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How do you Explain Negative Credit History to a Prospective Employer?

Submitted by editor on Fri, 11/24/2006 - 10:31am.

In theses days of increased security, more and more employers are digging deeper and meticulously screening the backgrounds of their potential employees. Prospective employers don’t just do background checks to make sure that you are not a criminal, they also check on your creditworthiness. More and more employers are setting a standard credit score that is an important factor in determining whether you will get a job with their company. Employers might even turn you down for a job after a credit check, even though you did well in each round of the interview process and you were told that you would get the job. Even if they do not turn you down outright, they will most likely question your poor credit. How do you respond to your potential employer’s questions about bad credit?

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dex2style | Thu, 03/01/2007 - 1:48pm

The best thing to do is just be honest. If someone stole your identity or you went a little credit card crazy in college, just honestly tell them what happened. They will probably appreciate it and still consider you for the job regardless of your credit history. They know that the only way to erase bad credit is by being financially responsible- something that is hard to do without a job. They might be a little hesitant to give you an expense account or a company card, though.

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