How to Land a Job When Your Credit Stinks |
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by: Janna Weiss
With unemployment and credit card defaults as high as they are, it seems like a terrible time for employers to screen candidates’ credit histories. But more employers are doing just that. If you really need a job but have a problematic credit report, here are some strategies that might mean the difference between gaining employment and spending many more months in job-hunting tedium.
Be the First to Mention It
Don’t go through ninety percent of the hiring process, only to be shut out at the last minute because of dings on your credit report. Potential employers will resent having to go through all the trouble of interviewing and running checks, only to find that you don’t meet their credit standards. To maximize your chance of landing the job, tell the employer that you’re aware of some problems with your credit, but that you’re in the process of repairing them.
Be Open and Honest
The employer will want to know what steps you’re taking to repair your credit. Let them know everything you’ve done so far, including refinancing and paying down your credit cards. Be prepared to provide documentation. The idea is to let the employer know you’re not trying to hide anything. Bring your own copy of your credit report to the interview to show that you’re doing everything you can to comply with the company’s rules.
Choose Smaller Companies
Small companies are more likely to cut you some slack over items on your credit report. If you can, try to develop some rapport with your interviewer. Once you’re both at ease, bring up the topic of credit checks and let them know you want to save them time and trouble by discussing a few items up front. Then produce your report and explain the problems. There’s no need to divulge personal details about an illness that left you in dire straits, but do let the employer know that your negative credit items weren’t due to financial mismanagement. (Unless they were due to financial mismanagement, in which case it’s best to stay vague and move on.)
Bad credit will earn you a bad reputation, whether or not its deserved. This is unfortunate, as the rates of credit card default and unemployment continue to rise. Speak frankly with your potential employers. Let them know that you acknowledge the problems on your credit report, and that you’re willing to fix them. This tactic won’t work with every company, but it might convince a sympathetic hiring manager to bend the rules. Good luck!
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