Job applicants can attest to the number of times someone asks them to sign a form allowing a credit check. This is mostly a standard practice in American hiring practices. EnterprisesTV reviews which industries should run the credit check.
A credit check should be run if someone applies and is interviewed for a job handling money or finances of any kind. Businesses should not be permitted to run a credit check for positions that have nothing to do with money whatsoever – like writing. In fact, job applicants should be aware of who is asking for the credit check and why it needs to be run. Even though some companies ask applicants to sign a form allowing a credit check, sometimes they are not run at all. So why ask?
Employers may be looking for patterns of the prospective employee not managing money well. A person’s credit score is not useful to most hiring managers. What a credit report shows is how well someone is managing that part of their financial life. The Enterprises TV show notes that when possible new employers run credit checks, they are considered a soft hit on the report – and not ding credit scores.
Credit report checks should only be run on applicants who are the top candidates for hire and those who will be handling money and finances, and are responsible for data security. People interviewing for jobs should review their credit reports regularly.
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