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2007-10-01 01:34:07

Credit Card Deals Speak Volumes about Potential Employees

We live in the times of figures and numbers, when some plastic thing can give all the gen about your life and financial state. The days of stalwart knights and fair ladies are gone. And now our reputation depends on our IQ, SAT results and even credit card scores. Our credit card deals leave the mark on our credit history, and therefore on our well-being. It's clear as day, why lenders and auto-finance firms not to mention credit card companies require our credit card score. And what about employers? Why do they find credit card deals of potential employees so important?

A survey released by Visa has shown that 80 percent of American employees have no clue about such sophisticated requirements of employers as credit report information. The question is: Does it mean that your credit experience has almost the same value for your boss as your work experience? Yes, in some cases.

First of all, credit card information may be of interest to those employers, who hire you for some finance related position. It shows your ability to handle money, and if you have heavy debts, an employer will have a low opinion about your financial skills. So, your credit card deals are very significant for potential bosses.

Still, employers shouldn't think that credit reports of their workers are up for grabs. In other words, it won't include information that is not required by federal hiring laws, i.e. your birth date and your marital status. To protect you from identity fraud, these reports will also exclude your accounts numbers.

Probably, the most vulnerable group will be job-hunters. The point is that the majority of job applicants are students or grads. And according to the survey, about 42 percent of youth folk over 18 have never checked their credit scores. They won't think too much about their numerous credit cards until they face real problems with debts.

Everyone has heard a lot about typical credit mistakes of students. Just imagine what a shock it will be for them to know that your employer will estimate your professional skills by your credit report. On the one hand, it's a good motivation to take control of your plastics. On the other, it seems unfair. What are you to do if you have no credit history? Does it necessarily mean that you cannot handle money? Certainly not.

Financial experts and representatives of credit card bureaus assure there is nothing to worry about. Nowadays this tendency is not so widespread. Very few employers make a request for credit scores of job applicants. Moreover, credit reports were designed for convenience of lenders but not employers.

Anyway, checking your credit score is essential for the simple reason of rationality. This simple procedure can help you to avoid lots of unexpected problems in the future. Generally, your close attention to credit card deals won't do any harm. Besides, your credit score is still valuable and essential for getting a mortgage, car loans, and best credit card offers.

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