I recently heard a somewhat disturbing story about a woman who applied for a call center job in Connecticut - she had all the proper qualifications including past experience and the proper skill sets - but she was turned down because of her bad credit score. This wasn't a job at a financial services company or bank, either - actually it was at an ecommerce company.
In fact, I've heard quite a few stories lately about people being turned down for jobs because their credit is less than stellar. It seems employers are increasingly doing credit checks as part of their background checks on employees. I can see doing it for sales reps at an insurance company, bank or financial services firm - but for a $10-an-hour call center agent position at an ecommerce company? Wow.
There was another article today in the New York Times about a man who had worked hard and overcome great odds to get through law school and earn his law degree -- he even passed the bar exam -- only to be declined for a job due to the amount of student loan debt he had. Talk about irony.
I think this is reaching the point of utter ridiculousness: If people can't get decent jobs because of their credit reports, then how will they ever get out of debt, and how will we ever get this economy turned around? A few years ago, when companies were starting to do these credit checks more frequently, it seemed like only high paying jobs with lots of responsibility were the ones where your credit score was a factor the hiring process. Now that the unemployment has skyrocketed, it appears that even low paying jobs -- at big box stores, supermarkets, restaurants, gas stations, etc. -- are requiring background checks that include a peak at the applicant's credit picture as well. Considering that, in general, Americans' credit scores are currently getting worse, as opposed to getting better, it seems this is a topic that might warrant some attention - maybe even some revisions in the laws that apply to such background checks.
I suppose there are legitimate reasons why employers don't want to hire people with credit problems - it's an issue of trust, and I do believe that the way you handle money is a reflection of how responsible you are. But then again, this is basically a new form of discrimination that's entirely legal, and I'm not sure I agree with it.
In fact, I've heard quite a few stories lately about people being turned down for jobs because their credit is less than stellar. It seems employers are increasingly doing credit checks as part of their background checks on employees. I can see doing it for sales reps at an insurance company, bank or financial services firm - but for a $10-an-hour call center agent position at an ecommerce company? Wow.
There was another article today in the New York Times about a man who had worked hard and overcome great odds to get through law school and earn his law degree -- he even passed the bar exam -- only to be declined for a job due to the amount of student loan debt he had. Talk about irony.
I think this is reaching the point of utter ridiculousness: If people can't get decent jobs because of their credit reports, then how will they ever get out of debt, and how will we ever get this economy turned around? A few years ago, when companies were starting to do these credit checks more frequently, it seemed like only high paying jobs with lots of responsibility were the ones where your credit score was a factor the hiring process. Now that the unemployment has skyrocketed, it appears that even low paying jobs -- at big box stores, supermarkets, restaurants, gas stations, etc. -- are requiring background checks that include a peak at the applicant's credit picture as well. Considering that, in general, Americans' credit scores are currently getting worse, as opposed to getting better, it seems this is a topic that might warrant some attention - maybe even some revisions in the laws that apply to such background checks.
I suppose there are legitimate reasons why employers don't want to hire people with credit problems - it's an issue of trust, and I do believe that the way you handle money is a reflection of how responsible you are. But then again, this is basically a new form of discrimination that's entirely legal, and I'm not sure I agree with it.
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