One of the major proponents of the credit score/employers myth is Visa, Inc. Ironically, the credit card company just issued the statement, “Visa Inc. Survey: Credit Score Myths Run Rampant.”
In 2007, Visa took it on the chin for its unsubstantiated statements about credit scores and jobs. The company, through its Practical Money Skills for Life program replied, “We’re not at liberty to disclose specific employers who use credit scores in employee screening, but we are aware of instances in which this has been done.”
Last year, the person at the center of the 2007 silliness did the deed again. Visa senior director Jason Alderman wrote, “A poor credit score can impact their ability to qualify for loans, secure favorable interest and insurance rates or even get a job or an apartment.”
Unlike other rumormongers (aka journalists with unnamed sources), Visa knows (or, at least, it says it knows) of instances of the alleged illicit, unauthorized practice. It’s just that it’s a secret.
Visa: It’s everywhere (unfortunately).
From: “creditscoring.com” <email@example.com>
Date: Thu, 12 Feb 2009 13:36:22 -0500
To: <firstname.lastname@example.org>, <email@example.com>, <firstname.lastname@example.org>, <email@example.com>, <firstname.lastname@example.org>
Subject: credit score, employers
You wrote, “Many employers have made checking a credit score a mandatory part of the job application process, just as drug testing and criminal background checks are now common requirements for jobs in many industries.”
“Credit scores determine… in some cases, whether you get that job or apartment you’ve been hoping for.”
See http://creditscoring.com/influence/government/employercreditscorebelievers.html#visa1 .
Who is your source regarding credit score use by employers?
What is the name of an employer who uses credit scores?
From: Practical Money Skills for Life [mailto:email@example.com]
Sent: Tuesday, February 17, 2009 3:52 PM
Cc: Mark Flanagan
Subject: Re: credit score, employers
Our source for this information is the Federal Trade Commission. Please see their Consumer Alert here:
We’re not at liberty to disclose specific employers who use credit scores in employee screening, but we are aware of instances in which this has been done.
Practical Money Skills for Life Support
From: creditscoring.com [mailto:firstname.lastname@example.org]
Sent: February 17, 2009
To: Practical Money Skills for Life
Cc: email@example.com; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org
Subject: Re: credit score, employers II, FTC, identity
The word “score” does not appear in that Federal Trade Commission document.
What are the words on that FTC page to which you refer? Did you see the actual credit score in the employment screening instances? Does Visa use credit scores in employee screening?
What is your name?
From: Greg Fisher [mailto:email@example.com]
Sent: Wednesday, October 12, 2011 12:31 PM
Cc: firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; firstname.lastname@example.org; email@example.com; Practical Money Skills for Life
Subject: RE: credit score, employers III, survey
Did you include a question about employers using credit scores?
The Credit Scoring Site
PO Box 342
Dayton, Ohio 45409-0342