Bad Credit And How It Effects Your Job Prospects

Believe it or not, the way you handle your money can have a big impact on your future. You might wonder what credit scores have to do with landing your dream job, right?

Well, in many industries, especially those in finance or management, employers check your credit history as a part of the hiring process. Poor credit can actually keep you from getting certain jobs and might even block your path to management roles.

So, let’s dive into why building and maintaining good credit is not just about credit cards and loans—it’s about securing the career you want and opening doors to opportunities down the line.

Having good credit will not only let you enjoy low interest rates and  easy approvals from lenders.   Your personal credit history plays a crucial role in getting an employment. If you’re a student in college, have you thought about building your credit history? If you haven’t considered it yet, it’s about time to start thinking about your future employment.

How Your Credit History Can Affect Your Job Choice

In the corporate world, companies and employers check individual credit reports before hiring a worker. Yes, it’s not just about good academic grades and training. Your credit status can also make or break your future in a respected company.

This is not only applicable for executive job levels. Even regular jobs now require good credit. In fact, a survey conducted by Harris Interactive for Spherion Corporation (a recruiting firm) reveals that more and more employers today screen their applicants based on their credit history. Statistics show a 55% increase in the number of employers who inquire credit reports.

Can a bad credit score really affect your reputation? Apparently, a history of unpaid charges, late payments or too many credit cards with existing balances can send negative impressive to prospective employers.

Think about this, if you were the owner or the manager of a company, would you be confident to hire a person with bad credit? Or would you have doubts about this person’s sense of responsibility? Wouldn’t you want to know the reason why this person seems to have problems in managing his own finances? Would you be confident to entrust company tasks to someone who doesn’t seem capable of handling repayment obligations to creditors?

With so many people looking for a job, it may be difficult to compete with others who can present good grades, college diploma and a high credit score. Having a good credit rating would surely give you the advantage you need over other job applicants.

Clearly, building an early credit history and maintaining a good credit standing can make a big difference in your search for employment. By the time you need to get a car loan, a mortgage or a credit card, a solid credit history can give you the break you need.

 

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Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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