Why do companies check your credit rating for hiring?

[GoingUp]

Just curious. I have an onsite interview on Monday and I have to sign a form that says they can check my background and my credit rating. Why do companies care about your credit rating? Will them checking your credit rating cause it to go down? I know I have excellent credit... I should be somewhere in the high 700s, low 800s.

(looks in Rossman's general direction)

 

[Aves]

People with bad credit can be a risk. They've shown that they can be irresponsible and if it's bad enough they could even be prone to steal, embezzle, etc.

 

[jadinolf]

I would think that your credit rating would reflect your character.

 

[The Stigenator]

just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

 

[DAGTA]

Originally posted by: TheGoodGuy
just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

There are definitely exceptions, but IN GENERAL it seems like credit rating is a fairly good indicator of a person's sense of responsibility.

 

[RagingBITCH]

Repost

It was discussed in depth in that thread 😛

 

[RossMAN]

Originally posted by: DAGTA

Originally posted by: TheGoodGuy
just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

There are definitely exceptions, but IN GENERAL it seems like credit rating is a fairly good indicator of a person's sense of responsibility.

Agreed, same reason car insurance companies do this.

I authorized my auto insurance company to check my credit. My credit isn't spectacular (634 or so credit score, everything max'd out) but I've had credit for 12 years and have no late payments. So they lowered my rates by about 10% because of my "satisfactory credit". I was happy 🙂

 

[yllus]

Will them checking your credit rating cause it to go down?

Negative. This is a soft credit check that will not affect your score.

 

[Zugzwang152]

Originally posted by: RossMAN

Originally posted by: DAGTA

Originally posted by: TheGoodGuy
just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

There are definitely exceptions, but IN GENERAL it seems like credit rating is a fairly good indicator of a person's sense of responsibility.

Agreed, same reason car insurance companies do this.

I authorized my auto insurance company to check my credit. My credit isn't spectacular (634 or so credit score, everything max'd out) but I've had credit for 12 years and have no late payments. So they lowered my rates by about 10% because of my "satisfactory credit". I was happy 🙂

wth, you got them to lower your rate by 10% when they could see you have all your cards maxed?

 

[Zenmervolt]

Even if it were a full credit check, it only affects your rating for a month or so, not permanently.

ZV

 

[Kibbo]

Some places, like banks and courier companies, need to do it for liability reasons.

 

[RossMAN]

Originally posted by: Zugzwang152

Originally posted by: RossMAN

Originally posted by: DAGTA

Originally posted by: TheGoodGuy
just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

There are definitely exceptions, but IN GENERAL it seems like credit rating is a fairly good indicator of a person's sense of responsibility.

Agreed, same reason car insurance companies do this.

I authorized my auto insurance company to check my credit. My credit isn't spectacular (634 or so credit score, everything max'd out) but I've had credit for 12 years and have no late payments. So they lowered my rates by about 10% because of my "satisfactory credit". I was happy 🙂

wth, you got them to lower your rate by 10% when they could see you have all your cards maxed?

Shh that's just between you, me and the other 5k AT'ers lurking 😉

 

[Freejack2]

Enh, nevermind.

 

[Anonemous]

Originally posted by: RossMAN

Originally posted by: Zugzwang152

Originally posted by: RossMAN

Originally posted by: DAGTA

Originally posted by: TheGoodGuy
just because someone is down on his luck, got laid off and had to off set payments by his credit card and thus tanking his credit rating, doesnt mean he is a bad employee to be.

There are definitely exceptions, but IN GENERAL it seems like credit rating is a fairly good indicator of a person's sense of responsibility.

Agreed, same reason car insurance companies do this.

I authorized my auto insurance company to check my credit. My credit isn't spectacular (634 or so credit score, everything max'd out) but I've had credit for 12 years and have no late payments. So they lowered my rates by about 10% because of my "satisfactory credit". I was happy 🙂

wth, you got them to lower your rate by 10% when they could see you have all your cards maxed?

Shh that's just between you, me and the other 5k AT'ers lurking 😉

hmmmm, must jump on more dell deals... to the MAX ... EXTREME!