Lauren Smith, WalletHub Staff Writer
@laurenellesmith
There is no minimum credit score for a job. Employers do not even have access to your score but some may check your credit history as part of the hiring process, especially if the job involves financial responsibilities or access to sensitive information.
Employers are most likely to check your credit when you apply for positions in banking, finance, or government. Late payments or high credit card balances could be an indicator of financial duress and may signal to an employer that you’re more likely to commit fraud or theft. However, there are certain regulations employers must follow if they check your credit.
You Have Rights When an Employer Checks Your Credit
If an employer requests to check your credit history, they must follow the rules outlined in the Fair Credit Reporting Act (FCRA). Under the FCRA, employers have to obtain your written consent before checking your credit and inform you if they take adverse action based on your credit history, such as not hiring you. They also need to provide you with a copy of the credit report they used.
Some States Limit Employer Credit Checks
You can be denied a job because of your credit in 39 states. On the other hand, the following 11 states generally outlaw the practice:
- California
- Colorado
- Connecticut
- Delaware
- Hawaii
- Illinois
- Maryland
- Nevada
- Oregon
- Vermont
- Washington
Even those 11 states have exceptions, though. A common exception is checking your credit for jobs at financial institutions or that involve handling money. Employers in these states can also check credit late in the hiring process, such as after an interview.
Employers Consider Factors Other Than Your Credit
Your credit is not the only consideration for an employer making a hiring decision, and a poor credit history does not necessarily disqualify you from getting a job. However, having a good credit history can demonstrate that you are responsible and financially stable.
You can check your credit report and get personalized-credit improvement tips for free here at WalletHub.
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