How Might a Potential Employer use Credit Scoring?
One thing that could make some people worry is the fact that a potential employer might look at their credit score. They might worry that it will not look good and could impact their chances of getting a job. While this is true to some extent, it is important to understand how they might use it so that you do not overly worry, but you can make sure that it looks good. It is good to understand what they might be looking for as well.
To do an ID Check
They might want to look at your credit record so that they can check that you are who you say you are. They will want to check to see whether you live where you claim to and things like that. This is just to help them check the details of your application and to be sure that you have the qualifications that you claim to. Not all employers will necessarily do this but you could find that some will. It can help your case if you are on the voter’s role as this is something that will be used to check your identity. Some people do not want to vote but being on the voter’s role does not mean you have to vote. Some people worry about the fact that their details might be sold if they are on the voter’s role, but you can opt out of this if you want to so it does not have to happen.
To See if They can Trust you
Some employers will look at more than just this though. They might want to look at your credit record to see if you can be trusted. If you are working with money, perhaps for a bank, they will want to check that you are not in big financial trouble. This is because if you are, you might be tempted to take some of the banks money to help yourself out of trouble. Obviously, most people would not even consider doing this, most are honest and realise that this money will not be theirs to take. However, they could be cautious and if there was another candidate equally qualified for the job but with a better credit record, they could be inclined to want to take them on rather than you. This might also be the case with jobs where you might be open to bribes. Perhaps as a judge or police officer, for example. They will want to check that your finances are in order so that they are not concerned that you might be influenced by the offer of money.
What to do
What you might want to do is to think about your borrowing and the payments that you make regularly. Make sure that you are paying for everything on time that you need to, such as things that you need to pay monthly and that you do not borrow too much money. It can be a good idea to set up direct debits or standing orders so that the money is paid automatically as this means that there is no chance that you will forget. It is also a good idea to budget carefully so that you make sure that these payments are made first and that you buy all of your essentials before spending money on anything else. Then you will make sure that you repay the loans and pay all your bills and this will look better on your credit report. The good thing about doing this is that it will also benefit you, so you will no have extra charges for late payments.