25th November: Do you know that having a bad credit can prove worse in the way of searching a job?

Well, it is a fact that having a bad financial past like a bad credit can have a poor impact on your employment hunt. That’s because you cannot keep your financial history hid from your potential employer.

Poor credit- an obstacle in job hunting--As a common norm, majority of companies make it a point to check the financial history of the concerned applicant before giving him/ her an offer of job.

Candidates applying for jobs are asked to submit their credit checks since nearly thirty five percent of employers consider credit checks for pre-employment screening process. And that holds true when companies are considering candidates for promotions.

The reason why employers are adopting this new method for selecting a candidate for a job, especially where the job is of higher level, is to ensure that he/she possesses the ability to handle the finances well.

Benefits of checking credit report—Although, there is no benefit of checking the credit report of an applicant applying for a junior or a basic entry-level work since it will not have any involvement with cash transactions.

However, checking the credit report of any applicant applying for job positions involving handling of cash is good to weed out those having bad credit.

Get prepared—Hence, it would be good if you take time to find out the details in your credit report before proceeding with your job hunt. You can get of copy of your credit report from TransUnion, Equifax or Experian(any of three credit services).

You have the right to get access to your credit report once in a year without paying anything from your pocket under an change to the Fair Credit Reporting Act. And while examining your credit report, you can always contact the concerned creditor if there is any error in the report.

You have the right to ask the creditor to report the error to any of the three agencies.

Remember, time is a great healer, and that holds good even for bad credit history because majority of incidents having bad credit will get omitted from your credit record after a period of seven years.