Question

When was the last time you checked your credit rating? Do you feel your credit score should be a consideration when interviewing for a job? Why or why not? If you were the hiring manager, would you consider using a credit report or score to select the best candidate for a position?

Answer 1

The last time I checked my credit rating was when I was applying for a new credit card. Generally If you have registered yourself on a credit checking portal, they will send you monthly reports about credit score. A credit score of 700 and above is generally considered a good score which means your credit worthiness is good. Banks and credit institutions will not have a problem in issuing you credit because you have been paying your amount due on time.

A lot many places, employers tend to check the credit score of the employees. Companies often request to see your credit history when you set up utilities for your home, apply for an apartment, request an insurance quote or apply for a job.

That last one makes a lot of people nervous — what does someone's credit history have to do with whether or not they'd make a good employee? In many cases, it has nothing to do with it, which is part of the reason most hiring mangers don't do employee credit checks, according to a survey from the Society for Human Resource Management. In 2012, when the group most recently surveyed hiring managers on the topic, 53% of organizations didn't conduct credit checks for any applicants, up from 40% in 2010 and 39% in 2004. The data is based on a survey of 544 randomly selected SHRM members and has a margin of error of plus or minus 4 percentage points.

What employers are really looking for — again, if they look — are patterns of money mismanagement that could put the employee in a position where they may not be the appropriate person to manage the money on behalf of the company or might make them a little bit more susceptible to compromise their ability to handle sensitive financial information.Typically what they're looking for are patterns of money mismanagement and debt that the employee has not attempted to resolve. Things like education debt and medical debt aren't part of such patterns.

Yes I would check the credit report of my employees basis the above reason.