Did You Know: Employers Checking Your Credit Score Before Hiring

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Nowadays, though it may sound as something new as a criterion of hiring, companies majorly from the financial services and IT domain are seeking your credit profile first. As employers in case of a weak score are refusing the offer made on the prima-facie that if the individual is burdened with debt he or she shall not be able to give his 100% on his job.

    Did You Know: Employers Checking Your Credit Score Before Hiring

    This is as per the study by Society for Human Resource Management and reveals that 60% employers are pulling the credit report of current and potential employees. So, this new practice makes all the more necessary for you to constantly track and review your CIBIL statement and report any wrong statements made and get them rectified from the relevant authorities.

    It is to be noted that this check is made as part of the background screening done by the employer and checks for the economic and financial stability of the concerned.

    How employees can ensure that they do not lose job due to bad credit report?

    Repayment history information list all the current and missed credit payments and this can be reviewed by the potential employer to check your credit history. So, you can on a regular basis track this. Also, if there is any wrong reporting made to the CIBIL that can impact your report negatively, do make it a point to get it rectified at the earliest.

    Goodreturns.in

    Story first published: Thursday, April 26, 2018, 13:52 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more