Newest Job Qualification — A Good Credit History

Alien54 writes quotes an article from The Day that says "In the past, only banks and financial service companies routinely ran credit checks on potential employees. But employers in other sectors increasingly are including [credit checks] in the screening process to assess applicants' honesty and integrity, traits not readily gleaned from a résumé. US employers' use of credit checks increased 55 percent over the last five years, according to Spherion, a recruitment and staffing firm with offices around the country.... "The credit check has become a general measure of responsibility and organization," said industrial psychologist Carl Greenberg, senior vice president of Spherion. "If you cannot organize your finances, how are you going to responsibly organize yourself for a company? Organization is a measure of responsibility."

Comments

Re:Little Suzy.

[ergo98]

Question to thread: Please post information about these "trade secrets" and "magic". It would be interesting to see real, cited references.

You write that in what appears a sarcastic tone, implying doubt about my "statements". Yet these machinations of the credit industry are hardly hidden - a one-second google search yielded http://www.privacyrights.org/fs/fs6c-CreditScores. htm.

This yields nugglets such as-

The exact formula of the FICO and other scoring models is a trade secret

Points are given or taken away based on the amount of available credit used. Certainly, using the maximum amount on your credit card and paying only the minimum each month can lower your score. But, using a large percentage of your available credit each month, even when you pay the bills faithfully, can detract points if you are carrying a high balance at the time your credit history is scored.

...and so on.