Employers use credit checks to gauge your trustworthiness and aptitude at managing money. A hiring committee may think employees who can skillfully oversee their own finances would do the same for high-stakes projects at work. Companies that run credit checks see a limited version of your credit report.
What credit score is too low for a job?
If you can sell yourself to the hiring manager, then you’ll be fine. Any credit score that falls under 500 would be deemed unacceptable. A credit score between 500 and 630 would be deemed average. A credit score from 630 to 620 would be deemed good.
How can having a low credit score impact your ability to get hired?
A low credit score, indicating a history of slow payments and non-payments, could be a sign that you have reached the breaking point in your financial situation. If that is the case, the employer may see you as a potentially high-risk employee, and decide to eliminate you from the candidate pool.
Does a background check include a credit check?
“Credit scores typically do not show up on a background check. Most background checks for employment do not seek credit information, but rather, criminal history. Credit scores really do not get revealed in background checks.”
Does credit affect your ability to get a job?
What many people don’t know is that your credit report can affect your chances of getting hired, too. A CareerBuilder survey found that 72 percent of employers conduct background checks on all the employees they hire and, of those cases, 29 percent check credit reports.
What are employers looking for when they do a credit check?
Though prospective employers don’t see your credit score in a credit check, they do see your open lines of credit (such as mortgages), outstanding balances, auto or student loans, foreclosures, late or missed payments, any bankruptcies and collection accounts.
