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Old 12-21-2012, 06:40 PM
 
38 posts, read 113,549 times
Reputation: 59

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I just signed an offer for a new job that has to deal with PCI compliance.

The offer can be rescinded in the situation I fail the background or credit check.

I never lied about my education or job history and have no criminal record, what concerns me is that I have a few negative things on my credit report that rates from poor-fair when I check it, mosly due to my lack of funds during college.

I have a bunch of old closed "potentially negative" things on my report from 7+ years ago, which i am not to worried about since that stuff was settled.

My current credit card is in good standing and even had a credit increase, I also have no judgement or leans or garnishments on my report.

I have 2 defaulted things in collections I never seen before and while I could easily pay them off (only like 2K ) I don't want to pay something off that I have no clue what it is. I also have 20K in student debt that im working on getting up to date. My total debt is less then 1/6th of my salary so the "threat" of me stealing or selling secrets... or whatever it is they are worried about is null.

Do I need to be worried? I already told them about the student loans, and they said that shouldn't be an issue... so I am hoping 2 minor collections on my statement wont sink me...
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Old 12-21-2012, 06:47 PM
 
6,459 posts, read 11,528,208 times
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Look, there's nothing you can do about it now.

You'll either get the job or you won't. If you don't, then you'll get something better and in the meantime, you can clear up those negative credit issues if you can. If you can't, then again, don't worry about it.

If the people who hired you really liked you and have pull in the company, then you got the job.
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Old 12-21-2012, 07:03 PM
 
38 posts, read 113,549 times
Reputation: 59
Quote:
Originally Posted by marilyn220 View Post
Look, there's nothing you can do about it now.

You'll either get the job or you won't. If you don't, then you'll get something better and in the meantime, you can clear up those negative credit issues if you can. If you can't, then again, don't worry about it.

If the people who hired you really liked you and have pull in the company, then you got the job.
It was more questioning what exactly HR is looking for when they do a credit check, and in my case does it cause red flags, if I know my credit report will keep me from do working in e-commerce vertical I will know to not look for jobs in that sector.
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Old 12-21-2012, 07:09 PM
 
6,129 posts, read 7,373,234 times
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HR is more concerned about recent financial trouble. It would make you a higher risk of theft.

$20k in student loan debt is not a red flag. The HR lady might have over $20k in her own student loans.
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Old 12-21-2012, 07:38 PM
 
12,184 posts, read 18,108,407 times
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Rule #1 with PCI is honesty. Tell them the issues and if it's not a disqualifying factor, the job may be yours. Do not disclose and they find it, at best they may ask you about it and you can clear the air while keeping the job or they may just rescind the offer with the generic background/credit check issue explanation.

Although you claim you have no knowledge about those two default/collections, you need to find out ASAP if they are legitimate charges against you or if it was a mistake. Get it cleared NOW because you need it cleared. If it is a mistake, you may get an opportunity to explain and hopefully the credit reporting agency will issue an update that they were errors, but the more likely scenario is the employment decision will be made before any correction can be made. If they turn out to be legitimate, it’s a red flag as not only were you in default, you didn’t even have control over your finances to know what you owed and to whom.

Please clear it up now because the next job you apply for may run into the same thing so give them the best shot entering into the relationship than trying to explain after they discover it.
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Old 12-21-2012, 07:57 PM
 
Location: Seattle, Washington
2,533 posts, read 4,415,919 times
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Why would an employer need a credit report is what I would like to know... risk of theft? Of what? Are you working in a bank or similar profession with access to large amounts of cash? That I could see...

I guess every profession has something that could be stolen and taken to the local pawn shop... but unless it's a bank I just don't see the purpose.
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Old 12-21-2012, 08:02 PM
 
6,129 posts, read 7,373,234 times
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Quote:
Originally Posted by Kees View Post
Why would an employer need a credit report is what I would like to know... risk of theft? Of what? Are you working in a bank or similar profession with access to large amounts of cash? That I could see...

I guess every profession has something that could be stolen and taken to the local pawn shop... but unless it's a bank I just don't see the purpose.
OP is working with PCI compliance. Payment Card Industry.

Payment Card Industry Data Security Standard - Wikipedia, the free encyclopedia

Quote:
The Payment Card Industry Data Security Standard (PCI DSS) is a proprietary information security standard for organizations that handle cardholder information for the major debit, credit, prepaid, e-purse, ATM, and POS cards.

Defined by the Payment Card Industry Security Standards Council, the standard was created to increase controls around cardholder data to reduce credit card fraud via its exposure. Validation of compliance is done annually
Quote:
PCI DSS originally began as five different programs: Visa Card Information Security Program, MasterCard Site Data Protection, American Express Data Security Operating Policy, Discover Information and Compliance, and the JCB Data Security Program
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Old 12-21-2012, 08:12 PM
 
Location: Seattle, Washington
2,533 posts, read 4,415,919 times
Reputation: 2820
Quote:
Originally Posted by move4ward View Post
OP is working with PCI compliance. Payment Card Industry.

Payment Card Industry Data Security Standard - Wikipedia, the free encyclopedia
Ahh... that's what I get for not googling PCI. :-)
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Old 12-21-2012, 08:59 PM
 
38 posts, read 113,549 times
Reputation: 59
Quote:
Originally Posted by move4ward View Post
HR is more concerned about recent financial trouble. It would make you a higher risk of theft.

$20k in student loan debt is not a red flag. The HR lady might have over $20k in her own student loans.
Thanks that makes me feel better... the last "negative notice" on my report was over 2 years ago.
I already told them there is one or two dings and my student loans so my credit is poor-fair... so I hope it all works out, the C-Level who hired me told me not to worry when I mentioned it, but I don't think its his call.

I just worry because I had to give notice to accept this (amazing) offer, and I thought I was in the clear till the credit check. Its also the first time I had a background check ran on me
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Old 12-22-2012, 01:48 AM
 
6,129 posts, read 7,373,234 times
Reputation: 8426
Years ago, I was hired for a mid-sized financial services firm. I had access to 100,000's of social security numbers, bank account numbers, etc. Besides the $75 collection, I had no recent issues. I was also worried about the issue.

Even if you do get the job, the credit report should be reviewed 1-2 times a year. All the baddies need to be cleared immediately. New ones may pop up unexpectedly. I had a family member end up with a defaulted credit card account. The residential address was over 1200 miles away in another state.

Last edited by move4ward; 12-22-2012 at 01:56 AM..
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