You might be in the process of applying for a new job. If so, you have probably updated your resume, lined up your references, and maybe even checked that there are no red flags on your social media accounts.
But have you thought about a potential credit check? There are a bunch of reasons that a potential employer might decide to look into this as a part of their application process.
Here are some of the things that your credit report says about you as a potential employee:
If you are responsible and organized
Do you regularly make payments on time or are you consistently late? This could be an important insight if an employer is looking for someone who can manage projects and deliver results according to schedule. After all, when it comes to construction, time is money. To some extent, your credit report will let a potential employer know whether or not you would be a dependable employee.
If you are good at planning and budgeting
Of course, there are always unexpected expenses that can come up. This is true in both our personal and professional lives. If someone has problems saving money and is consistently falling into debt, then it might tell a prospective employer that they would not be particularly good at projecting costs for projects and may not be able to deliver projects within a set budget.
If you can be trusted on the job
There are also some companies who believe that a candidate who is in good financial standing will be less likely to skim off the top, so to speak. Someone who is struggling with their personal finances may be more of a risk for stealing company materials. This could be a particular concern for an employer who is looking for someone to work on job sites or handle orders and invoicing.
So, should you worry?
There are many companies that do not even perform credit checks nowadays. And often times, those that do are primarily looking to verify your identity – they are more concerned with ensuring that you are who you say you are than where your credit score happens to fall.
Also, remember that before a credit score can be checked, you will need to give the company written permission to do so. This means that you’ll know it’s coming, so there’s no reason to start worrying right away. And, if you do have a less-than-stellar credit score, it might be a good idea to address during the application process. This gives you control over the situation and allows you to provide additional context.