Will Your Credit Score Affect Potential Employment?

A small number of states prohibit the use of credit information by employers as a means for making hiring decisions. California is the most recent state to join those that restrict use of credit information for that purpose. Certainly, it makes sense that if you are applying to work in an institution that demands at least average accounting skills, your ability to demonstrate that you have good credit may be important.  However, if you are applying for a job in which money is not an object (other than earning it), your personal business should remain just that.  Fortunately, states in increasing numbers are seeing the wisdom of separating personal business from business business. Unfortunately, the reality is that the oversight does not exist to prevent employers from screening employees as they see fit.

In a 2009 discussion for National Public Radio, evidence is shown to support the claim that employers indeed use credit ratings to determine the trustworthiness of a candidate, as well as to judge the character of a person they consider qualified to work for them.  While you may consider this to be unfair, unethical, and in some instances illegal, as a potential candidate for any job, your goal is to present the best image possible. Right or wrong, if you want to present such an image, one way to do that is to ensure that your credit score is not considered less than acceptable.

Ovation offers numerous financial tools that can help you manage your payments, save you money, and improve your credit score. From the start, a common-sense approach to your finances will help you avoid a poor rating. Credit is a necessary evil in our society, but you can manage credit by using it regularly yet sparingly. Pay your bills on time, and pay more than your minimum balance. If you have multiple credit payments, pay towards the credit card with the highest balance and the highest interest rate. Do not over-extend your credit, and manage your spending habits. By taking these steps, you will be better able to manage your credit score, thereby putting yourself not only in control of your finances, but also in control of your professional future, regardless of where you want to be employed.

Ultimately, legislation may be drafted compelling employers to ignore your credit score.  Regardless, do not take that risk with your future. Your choice today to manage your credit rating responsibly will demonstrate that you are a professional regardless of the circumstances.

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