What can a prospective employer see in a credit check done to a prospective employee?
Question by djc07: What can a prospective employer see in a credit check done to a prospective employee?
What I mean is can they actually go into detail with your accounts, etc.? OR do they only see you “credit rating” or “score”?? Someone with experience as an employer or manager, please help me out with this one. I am going to have a credit check done on me for a job, and my credit if considered “fair” because I don’t have a long credit history, but I need a little info.
Best answer:
Answer by HarleyGirlSD
Stability, responsibility, and reliability. As for what’s disclosed, it depends on your employer and the type of service they subscribe to.
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Categories: Credit Score Questions Tags: Check, Credit, done, employee, employer, prospective
Why is my score “fair’ and not “good’?
Question by JustGottaKnow: Why is my score “fair’ and not “good’?
I understand the credit rating chart goes like this:
350-619 poor
620-659 fair
660-749 good
750-850 excellent
I joined USAA’s credit monitoring, and it says my score is 663,but it still says my rating is ‘fair’. I hae tried Experian’s website but there is no place to ask this question. I have applied for a credit card and been turned down, so I am not sure if USAA is wrong or what.
Does anyone ae any insight?
Thanks in advance! I will try to give a best answer for 10 points to someone!
Best answer:
Answer by Simon M
Your credit rating will be reduced if you have at any time in the last few (5 I believe, but not 100% sure) years defaulted on any loans, or credit card repayments. You will probably also find that if you have not had a credit card or a loan for very long, you will not get a top credit rating. Put simply, anyone who hasn’t previously had a credit agreement will not have any history of how they tend to manage their repayments, so its not possible to say whether they are high or low risk. So they tend to be more “middle of the road” which is where you are.
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Categories: Credit Score Questions Tags: Fair, Good, Score
How much can your credit score increase in six months to a year?
Question by tiramisu2c: How much can your credit score increase in six months to a year?
If you are paying bills on time, not opening new lines of credit and decreasing debt (student loans, etc), approximately how long would it take for your credit score to increase by about 100 points?
I know this is not exact, but is it closer to six months or two years?
Thanks!
Best answer:
Answer by Abby <33
Paying bills on time wont drastically change your credit score because essentially. That’s what we’re suppose to do 🙂 (well, unless you have been making a lot of late payments lately)
Just make sure, if you have credit cards, that your available credit it more than half of your limit. For example if your limit is $ 1000, you would want to keep your balance probably below $ 400.
But 100 points in 6 months is quite the feat. You should check out the website, it gives you ways you could improve your credit score.
Hope i could help!
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Credit Union getting different credit score?
Question by LCJC: Credit Union getting different credit score?
I am looking to get a car loan from my credit union. The strange thing was that the credit union got higher scores than when I pulled my own credit report from both Equifax and Experian. I pulled my report the day after the credit union did. Was wondering if the credit union uses a different type of “score” when pulling for a car loan.
Thanks in advance.
LC
Best answer:
Answer by Kristi S
What was the difference in the credit score? When any business runs a credit check on a person, the credit score of that person is docked by a couple of points. The only exception to this, is when the person is looking for a mortgage, where several mortgage companies are looking at you credit. The credit companies know that you are only going to finance one house, and only doc the credit score as one business was checking.
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How can your credit score keep you from getting a job?
Question by Martini: How can your credit score keep you from getting a job?
I heard on some commercial that a bad credit score can keep you from getting a loan, a car, and a job? How is this possible? Why wouldn’t someone hire you because of your credit score?
Best answer:
Answer by Michelle
Having a good credit score and history is one way of checking if you are responsible and reliable. A large company is not going to hire you to work in accounting if your own money management is a mess, plus they consider you a theft risk if you are hard up for cash. Not necessarily right, but it’s what they do. If you are missing car payments and in debt up to your eyeballs it doesn’t look good to them.
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How does my credit score affect my military career?
Question by rendonwarren: How does my credit score affect my military career?
I have a bad credit score and a couple of financial delinquencies, is this going to affect my military career? if so how?
Best answer:
Answer by American Man
When you clear one company to another you are going to find out. You will have to pay up. They will take it from your check, your CO will be notified and he will take it from there.
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What is cheapest way to improve credit score if you have several cards with high balances on them?
Question by gladtobeinla: What is cheapest way to improve credit score if you have several cards with high balances on them?
If you have several cards with close to max amount used on them is there a “magic percentage” like paying 65% off or 60% off in order for the credit score bureaus to take note and give an improved credit score?
Best answer:
Answer by Todd S
Under 20% is the magic number per industry experts. So the best way to get your balances down below 20% would be to either pay them down that much (if possible), or execute a balance transfer. If you go the balance transfer route, you’ll have a high balance on one credit card as opposed to two or three or however many cards you’ve got.
The downside is opening a new credit card, which can lower your credit score temporarily. But long term, eliminating those balances will far outweigh the ding for opening a new credit card. A balance transfer credit card will probably also save you a lot of money in interest.
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Q&A: Buying a car with “bad credit”?
Question by christine: Buying a car with “bad credit”?
My credit isn’t so good because of a foreclosure I had about 18 months ago. I modified and saved my home but the damage is done (tenant gone horribly wrong!). I know that I won’t be able to get a half decent car loan without putting an enormous amount of money down. I am going to go in with $ 4,000 and a trade. I am probably upside down on my current car loan but not by much- probably a few grand. What are the odds that I could get the dealership to match my down payment? I’ve never ever been late on a car loan. The only thing hurting me is the late payments on mortgage during the foreclosure process.
With $ 4,000 down, are banks more open to approving a loan? I am looking at something under $ 20,000 (including sales tax).
Best answer:
Answer by Scooby
Well the economy is really bad right now, so they’ll sell you the car anyway… however, if you credit is terrible, they are gonna hit you with a high interest rate like 17% or more… So put down as much as you can to save yourself some money.
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Categories: Credit Score Questions Tags: Buying, Credit
Does background check usually means “credit score” check?
Question by Cuto C: Does background check usually means “credit score” check?
I own money to two cell phone companies. Sum up all together is almost $ 1000. Chase bank will interview me on Monday and I think they might do a background check. I have never been convicted for a felony…I only owe this money.
Will I still get hired??? What should I do? order my credit score and pay these debt?
Best answer:
Answer by Tina
You should pay the debt. A bank is definitely going to check your credit report before hiring you. They normally will not hire someone with bad credit, they feel there is a great chance of theft that way.
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Categories: Credit Score Questions Tags: Background, Check, Credit, means, Score, usually
How long do the bureaus consider credit “new”?
Question by Cstorm: How long do the bureaus consider credit “new”?
Working on boosting my score a little (like everyone else in America, it seems) and let me tell ya … It’s as clear as a bell that ‘established’ credit is better than ‘new’ credit. But how long is ‘new’ credit ‘new’? I can’t even find a website that explains that. One site mentioned an average age of open accounts, but still… where’s the mark betwen good and bad? Is it 6 months? 12 months? A couple of years? Help!
I HATE not knowing! It’s keeping me up at night and my hair is falling out! (That part might not be ENTIRELY the credit bureaus’ fault…)
Best answer:
Answer by CreditCards.com
First, my hair is falling out, too. Second, RELAX!
I took a quick spin around FICO, the source of the most-commonly used credit scoring algorithm, and couldn’t find a specific answer.
But check these files out:
New credit accounts http://www.myfico.com/crediteducation/questions/credit-inquiry-help.aspx
discusses new credit.
and
http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx
discusses how new credit fits in with your overall score.
In short, it’s a really complicated formula that establishes the relationship between newness and your score; and it’s only a relatively small part of your score.
So rub on some Rogaine and take a nap.
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Categories: Credit Score Questions Tags: Bureaus, consider, Credit, long