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When Companies Ask for Your Credit Score.....

Posted on 10/31/2009 5:34:00 PM PDT by hsmomx3

I have been job-hunting for some time now and applying for jobs online.

I applied for one job in particular which is an office job and received the following email in response to my application and resume:

"I have reviewed your resume and I am very interested in hiring you. Before I can setup an appointment, I would need your recent credit score. Your credit score is required because the position you applied for includes handling company cash and using a company credit card. Don't worry, if your score is low for a legitimate reason, you will have an opportunity to explain why."

Does this sound legitimate to you? I am hesitant to give information such as this.


TOPICS: Business/Economy
KEYWORDS: credit; employment; fico; help; workplace
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Thank you for your advice/opinions.
1 posted on 10/31/2009 5:34:01 PM PDT by hsmomx3
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To: hsmomx3

“I am hesitant to give information such as this.”

What is it?


2 posted on 10/31/2009 5:35:46 PM PDT by jessduntno ("Faux News" to "Foe News"..."they laugh at you, then they fight you, then you win." - Ghandi)
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To: hsmomx3

A lot of companies are starting to include credit ratings in their background checks.

They do so with the assumption that if someone has horrible credit, numerous defaults, and is potentially facing bankruptcy, that they may not be a stable employee.

Whether that is legal or ethical is another issue. Personally, I don’t think it should be a factor if you have bad credit but it has had no effect on your job performance in the past. But that is very difficult to ascertain, so I’m a bit divided on the issue.


3 posted on 10/31/2009 5:36:47 PM PDT by Ghost of Philip Marlowe (I'd rather be a teabagger than an ankle-grabber.)
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To: hsmomx3
Ask for your credit score? Why not just run a credit report on you? Seems odd to me.
4 posted on 10/31/2009 5:37:22 PM PDT by Dan Nunn (Some of us are wise, some of us are otherwise. -The Great One)
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To: hsmomx3

It is legitimate. You don’t have to worry about that showing as a credit check, from what I understand. They are getting the score, which is separate from your credit history as it is an interpreted version of your history, coupled with other information.

There have been studies that show that the more financially risky someone is, the less reliable they are in other areas.


5 posted on 10/31/2009 5:37:28 PM PDT by ConservativeMind (I love it every time a criminal dies at the hands of a victim.)
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To: hsmomx3
I would decline to give it, and ask for a company DEBIT card instead, to be loaded up when required.

I frankly think these scans go way too far, and should be banned unless the person handles cash or is directly responsible for finances.

6 posted on 10/31/2009 5:37:34 PM PDT by montag813 (During times of universal deceit, telling the truth becomes a revolutionary act. -George Orwell)
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To: hsmomx3

I’ve seen ones like that mentioned, I think it is a scam. My current employer asked for permission to run my credit/etc.


7 posted on 10/31/2009 5:38:17 PM PDT by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
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To: hsmomx3

Yep, sounds legit to me given the position. You need to make sure the information is accurate, though.


8 posted on 10/31/2009 5:39:07 PM PDT by jennyjenny
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To: jessduntno

I’d certaily get the name of the company and three business references before I gave them any more information if they’re a company you don’t readily recognize. Also check on the Better Business Bureau site and see if they’re listed for anything. Also call the Secretary of State’s office and see if have any complaints for compliance issues or scams.


9 posted on 10/31/2009 5:40:33 PM PDT by RowdyFFC (The opinion of a wise Welshtino woman...)
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To: hsmomx3

I guess it depends on one’s credit score. I’d be happy to give mine if I were interviewing (it’s already saving me thousands on insurance). As to what it means...While nothing is absolute, to me a good score means that the person is less likely to be distracted at work by bill collectors, less likely to have marital strife (since money is often a key reason marriages break up), and less likely to steal from me to pay debts.

I’m all for it...in my case, but maybe not if I had a lousy score.


10 posted on 10/31/2009 5:40:41 PM PDT by BobL
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To: Ghost of Philip Marlowe
They do so with the assumption that if someone has horrible credit, numerous defaults, and is potentially facing bankruptcy, that they may not be a stable employee.

My best hire ever was a 50-something ex-engineer who just couldn't keep his finances straight, and had a bankruptcy. He ran circles around 30 year olds in the office on tech matters. He taught himself SQL, Database Admin and Oracle programming in 6 weeks! If I had run a stupid credit check I would have likely passed him up for some 20-something Millenial a**hole who had no loyalty, would have taken our training and taken the next job offer to come along.

11 posted on 10/31/2009 5:40:41 PM PDT by montag813 (During times of universal deceit, telling the truth becomes a revolutionary act. -George Orwell)
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To: hsmomx3
Depends on the office, does it deal with a payroll money, or has an expense account? The company may of been a victim of embezzlement in the past. Go with what make sense to you. Don't be afraid to ask “Why”. An honest employer will tell you why, within the limits that the law will allow.


12 posted on 10/31/2009 5:43:02 PM PDT by darkwing104 (Lets get dangerous)
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To: hsmomx3
I'm suspicious. Who, in this market, reviews an e-mailed resume and states they are very interested in hiring you by e-mail?

You've had no personal contact at all, so you really don't know anything about who these people are. If you have one of those consumer protection guys on your local news, I'd be tempted to send off an e-mail and see what they say.

13 posted on 10/31/2009 5:43:31 PM PDT by Dianna
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To: montag813

Let’s face it, the background checks that most companies run are a waste of time. They’ll catch the obvious warning signs (like a criminal record), but they have no way to gauge how good of an employee you’ll be. It’s pretty much a crap shoot.

And I agree, companies could pass up a great employee by finding someone has a bad credit rating for no other reason than a recent divorce.


14 posted on 10/31/2009 5:43:49 PM PDT by Ghost of Philip Marlowe (I'd rather be a teabagger than an ankle-grabber.)
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To: hsmomx3
I should clarify...they should be asking for permission to pull credit on you so they can get your credit score. If you’re generally dishonest, I doubt they’d simply take your word for what your credit score is. People who may be in credit trouble and therefore have a low score may not be looked upon favorably by a company who is hiring you to handle their money. The risk of stealing is considered higher given those circumstances.
15 posted on 10/31/2009 5:44:52 PM PDT by jennyjenny
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To: hsmomx3

Are Dumb?! /s

Don’t give your frickin’ SS# or credit score to someone or anyone for that matter.

It sounds like you haven’t even interviewed with them. Why would they want to hire you without some handshaking and face time?

Besides, if they want to know your credit score they will pay for it as part of your background check.

Don’t answer any more of their emails.

On the other hand, you might call his brother in Nigeria.


16 posted on 10/31/2009 5:45:14 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Vendome

I never give my SS# out and did not in this instance. I checked them out with the BBB and they could not be found. I even did a search at the BBB using the company web address and again, nothing could be found.


17 posted on 10/31/2009 5:47:35 PM PDT by hsmomx3 (HERE WE GO STEELERS, HERE WE GO..........)
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To: hsmomx3

If they want your information, they will pay to get it as part your background check.

No one ever asks for stuff like that without an interview.

Someone is trying to take advantage of a desperate situation, real or perceived.

What kind of job is this again?


18 posted on 10/31/2009 5:49:55 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Ghost of Philip Marlowe
And I agree, companies could pass up a great employee by finding someone has a bad credit rating for no other reason than a recent divorce.

Yep. That 55-year old programer came up with a brillian concept which nearl doubled our revenue. I gave him a huge raise. But a year later he was back to living paycheck to paycheck. Just the way he was. Dream employee but horrid with his own finances.

19 posted on 10/31/2009 5:50:42 PM PDT by montag813 (During times of universal deceit, telling the truth becomes a revolutionary act. -George Orwell)
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To: Vendome
It sounds like you haven’t even interviewed with them. Why would they want to hire you without some handshaking and face time?

Telecommuting is extremely common these days, particularl for tech jobs. Half the jobs on Dice are telecommuting.

20 posted on 10/31/2009 5:51:45 PM PDT by montag813 (During times of universal deceit, telling the truth becomes a revolutionary act. -George Orwell)
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