WHY YOUR CREDIT HISTORY IS IMPORTANT TO A POTENTIAL EMPLOYER?
Overdraft facilities, low interest loans, being hounded by financial institutions to take advantage of low interest loans, shopping with plastic – these are all temptations that in most instances are unnecessary. You always have credit available to spoil yourself especially when you don’t have ready cash available. The concept is great. Buy now and pay later. What could be better for that instant fix? However like all things in life, there are serious pitfalls! Buying now is great; it’s the paying back that could get you into a great deal of difficulty. Every late payment or missed payment is recorded in your credit report.
If you feel your credit record is the last thing that an employer would look at, you are WRONG.
A Credit Check is standard practice to most organisations. Credit Checks allows employers the facility to assess the potential employees’ financial responsibility and thus gain insight into the personality. An employer may choose not to hire you due to your financial problems affecting your job performance. Alternatively an employer may not consider you for a finance related position due to your credit history.
Having a negative credit report affects the possibility of you finding employment. Most organisations do credit checks before even setting up an interview. Simply put, bad payers are seen to be irresponsible and who would want to employ such a person? |