Who’s Checking My Credit?
I know every time I apply for a credit card, buy a car, or open a bank account, I will receive a credit check from the lender. That’s understandable because the lenders need my credit history to assess my ability to pay the loan back. In these cases, I am the borrower and the banks and credit card companies want to make sure I won’t default. But who else is checking my credit?
An article on MSN Money, 5 People Who Check Your Credit, says my credit report may be pulled out by:
- Cell phone carriers
I can see why the first four types of people want my credit, but why the employer-to-be? Does my bad credit mean I can’t fulfill my job duty? The MSN Money article reasons:
When you’re applying for a job, potential employers can pull your credit report as long as they notify you first. And, in fact, about 35% of them do, according to the Society for Human Resource Management. Why? Bad credit can be a signal of irresponsibility, or employers might be worried you’ll spend more time fretting about your financial woes than concentrating on the job.
I am sure I have other obligations that require much more time than the time I spend on “fretting about my financial woes.” Though I wasn’t asked by any employer for permission to check my credit history so far, this whole idea of “bad credit can be a signal of irresponsibility” doesn’t really make to much sense to me. In fact, it sounds like a kind of discrimination against people without a perfect credit.
So if you are asked to provide credit information after a job interview, what would you do? For me, well, I have to say it depends on the size of the pay check. If the job pays nicely, I probably don’t mind them have a look, though I don’t like it.
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