When was the last time that you got a copy of your credit report? Are you aware that you are entitled to one free credit report per year? You might mark your calendar to get a copy every year on your birthday, just like you do for your yearly physical exam with the doctor.
This is one thing that we often forget about and you really do need to take advantage of this every year; especially now in today's very unstable credit environment and it also impacts your job search as well.
When I went hunting for new car insurance this summer, I called several local agencies as well as conducted an online search where you can get quotes from several companies all at the same time. Little did I know that each one of those inquiries would show up on my credit report. How did I find out about this? Well when I received my new insurance policy, there was included a note that said the information on my credit report was used in determining the rates I would be charged on my coverage. I was told by the credit bureau when I called, that those inquiries should not affect my insurance rating. This was a red flag to me that something was wrong, so I sent for a copy of my report.
Several days later I received it in the mail. Upon checking my report, there was an address listed there of a place I've never lived, an alternate spelling on my last name and several credit entries that are not mine and have less than stellar ratings. I called the credit bureau immediately to discuss this with them and advised them of the incorrect information. They said they would check everything out and send me a copy of their corrected findings. They also agreed to check a rating that was given on one of my own accounts that was inaccurate.
Did you know that most prospective employers check your credit report and many also do a criminal background check ? If you are job hunting I would suggest that you get a copy of your credit report and your criminal background report. Review them so you don’t have any nasty surprises and are able to correct any errors quickly.
Employers feel that how you handle your credit obligations is an indicator as to how good of an employee you are going to be. With so many people unemployed for a lengthy period of time,struggling to make ends meet on just their unemployment benefits, many have gotten behind on their obligations. Under normal circumstances they handled their finances responsibly. I personally hope that prospective employers are taking our unusual high unemployment rates and length of time being unemployed into consideration when reviewing a prospective applicant. It would be a shame for them to turn down a candidate who would be a fantastic employee if they did not consider that credit report.
If you are receiving multiple turn-downs for open positions, maybe it is time to be doing a follow-up call to the company and ask to speak to the person who interviewed you. Explain to them that you would really like more information as to why they felt you were not qualified for the position. Ask what do they feel you need to strengthen in your qualifications in order for have a position with their company. Come right out and ask them if they pulled credit and criminal background checks on you and if so, was there information in those files that contributed to their decision not to hire you. Most companies have a written policy that obligates them to advise you of derogatory information received in a credit report and some also require them to tell you if they also found something in a criminal report.
Once you know what is in both your credit report and your criminal report ahead of time, you can address potential problems that might arise during the initial interview process and help you get that second interview and be hired.
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