table for your wife and kids, whether to declare bankruptcy or work with creditors to try to make monthly payments. Divorces where finances are jointly owned but the other person decides to stop paying can influence your credit as well.

There are a number of external factors that can directly influence your credit that you have little control over. Using credit checks for anything other to to check your credit score to purchase something is just WRONG imho.

 

[highland145]

Negatory. Gives a snapshot in time of the state of your personal finances which can be influenced by a number of factors such as being out of work for the past 3 years and having to decide whether you pay credit card bills or put food on the table for your wife and kids, whether to declare bankruptcy or work with creditors to try to make monthly payments. Divorces where finances are jointly owned but the other person decides to stop paying can influence your credit as well.

There are a number of external factors that can directly influence your credit that you have little control over. Using credit checks for anything other to to check your credit score to purchase something is just WRONG imho.

Missed my other posts?

 

[AstroManLuca]

Negatory. Gives a snapshot in time of the state of your personal finances which can be influenced by a number of factors such as being out of work for the past 3 years and having to decide whether you pay credit card bills or put food on the table for your wife and kids, whether to declare bankruptcy or work with creditors to try to make monthly payments. Divorces where finances are jointly owned but the other person decides to stop paying can influence your credit as well.

There are a number of external factors that can directly influence your credit that you have little control over. Using credit checks for anything other to to check your credit score to purchase something is just WRONG imho.

Especially given that having too many credit checks can itself reduce your credit score.

It could take many interviews to find a job these days; if every employer ran a credit check for every prospective employee, they'd be significantly hurting their credit scores.

 

[wheresmybacon]

Personally, I stand to gain from such policies because I have good credit, but I think your credit record much like your health history is private and should not be available as a hiring tool. How would you feel if companies started asking for your health records and all your health information (medical history) before hiring?

Ding ding ding ding! Exactly. Where is the line drawn? Fitness tests? Polygraph? Health records?

I understand it's usefulness in the context of recruiting, I just don't think it's right. That's my business, not theirs, and I cringe when I think where this could go in ten or twenty years.

 

[KIAman]

Especially given that having too many credit checks can itself reduce your credit score.

It could take many interviews to find a job these days; if every employer ran a credit check for every prospective employee, they'd be significantly hurting their credit scores.

Nope, each check comes with the standard "what is the check for?" attribute and all are lumped together for a long period of time as equivalent to a single check and will not hurt your score.

What you can do is shop for home loan, car loan, get new cell phone, open up 4 credit cards and then you will be hurting.

 

[slag]

Missed my other posts?

Didn't miss them, just hadn't gotten to them. I got to your post I quoted and posted a reply. Thats how it works. If you had changed your mind or wanted to clarify something, you would have edited your original post.