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Bad Credit Can Effect Your Employment

Why do employers run a credit check?

These days its not enough to have the qualifications, experience or knowledge in some cases employers are looking at your credit history.
Credit checks of this kind are generally for high level professionals and those who work within the financial industry, however your credit history could be the difference if it is down to just 2 candidates.

Why would my credit history be of interest to an employer?

Law and finance companies are legally required to perform credit checks, however other companies may ask your permission to run a check. By doing a credit check they are able to ensure that you are who you say you are, they can also see your track record of managing your finances. If you are in serious debt this could influence your behaviour and how you concentrate at work. A credit check will also tell a potential employer if you could be a risk at handling finances for the company.

Company car leasing with bad credit

If I have a bad credit report can I be declined a job?

In a word yes. If the employer feels that you run a risk due to what they have seen in your credit history then they could refuse you as a candidate. In the same token if it is down to only a few candidates for a position then it could be the one with the strongest credit score that gets the job. The good news is if an employer does a credit check on you, this should not have a negative impact on your credit score, where as if a financial credit check is carried out it will.

What type of credit searches are there?

There are two types of credit searches-

  • Soft searches - these are not visible to companies, only by you and they do not effect your credit score. So if an employer does a search it should be a soft search.
  • Hard searches - these searches are done when you are applying for credit, this will be visible to other companies and could damage your credit score.

What happens if I get a job and have bad credit but need a company car?

Simply apply to Ultracar, we specialise in customers who have a bad credit score for whatever reason. With Ultracar you can lease a car with a bad credit score, you just need to prove you are who you say you are and prove that you can comfortably afford the monthly leasing payments.

Get in touch with us today and let us help you!