How what's on your credit report can affect job applications



How what's on your credit report can affect job applications

Are you looking for a new job? Job searching can be a frustrating and lengthy process, but exciting nonetheless, as it's a chance to take another step along your career path. Whether you're new to the working world, thinking about a career change or searching for your next career advancement, going for a new job can feel like a daunting task, depending on the amount of information that the company is asking for.

It's possible employers may ask for permission to access your credit report. This isn't always the case and may depend on the type of job you're going for. It would also be natural to wonder why they need such information.

It's a good idea to be on top of your credit report, as it holds information such as whether you keep up to date with payments on loans and credit cards, the total level of credit that you already have, and how much of that you are using. It also includes details of any bankruptcies and county court judgments against you.

If your job involves handling large amounts of money, a company may prefer not to employ people who have a poor history of managing their own money.

This may seem unfair, but employers can often make quick snap decisions when faced with hundreds of CVs, so it's best to ensure you put yourself in the best position possible for sealing the job you want.

Here are a couple of things worth keeping in mind:

ï  Employers must have your permission to view your credit report. You have every right to say 'no' however this may affect your chances of landing the job.

ï  Employers simply look at certain factors that are important to them, unlike when you apply for credit.

If you think you might be asked for a credit report when making a job application, then it would probably be beneficial to access your report and see where you can make any improvements.

Small things such as a good credit report can make the difference between getting a dream job or not, so why not make the small effort and give yourself the chance of nailing that dream job you deserve.

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