Credit report vs back ground check
My question is, what and why is a credit report have to do with employment. How do ppl expect to fix their credit if only through employment determaines you getting a job. And i can see if your background check matches the job but not all background fit the job descrption. I feel ppl should all have a chance at employment, we all make mistakes. But i really need toknow about this credit report i feel its BS! And just anothe plot to keep certain ppl from moving up in life!
Not every job will pull your credit, and if they do, it is usually just lumped together with the background check package so they have to include it in their authorization verbiage.
However, there are some jobs such as working in insurance, with banks, or credit reporting agencies that require you to have a credit score above "poor". For example, if you work as a financial adviser, you are expected to give financial advice. If you have a poor "FICO", that doesn't make you a good fit for the job description.
I haven't run into too many other job types that require credit checks as part of the job. But I have seen the verbiage regarding running a credit check as part of the auth to do a background check.
Keisha,
I undersand your frustration. Sometimes it seems like things are deliberately in place to stop you from bettering your life.
Background checks are used to make sure there is nothing about your past that would make you unsuitable for the role. It is a very common practice for all employers to run, and ensures them a qualified candidate who isn't going to cause trouble.
A credit check is trickier. There are some states that limit what companies can do with your credit check - but unfortunately New Jersey is not one of them. However, if you think that a credit check is/has ruined your chances of getting a job, consider contacting the EEOC, and they will be able to help you determine if what they are doing is legal or not.
Basically, the reason that companies run a credit check is to make sure you a responsible person who can manage money well.
I hope this helps. Please feel free to reach out to me via CaseMail (click my profile, and then message) if you want to talk about this further or want some personalized help!
Usually, the credit report is not so much about your financial status as to check that you have no history of fraud, particularly if you are looking in the financial industries or will be responsible for cash handling.