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Does that really happen? I've heard of it in passing but I dont know if it's true, and if it were, what in the hell for?!
A lot of employers run credit checks in additional to criminal checks to get a full picture of an applicant's level of responsibility (their view of it, anyway). Jobs that the handling of cash definitely run credit checks.
Usually before you even apply for the job, the prospective employer will indicate whether or not you need a background check. Yes, this is very common in many industries. Even smaller businesses are doing this nowadays to weed out potential applicants.
In today's economy, especially, the obvious catch-22 is if you have been unemployed a while, chances are you credit is ruined by not being able to pay bills. If you work in industries like financial services or banking, I am sure bad credit could derail your career.
Of course it happens, no offense but where have you been? This has been going on for years, especially after the economy tanked. Credit rating became just another tools that employers could use to sift through applicants and disqualify people they wouldn't want working at their company. Obviously not all employers do this but the percentage that do is growing by the day. It's most common at banks and financial institutions where the employee would be handling money or financial information. They want to know that your record is clean and that you're responsible. It's also become a common (although most likely incorrect) way to judge a person's character. They assume that if your credit is bad that you don't know how to make responsible decisions and who would want someone like that as an employee? They'd be looked at as a liability and thus, disqualified. It is a shame because those who need jobs the most are more likely to have bad credit simply because they can't pay their bills, but unfortunately not much anyone can do about the catch 22.
Your credit history provides proof of how responsible (or irresponsible) an individual is. When an employer hires you, they trust you with some aspect of their business. They want to make sure that they are trusting a responsible person.
In cash handling jobs, people with really bad credit can be more of a risk. When times get tough, the $500 in the deposit can be tempting. And my best friend declared bankruptcy about 8 years ago and has yet to be turned does for a job because of it. Every job that has ever run one has hired him. So guessing they are not looking for meet bad credit but a pattern. He hasn't missed a payment since. And the filing was due to a divorce.
Yeah, if I were a business owner, for example, I think I'd be leery hiring someone in any position if they had massive debt. Too much liability/temptation to steal from me, either monetarily by stealing money or product from me to pay down debt or time-wise by having to deal with debt collectors on the phone or trying to find ways on my clock to relieve that burden.
It sucks, but for every 100 people that are honest enough and in debt to not do this, there is 1 that will, and they ruin it for everyone else.
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