Applying for employment can hurt your credit rating??

[A1cntrler]

All this week I am taking a Transition Assistance Program (TAP) as I am about to get out of the military (Start my terminal leave next week). I have been dropping my resume and filling out applications all over town. Yesterday in class they told us that we should not put in applications/resumes except where we really want to work/will likely get hired on, as it adverseley hurts your credit rating. I think this whole credit rating thigs has gotten out of hand. I can't even apply for jobs now without there being an inquiry on my credit. I do not have a problem with them looking at my credit for a job, as it is a good measure of how you conduct yourself, however, negatively impacting your credit for applying for a job?? They did say that even car shopping hurts your credit. As long as you do all of your shopping within 30-45 days, then it only shows up as one hit on your credit. The same doesn't apply for job hunting however. My wife is now worried that I won't get hired on somewhere because there are so many hits on there from them checking my credit. Also just found out yesterday that Cox Communications (Local Ccable company) checks everyone's credit once a month, but it is a "soft hit" and doesn't impact the rating too much. Just looking for clarification, if someone out there knows anything about this. These classes are typically there to "scare" you into staying in the military ("You make X dollars in the military---you would need to make XXXX dollars when you get out to maintain the quality of life you and your family live now")

 

[Todd Z]

Yup,

ANY time some one checks your credit it shows up, Even when you change insurance companies, they check it. Then the credit rating companies see how many times some one checked your credit and drop thew score......

I just cant believe that employers are allowed to check that now a days, BUT everyone is protecting them selves more and more..



HECK even here where people rent out illegal apartments they put on the flier that the person must pay them to run a credit check..... :lol:

Todd Z

 

[matt thalken]

1 or 2 of the agencies have stopped factoring this into your rating more recently as people are starting to check your credit for looking at them .... Kind of an old rule

 

[FL ST]

Most employers do check credit scores now. You'd have to put out atleast 200 applications and have all 200 of those employers check your score. Even then does it only affect your score for about 3 months. They're called "soft-hits" meaning they're just inquires.



The junk-mail you get from Discover, AMEX, this company, that company saying you're pre-qualified; these companies have also checked your credit score. You can go into Experian or Equifax or TansUnion and get your score for like $14 and somehow set up a password so that people who check scores you have to give them that password to check so you have fewer "soft-hits".

 

[Marc Mulhern]

as Greg M. mentioned, they are 'soft hits' and do not affect your credit. Also, we don't look at credit scores for every person that applies for a position. We, the HR group, only submit them when we have extended an offer and intend on bringing the person on board. The cost is too much to run them for every person.



Marc

 

[Jeff Geist]

To piggyback off of Marc, companies should supply you with some sort of release form allowing them to check your credit. Just handing in an application shouldn't trigger a credit check (unless they put it in their application). I was in recruiting for quite some time and we would check the credit scores of employees when hired. Think about it this way...do you want the person handling the companies finances or payroll to have a bad credit score. I wouldn't. Like Marc said...it should only happen if you are getting hired. It costs too much to check the credit score of every applicant.

 

[Mark Grumpy]

A1,

your TAP folks need to get more training. An inquiry alone, such as car "shopping", not buying, or employer inquiries do NOT affect your rating. It's the same as all those credit card offers you get in the mail, every one of those has hit your report too. All those refinance offers you get on your home loan too.



Then again, maybe they (TAP) are throwing a scare tactic at you.



grump

 

[WXMotorSports DecalsPartsAccs]

Generally, they are checking once they consider you for the position. I've known applicants that were passed over because of their credit score. And, too many inquiries does effect your score.

 

[Thomas Rogers]

A1, sounds like you were given bogus info, and since this transition assistance program is paid for by you, and me (and more importantly supposed to help YOU), I suggest you lodge a complaint with whomever will listen.



These transition and retraining companies are often not that stellar. I had a contract designing the computer systems for one such company that worked as an outsource placement and transition firm...and frankly, they took some perverse delight in having no real respect for, and actually a certain amount of contempt for the people they serviced.



I am not saying it's that bad for you A1...just saying that when it comes to services, we typically get what we expect and sometimes expectations have to be raised.



TJR

 

[Richard L]

Simple solution. Don't give the potential employer your SSN, nor do not authorize them to do credit checks unless you are in the final group of candidates.



My resume does not include my SSN so they cannot and usually will not go through the trouble of doing a credit check, calling references unless you are one of 2 or 3 candidates they are serious about hiring.



If the application asked for your SSN, I put in available upon requirest. If they ask why it was left blank I tell them that they do not need my SSN unless they are serious about hiring me. I have sighted the current problems with Identity Theft as to why I do not expose my SSN until it is absolutely necessary. I have never had anyone object.



...Rich

 

[A1cntrler]

They say that the class is paid for by the department of labor. Yes, smem of the applications I have filled out do have a disclaimer in there to run your credit (You muct verify that you have read it by entering the last 4 or your SSN) I'm goign to look into that password to access your credit report Greg.

 

[Rodger Tellefson]

Thanks you everyone for the Great info.



I think what TJR is referring to is that the class is paid for essentially by our tax dollars no matter which pot it comes out of.

 

[Thomas Rogers]

Yeah, Rodger, that's what I meant.

 

[Thomas Rogers]

^^ BUMP ^^



I was denied credit last week. Our credit score is over 800, probably still is, but was denied credit by a finance company for "Rooms Today" when I applied for their "6 months same as cash" plan.



Just got the notice with reason in the mail the other day, and it was listed as:

Number of recent inquiries on credit bureau report.

So, yes, having too many recent credit report inquiries can get you denied for credit.



We have purchased two new cars, obtained a home equity loan and applied for student loans for my wife all in the past 5 months. That probably did it.



Oh, and "Rooms Today" *TOTALLY* ticked me off with a bait and switch on the price...to the tune of over $300 more than the salesrep first indicated. So, it looks like Ikea for a bedroom set for our growing son. Knobs!



TJR

 

[WXMotorSports DecalsPartsAccs]

LOL what is wrong with Ikea?

 

[Thomas Rogers]

SST,



The "Knobs" comment was meant for the a$$clowns at "Rooms Today."



Ikea can beat their price, has better quality stuff, (though I have to put it together), and I don't get hassled by lying sales guys.



TJR

 

[Jeffrey Travis]

TJR - Ikea stuff is easy to put together. It was one of the few things on my long list of things to do in a new house that did not involve bloody knuckles, swearing and about 3 weeks in duration.



bed, bedside table, bureau and bookshelf around $700-$800.



Biggest problem was the day we went the ST said 115 degrees -

 

[Thomas Rogers]

Travis,



I'm a big fan of Ikea....have 4 Billy shelves in the basement. Always good stuff, pieces fit together, never any extra drilling, always quality and strong.



TJR