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Credit Score News, Tips & Advice « Credit Scores > Credit Score News > Increasing Bills, Bad Credit Scores And No Jobs All Go Hand In Hand

Increasing Bills, Bad Credit Scores And No Jobs All Go Hand In Hand

By Sally Maison
Published: Monday, April 12th, 2010

CULTRF-00007892-001Poor credit scores, as bills were not paid, additional loans availed, high credit card debt are now reasons for one not finding that ideal job. This concept has caused uproar in the country, wondering why employers have to look at one credit rating to gauge the competency of an employee. Many applying for jobs especially after the economic crisis have been rejected by employers not based on the experience they have, or the work principles or even their level of competency. They have been rejected on the basis of bad credit scores.

A few critics are in the opinion that this increasing trend of unemployed individuals due to poor credit scores result in deserving candidates not being hired for the job. Job seekers already are burdened with a list of features to live up to and prove their capability at an interview, the credit scores and rating as they have negative credit loans only adds to worsen this burden and makes it very difficult for one to find a job.

Many believe bad or poor credit scores have very little to do with an individual’s capability to perform and meet targets on the job, however many employers believe individuals with a good credit rating show responsibility and ethics and tend to comply to the norms and objective of the job profile, while the ones with a poor credit score lack these qualities.

A news report in Baltimore Sun reads more than 15 state legislators would like a bill to have employers avoid using credit scores to hire an employee. Other news reports from New York Times to Wall Street Journal show the irrelevance of employers looking at credit scores and rejecting job seekers who ideally need to be hired to help improve their financial status and their credit scores.

The question here is do individuals who pay their bills late, default on loan payments, and have huge credit card bills just casually trying to make ends meet and scrambling through their economic status? To which the answer is true as companies out to hire individuals look at their credit score and easily stereotype them as individuals that lack a sense of responsibility. So an impressive interview with the employers proving one’s skills is not good enough one must have an impressive credit report as well. 

The brighter side to this is for individuals to focus on looking at their credit score and work towards maintaining it or improving it. This can be a time consuming task where the effort is more and the results can only be seen over period of time. Making an impressive credit score as for today can go a long way.

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