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Will my credit history affect my job application?
Applying for jobs can be a busy and stressful time, but it’s also full of exciting prospects and new opportunities. Generally, your credit history won’t play a part in the application process for the majority of jobs.
However, you may be surprised to hear that some employers in certain industries will ask to credit check you before they give you the job.
How do you handle your own finances?
In particular, jobs that mean you’re going to be handling large amounts of cash often mean your employer has to credit check you.
It may feel like your credit history is private and your employer doesn’t need to know about it. But they may be deciding between hundreds of CVs, and your credit history could be the deciding factor.
Unfortunately, having a poor credit history means employers could view you as more of a risk if you’re handling cash. We understand that just because you’ve struggled with credit in the past, it doesn’t mean you’ll resort to stealing. But when your employer is juggling a number of CVs, it may be a way for them to whittle down the numbers.
An employer can’t credit check you without your permission, so they’ll always ask you if they need to look at your credit history. While it may be tempting to say no if you have a poor credit history, many companies have a policy of checking, so you might not get the job if you decline.
The employers that are more likely to check you
More and more employers are choosing to check the credit histories of people they’re looking to hire – especially if there are many people applying for the same job.
Some jobs, like those involved in finance, the police, the army and many senior management positions, will depend on a credit check.
In many cases, this won’t be to see if you’ve missed payments in the past, but to see how much money you owe at the moment. Some employers may worry that you will get into debt problems and this will affect your work, so they may decide not to employ you based on this.
This can seem unfair, but that’s why it’s so important to take action to repair the damage.
Get started on repairing things today
You may not realise it, but your credit history can affect other areas of your life too, especially if you need to get a mortgage in the future. Even if you plan to rent, some landlords may turn you away if you’ve got a poor history of making payments on time.
Don’t let it get you down, though, as you can start the road to recovery straight away. A good idea is to use one of the free services, ClearScore or Noddle, to check your credit history, and then see where you’ve gone wrong. Head here to find out how you can improve your credit score in three months.
Remember, no matter how difficult it may seem to turn your credit history around, it’s always possible to improve your situation. And don’t forget, every employer is different, and they may judge their decision on your other merits like your CV or interview.