There is even a possibility of discrimination if an employer uses credit checks as part of the hiring process as this may have an adverse impact on protected classes. Further, under the federal Bankruptcy Act, a filing of bankruptcy may rarely be used in employment decisions. Employers should be able to delineate a clear reason for obtaining your credit information.
Good luck in your career search. Mental distress: How should I address an employee showing signs? Ask HR. Telecommuting: Can short-term jobs be lucrative and stable alternatives to full-time employment? Q: I am currently searching for a new position. What are interviewers looking for? Taylor : Interviewers typically use this question as an icebreaker or to quickly get to know a candidate.
It is really an identity showcase for your personality, values, and reasoning. It provides the interviewer a glimpse at how you might fit within their workplace culture. The best approach is to relax and be personable. A simple way to think about this question is to draw a line through the present, past and into the future of your career.
But before hiring you, potential employers may ask you to authorize a background screening as part of the application process. That screening could include checking your credit report. Employers are most likely to check credit when the job you're applying for requires you to manage finances or handle sensitive data. But some cities and states limit whether, and to what extent, employers can use credit history in hiring decisions.
If you're feeling uneasy about the information employers might see, read on to understand whether you should expect a credit check—and how companies use what they learn.
Your credit report is a chronicle of your financial history, including the loan and credit card accounts you've applied for and opened, how long you've had them, and whether you've made payments on time. Financial institutions use this information to determine whether you can be trusted to repay loans or pay credit card bills as required. It's most common to undergo a credit check as part of a job application if you're an aspiring manager or you'll deal with finances or confidential information in the role.
You could also be asked to undergo a credit check if you're being considered for a promotion. Employers use credit checks to gauge your trustworthiness and aptitude at managing money. A hiring committee may think employees who can skillfully oversee their own finances would do the same for high-stakes projects at work. Companies that run credit checks see a limited version of your credit report.
It includes personal information to verify your identity with the exception of your birth date ; your Social Security number; and loan and credit card accounts, including payment history and whether any accounts are in collections. It won't include specific account numbers or information about your spouse.
Employers who run credit checks cannot see your credit score. The report they receive includes information that contributes to your score, like payment history, and frequent late payments could be a cause for concern. But the three-digit credit number is not included. The screening itself also won't make an impact on your credit score. That's because a credit check is considered a soft inquiry. Credit reporting agencies differentiate this type of query from a hard inquiry, which occurs when you apply for a loan or credit card.
A soft inquiry doesn't involve a request for credit, so it's not a potential red flag for lenders the way several hard inquiries in a short time could be. A good credit score means you're a good credit risk more likely to repay a loan , whereas a low credit score means you're a poor credit risk. More than half of employers conduct background checks during the hiring process only, and the No. For security purposes, the credit report can be used to verify someone's identity, background and education, to prevent theft or embezzlement and to see the candidate's previous employers especially if there is missing employment experience on a resume.
For employers, it is a big picture snapshot of how a potential candidate handles their responsibilities. These are attributes that are important to employers. For example, would you want to hire someone in your accounting department who can't manage their own obligations? If an employer is running a credit check on you, it is most likely only after they already made a decision to hire you, and it is usually the last thing they check.
Since pulling credit checks cost employers both time and money many outsource to a third-party company , credit checks aren't necessarily used to weed out a big pool of potential applicants and not all applicants will have their credit checked. Employers are more likely to run a credit check for candidates applying for financial roles within a company or any position that requires handling of money such as accountants or retail roles.
Employers also don't see your date of birth. Since a lot of the credit report data that lenders and employers see is the same, employers have access to a comprehensive background report that includes, in addition to your credit history, your past employment, insurance and legal activity. Before responding, remember the interviewer most likely will have your resume in front of them, so try not to give a narration of your resume. It is really an identity showcase for your personality, values and reasoning.
It provides the interviewer a glimpse of how you might fit within their workplace culture. The best approach is to relax and be personable. A simple way to think about this question is to draw a line through the present, past and into the future of your career—connect milestones and goals so the interviewer can understand your career progression. Start by talking about what you currently do, and include a recent accomplishment. Then, bring up how your previous jobs have prepared you for this current opportunity.
Lastly, share what you are looking to do in the future, and specifically why you are interested in the job you are currently interviewing for. Seize your only shot at making a good first impression with an interviewer! There are no do-overs. Be personable and pleasant, take pride in your achievements, and smile when sharing them. Put your best foot forward!
You may be trying to access this site from a secured browser on the server. Please enable scripts and reload this page. By Johnny C. Reuse Permissions. Image Caption. Here are some other tips: Consider the audience. Is this question from a recruiter, a panel of interviewers or a hiring manager?
A response should be tailored based on who will hear it and what details they will be most interested in. Start the conversation by describing your key qualities.
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