Category: Employers

Alleged use of credit scores by employers in pre-employment screening.

Countdown to when Experian removes statement about employers using scores

Return here to find out when Experian removed its statement that employers use credit scores.

Here is the statement:

“Credit scoring helps potential lenders, landlords, and employers quickly gauge an applicant’s credit history.”

At the bottom of the page Experian implores, “Contact Us – If this doesn’t answer your question please contact us.”

By all means, contact them.

The domains qspace.com and iplace.com are part of Experian’s out-of-control pile of web addresses.

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Sunday, July 26, 2009 9:18 PM
To: help@qspace.com; heather.mclaughlin@experian.com; mediarelations@experian.com; corporate.responsibility@experian.com
Cc: greg@creditscoring.com
Subject: credit score, employers, Experian, iplace.com

You state, ”Credit scoring helps potential lenders, landlords, and employers quickly gauge an applicant’s credit history.”

http://qspace.iplace.com/qspace/DirectPull/3D_key.asp?section=ALL

After the tongue-lashing you took at creditscoring.com, you should consider a different line of work.

http://www.creditscoring.com/influence/industry/consumerreportingagencies/experian/training-employer.html

What is the name of an employer who uses credit scores?

FreeScore.com and Ben Stein: Employers use credit scores

Consumer reporting agencies Equifax, TransUnion and Experian all state that they do not provide credit scores for employment screening.

But in a television commercial for FreeScore.com, spokesman Ben Stein states, “Whether you’re in a financial hole, or just want to get a loan, a better interest rate, or a new job, you’re at the mercy of your credit scores.”

From: Greg Fisher
Sent: Friday, July 24, 2009 10:36 AM
To: Nate Allard, Media First Public Relations
Subject: credit score, employers, FreeScore.com

 

You wrote, “Of his new role as commercial spokesperson for FreeScore.com, Mr. Stein said…  ‘Poor scores can cost people higher interest rates on loans and credit cards or even cost them a job.’“

 

Who indicates that credit scores are used in employment?

credit score, employers, ABC News

Despite consumer reporting agencies’ emphatic statements that they do not provide credit scores for employment screening, ABC News writes:

But your credit score can also prevent you from getting that new job. Many recent applicants — from the newly divorced to recent grads saddled with student loans – are finding that their credit scores are keeping them from getting hired.

The television network’s statement is part of a request for stories about the topic from readers.

credit score, employers, Washington Post

http://www.buffalonews.com/410/story/667793.html
http://www.courier-journal.com/article/20090517/BUSINESS/905170338/1003/ARCHIVES
http://www.ocregister.com/articles/credit-card-rate-2381680-utilization-percent
http://www.fresnobee.com/columnists/salinas/story/1374724.html
http://www.miamiherald.com/136/story/1028698.html
http://www.philly.com/philly/columnists/michelle_singletary/043009_color_of_money.html
http://www.projo.com/business/content/bz_singletary03_05-03-09_DJE6T79_v6.17c60ad.html

From: creditscoring.com
Sent: Wednesday, May 20, 2009 11:35 AM
To: Michelle Singletary, Wasington Post personal finance columnist (The Color of Money email address); Michelle Singletary (another Washington Post email address for Singletary)
Cc: Andy Alexander, Washington Post ombudsman; Andy Alexander (another Washington Post email address for Alexander); Shirley M. Carswell, Washington post deputy managing editor
Subject:RE: credit score, employers III

Please reply.

From: creditscoring.com
Sent: Tuesday, May 19, 2009 8:49 AM
To: Michelle Singletary, Wasington Post personal finance columnist (The Color of Money email address); Michelle Singletary (another Washington Post email address for Singletary)
Cc: Andy Alexander, Washington Post ombudsman
Subject:RE: credit score, employers II

You also wrote, “If the market has widely embraced the FICO credit score, Congress shouldn’t allow business quarrels — not now when credit is hard to get — to result in shutting down access to information that is essential to obtaining the best loan, insurance rate or even a job.”

Please reply.

From: creditscoring.com
Sent: Sunday, May 17, 2009 7:24 PM
To: Michelle Singletary, Wasington Post personal finance columnist (The Color of Money email address); Michelle Singletary (another Washington Post email address for Singletary)
Subject:credit score, employers

You wrote:  “And a lower credit score means you pay more for the money you borrow. It can also mean higher insurance rates for your home or car, or worse, the loss of a job.”

Who is your source regarding credit score use by employers?

Equifax states that it checks its job applicants’ credit scores



From: creditscoring.com
Sent: Tuesday, June 09, 2009 12:36 PM
To: Steve Ely, Equifax
Cc: Ilyce Glink; Coretha M. Rushing, chief human resource officer, Equifax
Subject: credit score, employers, Equifax HR

 

You said, “I will tell you, even when you apply for a job at Equifax, we check your credit score because we’d like to make sure that you are good at managing your money.”

 

What credit score is required for the CEO’s job?

 

Credit score, job, employer, NBC Washington TV station

 

REPORTER:  “Jim, if finances have a heartbeat, it’s the credit score. It affects what you pay for mortgages or rent, your auto loan, your insurance, your utility deposits, and even if you’ll get a job.”

From: creditscoring.com
Sent: Wednesday, May 20, 2009 2:52 PM
To: Elizabeth Crenshaw (askliz@nbcwashington.com)
Cc: Jeff Zucker, ‘news4pr@nbc.com’; ‘nbc4dc@nbc.com’
Subject: credit score, employers

You said: “If finances have a heartbeat, it’s the credit score. It affects what you pay for mortgages or rent, your auto loan, your insurance, your utility deposits, and even if you’ll get a job.”

 

Who is your source regarding credit score use by employers?

 

Credit Scores Used by Employers: Believers

See Credit scores used by employers:  Believers and Nonbelievers.

Now, only categorized in the influence > government directory, this topic deserves its own section.  FICO, USA Today, the U.S. Treasury Department, Federal Reserve, EEOC and many others communicate a similar message:  Watch out— credit scores are used in employment screening.  But, when contacted, the various media, government agencies, associations and consumer advocates (they all look the same; on the Internet, nobody knows you’re a bureaucrat) come up short when asked for their sources.

So, what’s the big problem with that?  The credit bureaus say that they don’t sell scores to employers.