Will Your Credit Score Affect Your Job Search
Did you know potential employers can request a copy of your credit report?
According to Inc. Magazine, about 60 percent of employers run credit checks on potential job applicants sometimes. This causes unnecessary stress for job seekers with poor credit scores.
The unemployment rate is still high. Job seekers should focus on finding a job, not credit scores. This eye-opener about credit scores and jobs could be concerning for people with low credit scores, particularly those searching for jobs that require money management. An employer—fearful that a poor credit score is a sign of irresponsibility—might not offer a job to a candidate with bad credit.
If you have a low credit score and are searching for a job, there’s still hope! Here are two rules which can offset your low credit score.
Rule #1: Take control. Highlight other areas of your life that demonstrate you are a responsible person. Give examples. Do you have financial responsibility in community or nonprofit organizations? Has a previous employer given you a glowing letter of recommendation for services which required a tremendous amount of trust, loyalty, and responsibility?
Rule #2: If you can demonstrate your trustworthiness, your credit score might be overlooked, particularly if you explain the events that caused your bad credit. Be candid about your credit report during the interview. Employers know the recession has negatively affected many people and may be sympathetic to your plight. Let your potential employer know you have learned much from the experience and are wiser because of your mistakes.
Be serious when repairing your credit. Take positive steps to increase your credit score. Your credit report will eventually reflect a shift in the positive direction. When walking into a job interview, be armed with the facts about your credit score. Tell how you have turned over a new leaf and what your credit report indicates about your current behavior. A potential employer might be sympathetic, especially if you have extenuating circumstances brought on by the recession.
Though credit checks for job applicants might create barriers in the already-tight job market, employers are also likely to value an honest account of your situation. When it comes to credit scores and jobs, be sure you are ready to be forthright about your past mistakes and able to offer evidence of your progress. In doing so, you allow employers to look past that three-digit number and offer you the job.
