Jobs And Credit Ratings

The idea behind credit agencies and credit scores is to rate the likelihood that an individual will repay their debts. Sadly, more and more corporations are using this information for a purpose it was not intended for. Many jobs ask applicants to consent to a check of their credit rating, and some will even fire workers who fail recurring credit checks. Take this case in Ohio where a worker lost his security clearance and his job based on a falling credit score. As usual, the worker really doesn’t do anything security related, and his bad credit score is due, in large part, to unpaid medical bills for his spouse who has leukemia.

In college, I learned in history class that people were regularly denied employment or fired because they were suspected of being homosexuals. At that time, it was felt that homosexual behavior made someone a security risk as they could be blackmailed into revealing secrets if someone threatened to out them. Regrettably, we seemed to have moved beyond such draconian views on that subject, only to find new ways to persecute workers for conduct unrelated to their employment.

According to this report on my local Denver news, more and more employers are disqualifying people from employment due their credit scores. It is just so sad that people who are unemployed and unable to pay their bills are not able to get a job and get back on their feet. In the past, I have written about how many employers are going to be banning pre-employment credit checks, but it hasn’t happened yet.

Until then, it is important that you guard your credit score with your life. That does not mean fretting over ever credit card application or closed account. All it means is that you need to pay your bills on time. Every now and then I hear from readers how they just plan on “walking away” from some debt. This is the worst thing that you can possibly do. As long as you are paying your bills on time and have a decent credit score, you have nothing to worry about when it comes to employment. It is only the people who are repeatedly delinquent who will find themselves with credit scores that are low enough to preclude employment.

It is not right and it is not fair, but sadly, it is the world we live in. Until laws have changed, you would be well advised to maintain your credit score as if your livelihood depended on it.