More and more employers are weighing job candidates based on their credit report -- even though it's no indicator of what kind of employee someone will be!
This is a practice that started and should have ended with bank tellers and cashiers at retail stores -- basically, people who touch money every day. But now so many businesses check credit reports without thinking it through. In fact, your application often gives them permission to pull your credit.
The real problem is that many credit reports have errors. Public Interest Research Group estimates that close to one-third of reports contain serious errors that can cost you a job offer or prevent you from getting new credit.
This is yet another reason why you should visit
AnnualCreditReport.com to pull one of your three credit reports every four months. Remember, you have a credit report from each of the three main credit bureaus -- Equifax, Experian and TransUnion.
Paying off any small nagging debts will immediately help your credit. But if you have errors, be sure to challenge them. When you challenge an error, it temporarily removes it for 30 days. Contact the alleged creditor by phone and in writing to dispute the debt. They're liable for putting false info on your report if you can demonstrate financial harm, such as the loss of a job offer.
