Bad Credit=No Employment Opportunities?

[katie79]

I totally agree with your thought on bad credit and employment. But unfortunelty, this is a company policy among almost all companies in NY/LI. I wish employers here had that notion, but they don't. It's just policy and rules to abide by. I applied for a few jobs, and they gave me an interview, and sent me a letter with my credit report and that they "could no longer take me into consideration" because of my "credit history". And some employers will just find another reason not to hire you and not say that generally. It's just an unfair world here. Experience is important in my book, but they all want at least a BA. I review resumes at my job and one candidate had everything they were looking for, but only an Associates degree, they told me to turn him down only because he had the Assoc and not a bachelor's degree. NY is like that. You basically need:

A Master's or MBA

5-10 years exeperience

Porficienct computer skills

Perfect Credit

 

To get a job. You even need good credit for some waitering jobs since you deal with money.

FL sounds cool. Less worries over there....

[moimeme]

Well, Katie79. In the U.S. that "crappy" job may pay you $40K. In Canada that same "crappy" job will pay you $30K, and that is in canadian dollars and also assumes that you can find a job in the 1st place!

 

Well, Alpha, in fact I've been shocked at how low the US salaries are in comparison with Canadian ones. Plus, while you folks were in a job loss situation, courtesy of your dear Pres, we were creating jobs like nobody's business.

 

I graduated from high school at the age of 13, got legally emancipated and walked right into an apprentice programmer position with IBM, 46 years ago.

 

That was half a century ago, when recruiters would go to high schools to pick out employees. Those days are long, LONG gone.

 

typing speed is around 180wpm

 

Not even God could type three words per second.

 

I do agree that you don't need a degree to be smart, and that fresh grads are not assets. Mind you, university is supposed to teach critical thinking, analysis, and research skills - all very good to have if you're going to be any sort of useful employee. But I said *supposed to* and not all universities do that and not all students learn that.

 

I think the best university programs are those that combine study with co-op terms so that the students learn how to apply what they are learning in the workplace and what working is really like.

 

I also think that people ought to earn their own tuition to universities. I did, and so there was no way I was going to drop out or fail - it was my good money I'd be wasting!!!

[amerikajin]

That's just plain bulls__t thinking!

 

To a point, I agree.

 

I'm a college grad, but I've worked with plenty who weren't, and depending on the position, I've thought a few of them were every bit as capable as I, and probably more so. This is particularly true in jobs like retail, sales, sales management, personnel management, and other jobs which require more in terms of intuition, experience, interpersonal skills and just good old fashioned work ethic.

 

For some jobs, I'd imagine that college grads are on average more likely to succeed. Certainly in the professions like law, medicine, or more complex financial analysis, I'd think someone with several years of advanced studies would be a better bet than someone who tried their hands at an apprenticeship.

 

Personally, I think higher education is a racket. Grad schools and professional schools want anywhere from $20,000 to $100,000 for three to four more years of advanced studies. s***, by the time you get finished paying that off, you're half-way to retirement age - if not more than half-way. That just doesn't make any economic sense. There are some things that simply don't require 3 or 4 years of study, but the curriculum gets dragged out so that the academic racket continues into perpetuity.

[tknutson]

FICO Scores can affect insurance, home loans, student loans and employment

Basically your credit - good or bad - is a reflection of your character

and Employers like to hire caliber people.

[amerikajin]

Credit is not an accurate reflection of character. There are things that won't show up on a credit report which probably should, and as well, things that show up on a report that probably should not.

 

In my college years, when I was younger and less responsible, there were a couple of times when I forgot to pay my phone bill - until the phone literally got turned off. Now that was pretty irresponsible, but it won't show up on a credit report because utilities companies rarely report to credit agencies unless they have exhausted all means of collection first.

 

I still had a spotless credit history until about 3 years ago...when I missed the deadline for a single month's cycle of payments after moving overseas - I was late in setting up an overseas transfer account, and on top of that, I had just recently been employed after about 7 months of being laid off. No real fault of my own there, but nevertheless, it took my credit down a notch as two creditors immediately reported it to one of the credit agencies.

 

Even professional employment screeners I've talked to don't like credit checks. About the only thing they're really useful for is determining if someone is in a financial pinch, which might possibly make them desperate enough to embezzle or misuse funds. Other than that, I think credit history is useless.

[UncleAlbert]

Lots of companies in Canada will run a credit check on employees. Rental companies for sure, Avis for sure, I know that from a close associatte a few years back who had the misfortune of losing everything in divorce and it wiped him out so bad he had to take the first job that came his way and that was renting out cars at an airport, during the night.

Your credit is no reflection on you directly either, people move along very well in their lifes until oneday when they least expect, illness, tragedy or you name it makes it impossible to earn income. I have a friend who is the sole provider for his family. His wife has MS he has a young son and a mortgage. His problem is after years of wotking construction his body is failing and he is facing at near 50 retraining for a meager wage. You can see that should he fall to far behind in things, his chances of recovering successfully are practically nil. he would be forced into "B" in 3 months. Banks don't like waiting around for things to get better. They give you about 3 months and after that your file hits another desk and away you go. Sad but that's business.

Take a look abit further back in the early 80's. Interest rates were nearly 22%. People were lining up outside the lending institutions to return the car keys, the house keys and everything else they owed money on. It was really sad how many people were wiped out that year in this country. But they are all survived and got re-mortgaged. How does one forsee everything?

How about all the people who were wiped out in the "Leaky Condo Scandal" in Vancouver BC. You lay your money down on a home and 3 years later it's worthless. That happenned to an estimated 5500 people. Their life savings gone.

I could go on...!