A Bad Credit Report Could Cost You a Job

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A Bad Credit Could Cost You a Job

• A survey done by the Society for Human Resources,
  found that in 2009, 60 percent of the employers
  ran credit checks which were up from 42 percent
  in comparison to 2006. There was an increase of
  almost 50 percent.

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A Bad Credit Report Could Cost You a JOB!

• Recently, I was at a 7-Eleven
• to pick up a cup of coffee. I
• noticed a local newspaper cover
• page with the headline
• A Bad Credit Report Could Cost You a Job.
• I picked up the newspaper and started reading the
  article. It talked about, how in order to get a
  good job these days, more and more employers are
  pulling credit reports looking at their
  candidates Credit Profile.

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A Bad Credit Report Could Cost You a JOB!

• This is a very dire situation. A person,
  especially in todays economy, could have a bad
  credit report for a number of reasons, being laid
  off, medical issues, or for many other reasons
  and now they cant even get a job. It is really
  a, what came first, the chicken or the egg
  situation. The statistics that were shown in the
  newspaper referenced a survey that was done by
  the Society for Human Resources. They found that
  in 2009, 60 percent of the employers ran credit
  checks which are up from 42 percent in comparison
  to 2006. There was an increase of almost 50
  percent.

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A Bad Credit Report Could Cost You a JOB!

• What would you do if you had bad credit and at
  the same time no one wanted to hire you because
  of your bad credit?
• I personally think this is discrimination and
  there should be a law suit filed against
  employers for discriminating against people
  because of their credit report.
• If the person is qualified to do the job and for
  whatever reason they have a bad credit, that
  should not be the deciding factor to hire the
  employee. One possible option I see is that the
  employer can have a program for the employees
  with bad credit, and utilize Financial Education
  Services companies and organizations to help them
  fix their bad credit.

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A Bad Credit Report Could Cost You a JOB!

• There is good news though. WA and HI have banned
  this practice and there is a bill pending in
  Congress that would ban the use of credit reports
  for hiring. However, there is an exception for
  people in the financial services industry and
  certain government jobs in the bill.
• Being in the financial Industry as a Certified
  Credit Counselor I would like to suggest certain
  tips that can help people with bad credit and how
  they can establish a good credit rating.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• Tip 1 Using Your Credit Cards Effectively When
  using your Credit Cards keep in mind that it is
  money that you owe someone. The credit card
  companies have allowed you to use their money to
  be able to buy the things you want and need.
  However when credit cards are used effectively
  they can actually work in your favor. Most Credit
  Cards offer reward programs when you use the
  card. To get the most rewards, the key is to pay
  off your credit card balance every month.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• Tip 2 Use only 27 percent of the available
  credit limit This is important. Anytime your
  balance on the credit card goes above 27 percent
  it can impact your credit negatively. So for
  instance if you have a credit limit of 5,000.00
  make sure to use only 1,400.00 maximum.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• Tip 3 Never close any Credit Cards This is
  very important. Your length of credit history and
  the total available credit limit is a big factor
  in the calculation of the credit score. Every
  time you close an account it is going to reduce
  your available credit limit and if you have had
  this card for a long time it will also wipe out
  the history you have established for all those
  years.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• Tip 4 Pay all your bills on or before the due
  date This factor alone counts for 35 for the
  calculation of your credit score. This is what
  establishes your credibility which as you know,
  is very important in life as well. This also
  reflects on your personal life. One of the
  reasons more employers have started looking at
  credit report before they hire an employee is
  this, to see how the employee manages things in
  their life. If a person can manage things in life
  well, they will be responsible at the job as well.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• Tip 5 Have a plan If you currently have bad
  credit and do not know where to start then I will
  share with you a simple and an effective plan.
  First if you dont have a credit card, get one. A
  good number of credit cards to have is 2, in
  addition to a home mortgage and a car loan. There
  are two different types of credit cards that you
  can get started with, one is a secured credit
  card and other is unsecured credit card. The
  secured credit card is where a lender or a bank
  will take a deposit for the amount and then issue
  you a credit card, usually for less than the
  amount of the deposit. I personally would only go
  to banks that will give a credit limit equal to
  the amount of your deposit.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• The other way is to apply for a credit card that
  works with a direct deposit from your employer.
  The way that works is when you have your salary
  directly deposited to the institution they will
  issue a credit card, instead of a debit card.
  Every time you use the credit card, even though
  the money is being taken out of your account, it
  is reflected as a credit transaction and it is
  reported to the credit bureaus and reflects on
  your credit report. It is a good way to get
  started. Here is an Unsecured Credit Card that
  would provide you that type of program.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• One important thing to remember, which is
  unfortunate, is that a lot of businesses make
  money from people who are not able to manage
  their finances well. Think about it, who pays the
  most and at the same time earns or keeps the
  least. If you have bad credit, you are going to
  pay a higher interest rates than people who have
  excellent credit. When you are suffering with bad
  credit you may have to use the services of a
  company that can help you establish your credit,
  you may have to file a bankruptcy, do a loan
  modifications, pay higher interest rate on car
  loans, insurance rates, mortgage interests etc.
  You see where I am heading life is going to cost
  you more.

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A Bad Credit Report Could Cost You a JOB! Credit
Repair Tips

• I hope all this information was helpful and
  useful to you at the same time.
• NOTE Get your credit report and score improved.
  Use one of the Best Financial Education
  Services company in the market.
•  
• Ashwini Jindal is a Credit Repair Consultant
  with Financial Education Services and has been
  helping his clients improve their credit scores
  from the low 500s to high 700s. Visit for further
  information.

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Contact For Free Consultation

• Ashwini Jindal
• Credit Repair Consultant
• Email AJEasyCredit_at_Gmail.com
• Phone [phone]
• Website Http//CreditRepair.AshwiniJindal.com