It is already hard enough to find a position you feel you deserve. With all the competition among college degrees, work experience and other qualifications there is yet another area a potential employer has to find appealing. Believe it or not, it is your credit report. A credit report is issued by an independent agency, such as a credit bureau, which contains certain information concerning a person’s credit history and current credit standing. You may ask yourself, how can my credit report affect how well I do my job? Or, if you just finished college, how can you pay off my student loans if I cannot get a job do to your credit history? There are also many people who have been unfortunate victims of identity theft, which can cause major distress in their lives. To make matters worse these victims may be turned down for a job even if they are perfectly qualified for the position. Potential employers check your credit report to see how financially responsible you are and to verify identity.

Is the Candidate Responsible?

This is the number one reason why employers check credit reports according to Salary.com. Employers often believe that if you manage your finances responsibly and live within your means, you are more likely to be responsible and practical on the job as well. A good credit report may also demonstrate that you have organizational skills. If you cannot organize your finances, how organized will you be for a meeting? Credit checks were primarily used for positions in such fields as finance, accounting and bookkeeping. Today, credit checks are performed for almost all positions.

Does the Candidate Say Who They Really Are?

With the rise of identity theft, you never know what to expect anymore. This is another reason why employers check credit reports. They want to make sure you are you. They also want to verify your employment history. So if you are trying to show off a resume on steroids, think again. It is unethical to say you worked somewhere and really did not. However, now you may not even get the chance to explain your little white lie since your employment history may appear on your credit report.

Will the Candidate Do Something Un-ethical like Being Involved in Workplace Theft?

Companies may not want to hire someone who is drowning in debt. A potential employee’s inability to pay off their debt may be a reason for this candidate to commit theft. This is a judgment call made by the employer, and according to a survey on Salary.com, 46 percent of businesses check for that reason.

Information You Should Know