You may already know that some prospective employers might run a credit check, but do you know why and what they’re looking for?
Let’s debunk 3 common myths about credit report checks by prospective employers:
Myth 1: Employers are looking at your credit score.
Truth: They are actually looking at your credit history.
Myth 2: Employers and lenders review the same credit information
Truth: While lenders focus primarily on your credit score and history, employers are looking at a comprehensive background report that can include your credit history, past employment and legal activity.
Myth 3: Employers don’t care about bad credit
Truth: While one late payment won’t disqualify you from getting a job offer, employers do care about your credit history. They view your credit history as a reflection of your overall level of responsibility and trustworthiness.
So, if you’re looking for a new job, review your credit reports and pay your bills on time. If you’re renting, solutions like RentReporters can help by reporting your on time payments to TransUnion.
For more information on RentReporters, visit here.