While credit checks are not the norm in the job application process, the practice is common for jobs where candidates will be privy to sensitive information or making financial decisions.
States and local jurisdictions are increasingly regulating the use of credit reports in hiring. Eleven states limit employers’ use of credit reports, and other states are considering similar legislation.
When an employer checks your credit they are reviewing your credit report, not your score. What are they looking for? In most cases they want to see evidence that you are honest and responsible- this is not always the best indicator of either.
It is important to remember that the employer needs to ask your permission and receive written consent, before running a credit check. If your poor credit disqualifies you, the employer is required to let you know and give you a chance to respond.
Regardless of where you stand, it is a good idea to take a look at your credit report before you start a job search. Check for inaccuracies and take steps to correct them. Remember, there are three different credit bureaus—Equifax, Experian and TransUnion. You can access your FREE credit report at AnnualCreditReport.com.
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