When potential employers check your credit in the background check. Is it true continued below!!!

Question

Is it true that the credit report will show collection accounts and credit history, but not the credit score. Am I right?

Answer 1

most all jobs now days have a back ground check, not a credit report, they check out you to make sure you have been honest and trustworthey on the past job. they usely go back 6 or 7 years, credit reports are mosty for loans and renters to check out how they are on paying their bils on time ,etc///

Answer 2

It depends on what type of report they pull.  A large employer will have a contract with a company that provides credit reports.  They may have contracted for reports and scores or just reports.

They generally don't care about the exact score.  They are looking at the way you handle your money and responsibility.  A lot of late payments could signal than an applicant is unorganized.  A lot of charge offs on store credit cards could signal an out of control shopper with impulse control issues.  A medical bill charge off is less of a red flag than a consumer debt charge off.   Issues related to a divorce are usually overlooked.

Studies have been done that indicate financial pressures lead to distracted workers as well as the potential for theft.

A potential employer doesn't really care if your score is 700 or 701.  They care about the way you handle your personal responsibilities.

Answer 3

That is mostly true. An employer credit check doesn't really need your score because they are not extended credit to you ie) credit card, loan, mortgage, etc..

What they are doing is trying to validate the likelyhood of your responsibility at your potential new job in comparison to how you manage your financial affairs.

Even though it doesn't make you a poor job candidate they don't want to see someone who has numerous collections, defaults and bankruptcies because they feel you will compromise your morals (aka steal) to fulfill your stressed-out finances.

Answer 4

It depends on what kind of credit report they pull.  

In addition, credit reports have a lot more information than simply a credit score.  For example, if you filed bankruptcy, or got a judgement against you or don't pay your taxes or parking tickets, etc, they'll know because it will show up in the public records section.  

In addition, if you debt balances add up to $3000 per month and your new job is only going to pay $2000 per month, then the employer knows you are in big trouble. If you are getting a job handling money, then you probably a good candidate for having money missing.