Here’s the thing with credit histories: it’s easy to fall behind on your bills when you don’t have a job. The reduced income (or total lack of income) really works against you. While half of all companies report that they check the credit reports of at least some prospective employees, there isn’t really any solid evidence that correlates bad credit with being a bad employee. [More]
Brad and his wife drove a few hours to a car dealership, planning to pay cash for a new vehicle. Well, not cash exactly: they were putting part of the balance on a credit card (for airline miles or other rewards, we’re guessing) and had a cashier’s check for the rest. The dealer agreed to this deal over e-mail and over the phone. Then, when they reached the dealership, they were handed a credit application to fill out. Wait, why did they need their credit checked when payment in full was sitting right there in their hands?
Despite proof that a person’s credit history isn’t an accurate predictor of their job performance, companies still do it. This is unfortunate for candidates whose recent payment history isn’t so great because they–I don’t know–need a better job, or don’t have one to begin with. The good news for job hunters is that the number of employers performing these checks is falling.
Maybe you weren’t worried when you heard that Experian was adding rental payments to its credit reports because you’ve always paid your landlord on time. But now it’s time to look deep within your psyche and soul to ask yourself if you’d pass a psychic credit check.
Some experts claim that there’s no connection between poor credit history and poor job performance. That doesn’t stop employers from evaluating applicants based on their credit reports. The governor of Illinois signed a law this week prohibiting employers from hiring on the basis of credit checks…but there are some pretty big exceptions.
According to a survey of human resource folks, 60% of them say they are now running credit checks on potential hires. But there’s a new movement in several states — and one bill stuck in Congress — to make it illegal for a company to run such checks, because detractors claim they are hurting people from getting jobs during the recession.
Since posting an article about Craiglist apartment listing scams a month ago, we’ve heard from lots of people who fell for the scam. If you’re one of them, here’s what you need to know.
Nathan’s been having trouble this week buying a prepaid GoPhone from AT&T Mobility’s website. He finally found out the reason: they couldn’t verify his credit history. This is confusing because it’s a prepaid GoPhone and because his credit history is superb. “Cheryl refused to transfer me.