You have it all you think, that great resume, the snappy new business clothes for the interview, and a killer smile…but could something you aren’t even aware of be sabotaging your job search?
Many job seekers aren’t aware that their credit score could be keeping them from the job of their dreams.
Here are some things to be wary of:
Finance-related Job Searches
If you are applying to any area of the financial market, such as stock broker, banking teller, or analyst, you can be assured that the hiring manager is going to take a look at your credit background.
If you’ve had bankruptcies or are always late paying your bills, they’ll believe you’re at a higher risk around their currency.
Why Pull the Credit?
Most hiring managers are going to want to see a 750 credit score or higher. Good credit shows responsibility and character, two characteristics that employers want to see in a potential new hire.
They also want to make sure that you aren’t going to be stressing over bills or distracted by your own financial problems that you can’t do your job properly or efficiently.
Another factor that can be determined is your reliability, which may come into question if there is a large debt-to-income ratio.
How Do They Obtain Credit Scores?
You may wonder how that hiring manager even was able to legally pull that credit report on you.
Keep in mind, many times while you are interviewing for jobs you’ll be signing paperwork agreeing to the background check that is so standard with job hiring today.
In addition to this background check, there could be a paragraph that states they can pull a credit report as well. Read carefully if you are unsure whether you’d like a credit report pull.
What You Can Do
If you know you have problems on your credit report, just let them know ahead of time.
A little explaining before they see it for themselves shows that you are upfront and that you take responsibility for your lack of financial prowess. While a credit rating can be a deciding factor in getting you hired, it is one of the lowest factors according to the Society for Human Resource Management.
So just take a deep breath and launch into what they are going to find and why they’ll see it. Honesty can be the best policy on a job interview.
If you are looking for a job, keep in mind that you may want to attempt to bring your credit score up if you have a low one.
Of course, this takes advance awareness that you are going to be in search of a job and can’t be well-planned if you are seeking employment at the spur of the moment.