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How a poor credit score affects your career prospects

Your credit score is like your financial report card. It displays your money managing skills. If you thought that by getting a new job, you will be able to improve your credit score, you are highly mistaken. In fact a bad credit score can hamper your chances of getting a new job.

According to a survey, a majority of employers believe in the importance of handing personal finance by their employees. Inability to do so makes them incapable to handle important official projects. Most of the employers these days are checking the credit reports of the prospective employees to get an insight into their financial background. Wondering about the reasons for this? Read on to know some of them:

1. Depicts lack of financial responsibility: If an employee has a poor credit history, he must be irresponsible in making payments of loans and credit cards on time. Such and employee may get tempted to misappropriate the organization’s funds to pay off his debts. Even if this is not the case, it may cause some unneeded financial uneasiness in the organization.

2. Accountability for the job: Every employee is responsible for his job and his inability to handle his finances will impact his trust ability to be completely accountable for his work. This may also result in missing deadlines and thus the delay of project. He may also fail to wrap up the work in the allotted budget and cause financial losses to the organization in terms of increased costs. His every decision will be eyed with suspicion.

Tip: A candidate who is under financial criticalities can’t deliver his best to his job.

3. Can’t handle overseas operations: Even if the employee is well qualified and trained, he can’t be sent for overseas operations owing to his negative credit history. This is because the airport authorities view them with a potential threat to the national security and reject the applications of candidates who have an overdue exceeding $5000. The reason for such attitude of security agency stems for the very nature of the human being that he may resort to crimes and illegal activities to increase their finance flow.

4. Inappropriate for fiance related profiles: Finance related profiles require a greater in depth verification of the employees’ background. This will also include police verification of family background and a proper financial check. Any previous instance of mishandling finances will be detected by this check and proper steps can be taken to avoid any misappropriation of funds by such employees.

Tip: Even if you have just stated working, ensure that you pay your credit card bills well in time.

Going by all these reasons, it is advisable for all fresh graduates and already working professionals to maintain a good credit history to ensure that your career moves on the right track. And don’t forget to take your credit report for the next interview that you are going to appear.

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