What potential employers look at when doing a credit check on you
Prospective employers may choose to look at your credit report for various reasons.
Photo by Alan Cleaver via Flickr
Have you ever interviewed for a job and were told that a credit check would be done on you? Did you wonder why as the company would be paying you instead of you trying to borrow money from them? If so, here are some reasons why a prospective employer may want to look at your credit report and what they may examine.
If you are being employed at a bank, casino, as a financial adviser, or a chief financial officer, you may constantly be handling money. Therefore, your potential employer will want to know a little about your past with finances.
What employers may look for:
In order to get a clue, they will look at your credit report. On that note, here are some things they will view to make an early judgment on how you may handle money:
1) Your accounts
The accounts on your credit report will say a lot about your responsibility. Your potential employer will be able to see if you make your payments on time, and if any are late, how late they are. They
will also be able to see if any of your accounts have been paid in full, closed, charged off, or sent to collections.
2) Inquiries for new credit
All of the times when you tried to get new credit will be visible on your credit report. If you have many in a short period of time, you may appear to be very risky or money hungry to the employer.
3) Public records
If you have filed bankruptcy, had a home foreclosed on, or have tax liens against you, they will show on your credit report. This may bring up suspicion and cause the employer to question your reliability with money.
The places you have called home when receiving credit will be on your credit report. If you have constantly moved over the years, the employer may question your stability.
Your accounts Photo by Andres Rueda via Flickr
Potential employers will take a look at the accounts on your credit report to get an idea of how you have handled money. They will look at your payment history and account statuses to determine if you have been responsible.
Inquiries on your report Photo via omgtoptens.comSource: www.examiner.com