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Do you Think that it is fair for an Employer to determine what kind of person you are Based on your Credit?

Since I have moved and been looking for a job I have noticed that places decide what kind of person you are based on your credit score. I have worked for a bank for 3 years and I would NEVER steal anyone's info or money... But since I have bad credit now no bank will hire me. I personally don't think that its fair I am a good person I have made mistakes yes but does that make me a bad person?

 
Anonymous

Asked by Anonymous at 2:14 PM on Apr. 17, 2009 in Money & Work

This question is closed.
Answers (15)
  • Well said! It seems to me most moms who think people with bad credit are irresponsible have never had a job loss and bills pile up. Think about it..MOST Americans live beyond their means. Especially now, with the horrible state of the economy, A LOT of Americans are just one ortwo paychecks away from being broke. Most Americans don't have a 6 month rainy day fund - & these days, it takes a lot of sacrificing to establish one. The banks, credit companies feed off people who are in debt more than they should be . They charge us exorbitant interest rates & make big bucks when you're late. If you're looking to point the finger and deem one untrustworthy, unethical, immoral -it should be the creditors. Why are those who can't keep up with the bills due to job loss, illness, personal issues, unfairly labeled as non-desirable employees? A word of advice to those moms -Don't judge others 'till you've been in their shoes.
    Anonymous

    Answer by Anonymous at 11:12 PM on Apr. 17, 2009

  • Banks do it based on credit because the worse off you are the more likely you could be to steal from them. I know you need good credit to work for them and you can not have more than so much debt because then your a financial risk to them. Start repairing your credit. Do debt consolidation as bankruptcy will hurt you even more.
    brailynsmama08

    Answer by brailynsmama08 at 2:17 PM on Apr. 17, 2009

  • I recruit for retail, and we do credit checks also...however I do have the option to be flexible, if I have a great condidate and their past due debt is under 3-4K I will most likely send that person for final approval to my boss and I will fight their case. I don't believe credit determines what kind of person you are, it's just simply the nature of the business and the jobs you're applying for. There have been great candidates that I've interview but with 26-54K in past due debt is hard to put that on the table for an exception. You will find something, hang in there!
    LuvmyFam6

    Answer by LuvmyFam6 at 2:29 PM on Apr. 17, 2009

  • Just another tool to weed out potentially bad employees. Most employers use them anymore. When it comes to banks it makes perfect sense to want to have financially responsible people working for you. Those with huge debts could be a risk.
    Anonymous

    Answer by Anonymous at 2:39 PM on Apr. 17, 2009

  • No, it doesn't make you a bad person at all. I had to consolidate all my cards after college and now I have really good credit. It taught me to take credit seriously and with this economy, it's even more important.
    Anonymous

    Answer by Anonymous at 2:41 PM on Apr. 17, 2009

  • It doesn't make you a bad person no but the sad thing is that there are a lot of bad people out there that think of credit cards as free money with no intention of ever paying it back which is stealing thats how banks see it as theft if you don't pay your bills... I had ridiculous amounts of credit card debt at one point which I paid on time and paid off in full eventually so the amount of debt you have shouldn't be an issue but if you pay your bills i can understand that at a bank.
    Anonymous

    Answer by Anonymous at 3:36 PM on Apr. 17, 2009

  • No, i think that is rediculous. I too use to work in banks since i graduated high school I have not for the past 3 years, and not my credit is not good at all because i am not good with MY MONEY. I never had a problem when i worked in the banks or with balancing. I was very good at banking.I guess i screwed myself when i wanted to try the healthcare field, (i hated it). Anyways i applied for a teller position online with a bank and it said they would run a credit report .Anyways i figured they would atleast meat me first. No, within 30 minutes of submitting the app online i got an email that said i didn't meet there credit qualifications. I was shocked they didn't even want to meet me or call my references of past employers. They did not have time to do that. And i would thing it would be based a lot on what past employers would rate you as. But soley based on credit. That stinks.
    Anonymous

    Answer by Anonymous at 3:40 PM on Apr. 17, 2009

  • I think its fair. I know a guy who has a sister who worked for a credit card company. Well, they would call people, get them to apply and if approved they'd send them their card with a balance. Well her and her friend decided to NOT send these people their cards, take the cards and spend them ALL. Yes they got caught.They are in a heapshit of trouble, too.
    babycakes254

    Answer by babycakes254 at 7:44 PM on Apr. 17, 2009

  • The main reason I've always heard for doing credit checks is to determine how responsible someone is. Less responsible people generally have lower credit scores and make less responsible employees.

    Is it always true? Of course not. But employers will grab at anything that helps them weed out the lemons since it can be next to impossible to get rid of a rotten employee once hired. And yes, that means some possible star employees get tossed out too.
    kaycee14

    Answer by kaycee14 at 8:04 PM on Apr. 17, 2009

  • And if you are wondering why they don't bother to call previous employers to check on how great an employee your were... it is simply not worth their time. The previous employer is limited on what they can say. They can state that, yes, you worked there. They can state that, yes, you are eligible to be rehired. They can not talk about how great you were or how rotten you were. They can't talk about how you got along with everyone or how you were the most dispised person there. Bare bones facts only... you worked there from this date to that date, you started at this salary and left at this salary, you are or are not eligible to be re-hired. That's it. Anything else opens them up to lawsuits. That's why most potential employers don't bother to call and ask. Not because they are lazy. Because it is pointless.
    kaycee14

    Answer by kaycee14 at 8:09 PM on Apr. 17, 2009

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