There are numerous traditional reasons a company might check an individual’s credit. You might be trying to buy a car or a house or open a new credit card. But recently, it’s become much more common to check an individual’s credit at another important turn in life – a job interview. More and more in today’s job searches, employers are conducting extensive background checks of potential employees, many of which include full credit reports. Increasingly, your credit is becoming public knowledge, not private. Can you imagine working your entire career to rise the ranks in the corporate world only to be denied your dream job because you forgot to pay your GAP bill? It could happen to you.
For this, and so many other reasons, keeping a close eye on your credit report is imperative. And if you do have issues, being able to explain them easily to potential employers is key to the process. When I went through a divorce in 2008, my ex-husband and I were unfortunately unable to refinance our home in his name alone. Therefore, four years later, my credit report still shows that I own a home in Minnesota. I don’t. My name is no longer on the deed and my financially responsible ex-husband has never had a late payment. But I’m aware that this blip on my credit report could bring up questions – does she really live in Illinois? Does she make irresponsible financial decisions? It was in my best interests to explain it prior to any company running a credit check.
It’s a best practice to run a free credit report at least twice a year. I run mine three times a year with each of the major credit reporting agencies, Equifax, TransUnion, and Experian. Use AnnualCreditReport.com and you’ll find the easiest free ways to pull your report.
About the Author: Marcy Twete
Marcy Twete is the Founder and CEO of Career Girl Network and the author of the book “You Know Everybody! A Career Girl’s Guide to Building a Network That Works.” At Career Girl Network, Marcy provides women with information, resources, and networking to empower them in their careers and to advance the work of women in business as a whole. Prior to launching Career Girl Network, Marcy worked in numerous nonprofit organizations and as a consultant in the field of nonprofit fundraising, marketing, and community relations. Marcy is a graduate of the College of St. Benedict in St. Joseph, Minnesota, and a native of rural North Dakota. She is the Vice Chair of the Chicago Board of Directors for Step Up Women’s Network in Chicago and a member of the Advisory Board for Girls on the Run Twin Cities, and is dedicated to advancing the work of organizations that move the needle for women and girls worldwide.
Super important to be on top of your credit…as in addition to potential employers, landlords are checking…insurance companies are checking…so lots of things are impacted by your credit score….
using http://www.annualcreditreport.com you are able to pull a copy of your report from each of the 3 bureaus once a year….if you want the FICO score you will have to pay for it.