What I’ve been saying for quite some time about credit information affecting job searches is being touted by many and most recently reported by CNN Money in their recent article, titled “Employer credit checks keep jobless out of workforce,” posted on March 4, 2013.
A recent report advises that one in four unemployed Americans have been required to go through a credit check when applying for a job, and one in ten have been denied jobs due to information in their credit report, according to a survey by liberal think-tank Demos of about 1,000 low- and middle-income households with credit card debt.
In addition to a person’s credit worthiness affecting what money will cost them (loans); what they will pay for the things they need or want to purchase; their ability to live where they want to live; and that final bastion, the ability to land a job. According to Amy Taub, Demos senior policy analyst and author of the report, “Employer credit checks are common and they’re keeping people from getting jobs.” Credit information is being used as a screening tool to help prevent theft and embezzlement.
Once upon a time, the belief was that only those seeking senior management level positions or positions meriting a review due to company security measures relating to the need for higher level positions and the concern about potential breaches affecting the welfare of the company. The times have changed . . . now entry level positions entail checking for creditworthiness.
Credit scores affect our lives in so many ways. And the errors contained in our credit reports can do us great harm.
Here is the link to CNN Money’s article. Another must read for being informed.
Your Credit Improvement Specialists