Credit Advice

Why late payments can keep you from getting a job


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Credit Advice

Why late payments can keep you from getting a job

Dear Experian,

I applied for a teller position at a bank. I was turned down. They said it had to do with a delinquency on my credit report. Why can they turn you down for a past delinquency?


Dear LAD,

Many businesses review credit histories as part of the job application process, particularly for jobs that require money handling or money management.

The first issue is that if a person cannot manage their own finances well, there is a greater likelihood they will not be able to manage the company’s finances well. Further, people with financial difficulties represent a higher risk of mishandling the company’s finances. To put it directly, if a person is having difficulty paying their bills, they may have a greater temptation to steal money from the company.

A credit report is only one factor considered, but in a highly competitive job market, a single late payment can make the difference between you and another job applicant.

I suggest you get a copy of your credit report and a credit score report, such as your VantageScore.

The score will give you a good idea of your overall creditworthiness and how lenders – and employers – will view your credit history. The risk factors provided with the score will give you the insight you need to improve your credit history and as a result, your credit score and your chances for landing the next job for which you apply.

Thanks for asking.

- The "Ask Experian" team

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