Why Your Boss Wants To Know Your Credit Score

When you are preparing yourself for the interview you landed recently, you may not be thinking too much about what your credit looks like at this time. However your prospective boss is likely to review this aspect of your life too. In a 2010 study by the Society of Human Resource Management, nearly 60% of employers checked some or all of job applicants’ credit reports. So the question remains: What does your boss want to know about your credit and why?

Why Credit Can Cost You Your Prospective Job

Why Your Boss Wants To Know Your Credit Score

While the Equal Employment Act helped to drop the number of employers that utilize your credit report as part of the interview process, there are still those that will and do use it. Many who suffer from poor or bad credit may consider a future employer checking on their credit as an unfair practice. After all, reports often have errors and there are usually other circumstances that surround the reason why your credit is damaged. But the fact of the matter is that it still happens and this is why:

  • Often, an employer may feel they can judge your responsibility by your credit. If your credit report shows that you make steady, on-time payments, then you are more likely to be prompt with your business at work too. However, if you have bad credit, an employer may feel as though you won’t put your best effort into the job you’re applying for.
  • Other times, employers may be concerned that your financial situation could be a possible distraction. Constant calls from demanding creditors and banks could also cause a negative influence to your work performance and others that work around you.
  • A few bosses may even feel that you may not be willing or able to keep your job and keep up with your tasks if you are weighed down by too many financial responsibilities.

As We See It

Here at Auto Credit Express, we know from experience that sometimes bad credit cannot be helped. It’s an unfortunate part of life in the current economic state. However, it shouldn’t be held against you when you’re trying to better your life. Just as some bosses may hold your credit against you, others may as well, such as a car dealership. When you need something to improve your life, turn to those that you know will help you – like our team of dependable representatives and our nationwide network of quality dealers and lenders. Get your foot in the door today by completing our trouble-free online application and you’ll soon be on your way to not only getting a reliable vehicle, but also rebuilding your credit status and opening many doors to your future.

Posted on March 19, 2014 by in Auto Loans
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