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credit check at job

I am wondering if anyone has had to sign off on a credit check for a job. I have been thinking about it and I am assuming that a pos. i am meeting on would require this as its for a large financial institution. Are they just going off credit scores? Or looking at your assets and savings and an overall look. Are hiring managers looking at this only---or are they showing it to people that would be your superiors (that seems uncomfortable if my superior knows how much money I have in the bank!)

Re: credit check at job

  • I think it is mostly to look at past jobs and past locations you lived in.  I worked at a job that did a credit check and they did it to check for states to do BCIs in.  (The job was an assisted living.  Plus your credit check wont show how much you have in savings.  It would show your outstanding debts (credit cards, mortgages, loans) and if there has been any bankruptcies or delinquencies.  If you are concerned I would pull your credit report at annualcreditreport.com
  • ok thanks! not really concerned, just wasn't sure how in depth they went

  • If this is a financial company, they will probably pull your credit report and verify what's on there as far as any negative items are concerned. They may also do a criminal back ground check. When I interviewed for a large bank, they actually took finger prints...I had to be bonded.

    "Being bonded means that you are licensed and insured against damage that might be caused by you or your firm while performing a service. Bonding is often a required thing for individuals in the service or contract business as it protects them and their customer against large damage claims. It means that a person is trustworthy and reliable. People that work with finances, property, or other important or valuable information are generally bonded. Which means their criminal record is clean in terms of fraud, embezzlement, and theft."

  • Pretty sure the credit check is just looking at your credit scores, and making sure all your accounts are in good standing, or that you are doing some kind of debt management if they aren't.  They can look at some of your accounts if they are delinquent or considered poor standing, to see if it is just a matter of late payments (and if so how late?) or something else. 

    HR will probably be the only ones who are given this information and keep it, unless there is some reason why your supervisors would need to see it like an internal investigation, but at that point you'd have a second credit check done so it's more up to date.

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  • imageBrina105:
    I am wondering if anyone has had to sign off on a credit check for a job. I have been thinking about it and I am assuming that a pos. i am meeting on would require this as its for a large financial institution. Are they just going off credit scores? Or looking at your assets and savings and an overall look. Are hiring managers looking at this only---or are they showing it to people that would be your superiors (that seems uncomfortable if my superior knows how much money I have in the bank!)


    What state are you in?

    It's illegal to check a potential employee's credit if you are in New Jersey.

    They are NOT allowed to ask for your savings/assets information.  if they do, run like hell
  • I work for a company that conducts background checks for new employees of large corporations, and I specialize in grading their credit reports on a pass/fail basis. The numerical score (FICO score) is not something that is accessed in this type of credit check. The items I look for are the total number of accounts currently in collections status, tax liens, unpaid child support issues and payment patterns over the life of their credit histories. When I look through a person's payment history I am looking for patterns of late payments, charge-offs, repossessions, foreclosures, etc. Current credit issues are compared to past credit issues since a lot of people come upon hard times through no fault of their own. If a person has a good overall history or a history that has recently improved, these things are taken into consideration. The results of your credit check should be accessible only to your HR Department.
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