Will Credit Check Hurt His Job Offer?


JS writes:
My new prospective employer has already made me a job offer which I have
accepted. They have provided the offer letter to me that states it is contingent
upon successful completion of the background checks which include criminal drug and credit history. I am only concerned about the credit history because
my wife and I filed bankruptcy and had our house foreclosed on recently.
What are the chances of them checking my credit? If they do check my credit
what are the chances of them retracting their offer due to my credit?
It is a financial institution which I have heard is typically more concerned
with prospective employees’ credit reports.



The Career Doctor responds:
It’s certainly true that many employers have become more diligent about
performing reference and background checks of prospective employees
but that doesn’t mean that you are going to have this job offer rescinded.
I understand that a financial institution may be more cautious of hiring
employees that have a checkered financial past but given the number of
U.S. households that have declared bankruptcy over the past few years
coupled with no real data that shows some connection between financial stability and on-the-job success I have reservations with employers using
credit checks.
The bigger question I believe is if the employer asked you anything such
as “we’re not going to find anything when we do these background checks
are we?” and if you replied in a not-so-honest manner. Then the issue is not
so much your lack of personal financial worthiness but your honesty and trustworthiness — much bigger issues to employers. So while you never want
to raise negative issues in job interviews you also need to be prepared to
deal with such negatives if the employer asks a direct question.
As long as you were completely honest in the interview then sit tight and think
positive thoughts. Many employers ask for references and say they will perform
background checks but most are not nearly as thorough as you might think.
Get more help with job interviews in the Guide
Job Interviewing Resources
section of Quintessential Careers.

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JS writes:
My new prospective employer has already made me a job offer which I have
accepted. They have provided the offer letter to me that states it is contingent
upon successful completion of the background checks which include criminal drug and credit history. I am only concerned about the credit history because
my wife and I filed bankruptcy and had our house foreclosed on recently.
What are the chances of them checking my credit? If they do check my credit
what are the chances of them retracting their offer due to my credit?
It is a financial institution which I have heard is typically more concerned
with prospective employees’ credit reports.



The Career Doctor responds:
It’s certainly true that many employers have become more diligent about
performing reference and background checks of prospective employees
but that doesn’t mean that you are going to have this job offer rescinded.
I understand that a financial institution may be more cautious of hiring
employees that have a checkered financial past but given the number of
U.S. households that have declared bankruptcy over the past few years
coupled with no real data that shows some connection between financial stability and on-the-job success I have reservations with employers using
credit checks.
The bigger question I believe is if the employer asked you anything such
as “we’re not going to find anything when we do these background checks
are we?” and if you replied in a not-so-honest manner. Then the issue is not
so much your lack of personal financial worthiness but your honesty and trustworthiness — much bigger issues to employers. So while you never want
to raise negative issues in job interviews you also need to be prepared to
deal with such negatives if the employer asks a direct question.
As long as you were completely honest in the interview then sit tight and think
positive thoughts. Many employers ask for references and say they will perform
background checks but most are not nearly as thorough as you might think.
Get more help with job interviews in the Guide
Job Interviewing Resources
section of Quintessential Careers.