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Credit and Your Job Interview Preparation

Looking for tips to help you with your job interview preparation? Guest Blogger Philip Tirone, author of 7 Steps to a 720 Credit Score, says you should be prepared to talk about your credit score!

A recent report from Inc. Magazine says at that at least 60 percent of employers run credit checks on potential job applicants at least some of the time. This is a 17 percent increase from 2006.

And given the high unemployment rate, this is particularly concerning for those people who are beginning job interview preparation but have low credit scores. With a much bigger pool of candidates to choose from, employers can narrow the pool of qualified candidates by looking at a job applicant’s credit score. Fearful that a poor credit score is a sign of irresponsibility, an employer might not offer a job to a candidate with bad credit.

This means that job applicants may be hit with a double dose of trouble. Not only are they out of work, but they also are unable to make regular payments on mounting mortgage and credit card bills, which is causing their credit score to plummet. Since many employers are making credit checks a mandatory condition of employment, job applicants with bad credit may find themselves stuck in a vicious cycle: No job translates to no ability to pay bills, which in turn causes poor credit, which means a person might be ineligible for jobs.

If you have poor credit and are beginning the process of job interview preparation, your best bet is to be candid with possible employers and let them know about your experience with credit. Since the recession has had unfortunate consequences for many people, the employer might be sympathetic to your plight. Pitch your situation as a learning experience so that you can show the employer that you are ready to move on from your mistakes.

Remember that an important part of job interview preparation is knowing how to handle uncomfortable situations. If the interviewer wants to run your credit score, simply be upfront. Explain that you have started the process of learning how to build credit repair to minimize damage and improve your credit score.

By taking serious steps to repair your credit, your credit report might indicate that you have had a shift in the positive direction. If you walk into a job interview armed with a the facts about your credit score, how you have turned over a new leaf, and what your credit report indicates about your current behavior, a potential employer might be sympathetic, especially if you have extenuating circumstances brought on by the recession.

Though credit checks for job applicants might create barriers in the already-tight job market, employers are also likely to value an honest account of your situation. As part of your job interview preparation, be sure you are ready to be forthright about your past mistakes and able to offer evidence of your progress. In doing so, you allow employers to look past that three-digit number and offer you the job.