Applied for a Job and they are doing a credit check what are they looking for?

Question

I applied to a job that is with a commerical real estate office as an admin. asst. They are doing a detailed background check and they are checking my credit. My credit isn't all that great I don't have major things on there like repos or bankruptcy just late on payments because of slow pay in the past. Do I stand a chance of getting this job does anyone know what they are really looking for when checking my credit? I told the employer up front that my credit wasn't good and he had me go ahead and fill everything out like my W2 form and I did my drug test and he said he would let Corporate know about my credit! Let me know what you think I am really hoping I get this job. Thanks for any feed back! :)

Answer 1

Employers really just like seeing who they are hiring. I dont think a couple of late payments is going to hurt you, especially since you were upfront about it. The credit check helps them see you in another aspect, if you had something outstanding, they may consider it, but they don't expect you to be absolutely perfect.

Answer 2

They are looking for massive credit issues, not a few slow pays.  A lot of employers check credit now.  There are several reasons they worry about bad credit:

-you will be distracted and worried about your finances and not focused on your job

-creditors will bother you at work

-the employer may have to garnish your wages which is just a headache for the payroll folks

-you may be tempted to steal from the company to pay your bills

-you may be susceptible to a bribe to do something wrong which could put the company at risk

-if you can't handle your own money, the company won't want you handling theirs

-a credit rating is often viewed as a mark of responsibility.  ie: poor credit = irresponsible.  This is the one that really isn't fair.

If the hiring manager didn't think it was an issue, I would worry too much about it.  Good luck!

Answer 3

I worked for Century 21 real estate and they never did anything like this, in fact I've never heard of it in real estate.

Answer 4

They look for a sense of responsibility, accountability, and ability to self-manage.  Having no major derogatory like a bankruptcy, judgement or repossession will certainly help.  I doubt a few 30 day late payments in he past will prevent you from getting the job.  If you have several 60+ lates or all outstanding debt are reporting past due, that may come into question though and hurt your chances.