Back Ground Checks

Having a bad credit score could cause you to fail a background check and not get  hired or even cost your job once you are hired.

When applying for a job, the HR department will probably do a background check on you, which could include financial information. Also, once you are employed your finances could still be monitored depending on your position or policy of the company that employees you.

Most people occur problems in their finances due to credit card use. Which could cause you to lose your job, or not to be employed in the first place.

So keep these things in mind when using a credit card.

A.  If you only make minimum payments even though they are on time. It could still effect your score. 30% of your credit score is dependent on your balance.

B. If you pay off a collection you might think that it will be removed from your credit score, which is not true. It will be reported as a closed or paid collection which is a negative item. A collection can be on your credit report for seven years.

C.  Remember some companies use your credit score as a basis to fire you or not to hire you in the first place.

D. Although zero percent offers no interest deals. It is only a deal if you pay your credit card bill on time. If you are one day late with a payment, the rate on your account can jump to over 25% and could affect your credit score.

E.  Your credit can be destroyed through identity theft. Keep this in mind Not only identiy theft common among stranger but also, family members, room mates and others close to them.

F.  Always monitor your credit card balance. Even if it is not your fault a mistake could alter you credit score which could cause you not to be hired or fired once you are employed.