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And how is anyone else supposed to know whether you make your payments on time? Credit shows that you've borrowed money and paid it back with regular payments, and this is assurance that you can be trusted with handling money and that if someone gives you a loan they can see that you aren't likely to stiff them.
Tell me, if you had to loan a large amount of money to one of two random people that you've never met, would you take the one who has evidence of ten years of borrowing money from different places and paying it all back, or the one who says they only pay cash because they don't like owing money?
Credit is biased, and is trying to judge people as if they were machines. Credit companies do NOT account for LIFE situations that will RUIN someone's credit/life. Credit is a bunch of BS, and people should stay away from it like the plague.
To deny employment to someone who needs it is just disgusting, and further ruin their credit/life!
We FAILED as a society miserably. We live to ASSUME the worst about others and that is insanely wrong and rude. The way we treat people based on some computer score that does NOT account for LIFE itself, is shameful and actually quite stupid...but it is continually used to maintain social statuses. Nothing more really. My college degree should NOT dictate what my car insurance should be....however my DRIVING record should dictate what my car insurance should be....AAA guys tells me they have "discounts" for good credit, college degree etc etc...what an a-hole system...It's got to go...
Honestly, I would rather reduce the pool by eliminating those who have no understanding of how people can end up down on their luck. Those are not the kind of people I like to be around.
Amen.
Some of the attitudes expressed in this thread are sickening. Very black-and-white thinking, and very quick to pass judgement.
I'm not a fan of extremes or painting with the broad brush. I suppose the choice of some of the people I mentioned would be going on disability, but then they would likely be hammered for that.
I do acknowledge the freedom to judge everyone based on one experience, regardless of how small minded I find it to be.
Again my point is simply that there is always a way whether people choose to see it or acknowledge it. That's what we have to go on.... our own experiences.
I feel that if more people will put forth the effort required to get ahead in life they will see a lot better outcomes than their current situation. We are becoming a nation of handouts, where everyone wants something for nothing.
As for credit, it sucks to have to use it. But credit scores are (unfortunately) important in today's society. You have to play the game to win. But it's all in how you play it. Again, back to choices.
I knew a lady who lived below her means. She was in a relationship and was a stay at home mom. She thought her and her husband would be together forever. They had savings and lived a decent middle class life. Years later, her and her husband divorced. He took everything. She didn't get a dime and was now broke.
A well off family's son is diagnosed with cancer. Sure the family had savings and insurance. Insurance refused to pay for the boy's treatment which ran well over $100,000. The family had savings, an emergency fund which they used for the boy's medical bills. Mom had to stay home with the boy and quit her job because he was seriously ill. The family now has financial trouble.
A woman is in a car accident and is unable to work for a year. Insurance only pays so much of her bills. Sure she had savings and was prepared for a rainy day. The woman's bills blew her savings within six months. Now she finds herself using credit cards for the first time because she is unable to work.
Sometimes all the preparation in the world doesn't prepare you for life's problems.
This isn't about specific anecdotal examples but aggregate statistics. Most employers will check your credit for jobs involving money. They aren't doing it because they are part of some giant conspiracy or because they just want to be mean, they are doing it because general statistics show one with poor credit is a greater risk. That doesn't mean any particular individual will be a problem. It's about likelihood. They aren't going to try to divine the inner truth of an individual's circumstances because most people with poor credit have a sob story. Some of them are real, some of them are not.
Oh yes I know that store well. My wallet is a Coach. My wife has a collection of them. By the way we pay cash for them so no credit is needed.
So if you don't need credit to purchase them, why do you think a Coach employee must have good credit? That sounds rather hypocritical to me.
Quote:
Originally Posted by SOON2BNSURPRISE
Now that you mention that store I would agree with the company. I wouldn't hire anyone to sell the merchandise that didn't have a clean credit record. Coach has a specific product with a specific clientele. Not that it is even the top of the charts when it comes to bags, but they are not your $20 Target special either.
Exactly. Coach bags are overpriced alphabetized versions of the Target specials. And they made in China also
The correlation is that the OP's only poor judgement was in who she married, and may anyone who has not made a relationship mistake throw the first stone.
And because the OP's poor credit stems from an issue that is no longer relevant, nor was it caused by irresponsible behavior, it is now irrelevant to her performance on the job.
She knows that, but how is the employer supposed to know that? Because she tells them? Hey, I'm the most honest person in the world. If you don't believe it, just ask me. ;-)
Most everyone has a sob story, both the legitimate victims of circumstances and the irresponsible spenders.
You have two applicants for the job and one has not filed Bankruptcy or have accounts in collection or write-offs.
Which one do you choose?
As for the child that had ruined credit because a parent used the child's social security to open accounts and then skips out... I've seen it happen too often and it is a huge deal.
I took a chance on a rental and while the person was good... he was constantly in crises mode because his family were losers and never missed an opportunity to bring him down.
Mother borrowed his car and was caught with drugs in the car and automatic 30 day impound plus fees... sister used his address to open a charge accounts and I had collectors calling me...
Again, all things being equal the person with better credit or no credit even is the safer bet.
She knows that, but how is the employer supposed to know that? Because she tells them? Hey, I'm the most honest person in the world. If you don't believe it, just ask me. ;-)
Most everyone has a sob story, both the legitimate victims of circumstances and the irresponsible spenders.
So, the legitimate victim of circumstance has "sob stories"?
Sometimes, it's not what you say, but how you say it.
And how is anyone else supposed to know whether you make your payments on time? Credit shows that you've borrowed money and paid it back with regular payments, and this is assurance that you can be trusted with handling money and that if someone gives you a loan they can see that you aren't likely to stiff them.
Tell me, if you had to loan a large amount of money to one of two random people that you've never met, would you take the one who has evidence of ten years of borrowing money from different places and paying it all back, or the one who says they only pay cash because they don't like owing money?
1. I had shown with two cars that I was paying my bills on time. So why wasn't my credit great? Because I didn't use Credit Cards? Why should a bank lending me money on a car car about what my credit card usage looks like?
2. No credit card(or little credit card) history is looked as a negative when in fact, it shows that if someone isn't using credit cards to pay for something they must be using cash or not buying what they can't afford. But credit reporting agencies don't look at it that way.
I get what you are saying. In the end one has to play the game to get high credit scores. Part of the problem is that lending is now about what a computer says and what some formula says instead of a real person looking at individual situations for lending out money.
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