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Can My Credit Score Hurt My Job Search?

Jul 13, 2014 4:04:27 PM

If you’re in the process of making a career change, then you might be concerned about your current credit score. Especially if you’ve been in the career change mode for a little while, tight times often show up in your credit report right away. The good news is that most background checks usually don’t use a credit score to disqualify a potential candidate. So, how are credit scores used by employers while you undergo your career change?

How Your Credit Score Can Affect Your Career

Credit Scores and Career Development

1. Identification – For the most part, companies will look at credit reports to confirm the identification of each candidate for the open position. Details such as your full name, current address and previous addresses are the basic information that hiring agents are searching for. After that, most employers don’t go much further into your credit history.

2. Specific Financial Positions – If you’re career change takes you into a financial position, there may be an exception to the rule. Employers and hiring firms need to see how you’ve handled your personal finances before they can trust you to handle the company’s money. If you’ve lived within your means or have a fairly low debt ratio, then employers will see that you’re a good fit for their organization.

3. Executive Hiring – Is your career change taking you towards C-level executive positions? You’ll find that most employers will ask for a credit check when looking at potential executive candidates. The reason for this is that employers want to glimpse into your financial mindset. If you run your personal finances in a responsible way, then employers can see that you’re not a potential risk for fraud or embezzlement.

Overall, most employers understand the impact that our current economy has on candidates who are making a career change. As long as you’re prepared to verify and explain any deficiencies in your credit report, professional recruiters and future employers should be satisfied with that information.

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Tammy Kabell

Written by Tammy Kabell

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