credit score, employers, Huffington Post, 2011-05-31

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Tuesday, May 31, 2011 2:10 PM
To: Bryce Covert, assistant editor, New Deal 2.0
Subject: credit score, employers, Roosevelt Institute, New Deal 2.0, The Swipe, Huffington Post, 2011-05-31

See this message and your response at http://blog.creditscoring.com/?p=2122, http://blog.creditscoring.com/?tag=huffingtonpost, and in the Myth category at http://blog.creditscoring.com/?cat=134.

You wrote:  “As wages fell and consumers took on more debt to compensate, credit scores have become more and more important, as they are a large part of determining a borrower’s creditworthiness. They now even factor into things like job applications [corrected link. 6/9/11, Ed.]… But it doesn’t stop there — potential employers, insurance companies, landlords, and a host of others use these scores as well.”

Who is your source regarding credit score use by employers?


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

credit score, employers, Wall Street Journal

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Sunday, May 22, 2011 4:33 PM
To: Emily Glazer, reporter, Wall Street Journal
Subject: credit score, employers, Wall Street Journal

See this message and your response at http://blog.creditscoring.com/?p=2114.  

You wrote, “A credit score also is used when you apply for an apartment lease and even for some jobs.”

Who is your source regarding credit score use by employers?


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342


UPDATE, 2011-06-22

From: Greg Fisher [mailto:greg@creditscoring.com] 
Sent: Tuesday, May 24, 2011 12:57 PM
To: Glazer, Emily
Cc: Everett, Teri M. ( NewsCorp )
Subject: RE: credit score, employers, Wall Street Journal

Please reply.


From: Glazer, Emily 
Sent: Tuesday, May 24, 2011 5:52 PM
To: ‘greg@creditscoring.com
Cc: Everett, Teri M. ( NewsCorp )
Subject: RE: credit score, employers, Wall Street Journal

Hi Greg,

Thanks for reading the article and reaching out. I apologize for my delayed reply – I went through my inbox and I never received your original email.

A number of sources, including Alexa von Tobel from personal-finance website LearnVest.com, had mentioned that some employers check your credit score. This is most prevalent with various background searches during job interviews as a low score could put you at a hiring disadvantage.

Cheers,
Emily


From: Greg Fisher [mailto:greg@creditscoring.com] 
Sent: Thursday, June 02, 2011 12:29 AM
To: Glazer, Emily
Subject: RE: credit score, employers, Wall Street Journal, LearnVest

LearnVest.com states, “While employers cannot access credit scores, they are given a history of missed bill payments, debts, and bankruptcies.”

How did you obtain the information you attribute to Ms. von Tobel?


From: Glazer, Emily 
Sent: Thursday, June 02, 2011 10:15 AM
To: ‘greg@creditscoring.com
Subject: RE: credit score, employers, Wall Street Journal, LearnVest

Hi Greg,

The information was obtained through a phone interview. We wrote “and even for some jobs” because it depends on the company.

Thank you,
Emily


From: Greg Fisher [mailto:greg@creditscoring.com] 
Sent: Thursday, June 02, 2011 11:21 AM
To: Alexa von Tobel, CEO & founder, LearnVest
Cc: Emily Glazer, reporter, Wall Street Journal
Subject: FW: credit score, employers, Wall Street Journal, LearnVest

What indicates that employers use credit scores?


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342


On Jun 3, 2011, at 11:54 AM, Greg Fisher wrote:

Please reply.


From: Maria Lin
Sent: Monday, June 06, 2011 10:19 AM
To: greg@creditscoring.com
Cc: Alexa von Tobel, CEO & founder, LearnVest; Ann Kaplan, chair of the board, LearnVest; Emily Glazer, reporter, Wall Street Journal
Subject:Re: credit score, employers, Wall Street Journal, LearnVest II

Hello Greg:

According to one source, the Society for Human Resource Management, 43% of their companies ran credit checks on some or all potential hires according to a poll they conducted a few years ago.

Links to a few of their reports are below.

http://www.shrm.org/Research/SurveyFindings/Articles/Pages/Backroundcheckingcomparative.aspx

http://www.shrm.org/Research/SurveyFindings/Articles/Pages/BackgroundCheckingImplications.aspx

Please feel free to reach out to them directly to confirm the answers to your questions.

Best regards,

Maria


Maria Lin
Editor in Chief
Learnvest, Inc.
740 Broadway, Suite 1002
New York, NY 10012
xxx.xxx.xxxx (office)
xxx.xxx.xxxx (cell)
xxx.xxx.xxxx (fax)


From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, June 06, 2011 12:25 PM
To: Glazer, Emily
Cc: Alexa von Tobel, CEO & founder, LearnVest; Ann Kaplan, chair of the board, LearnVest; Maria Lin, editor in chief, Learnvest, Inc.
Subject:RE: credit score, employers, Wall Street Journal, LearnVest II

SHRM told me that its survey does not address credit scores.

What correction will you make?

From: Hughes, Jennifer 
Sent: Thursday, April 09, 2009 5:04 PM
To: creditscoring.com
Subject: RE: credit score, employers III

Hi Greg,

Neither survey discusses credit scores, only credit checks.

Sorry!

Thanks,
Jenny

Jennifer Hughes
Media Affairs Specialist
Society for Human Resource Management
1800 Duke Street
Alexandria, VA 22314-3499
Phone: xxx-xxx-xxxx

E-mail: xxxx@xxxx.xxx
www.shrm.org

 HR Leadership for the New Economy.  Only at the SHRM Annual Conference & Exposition.
June 28 – July 1, 2009 | New Orleans, La.
Find out more at www.shrm.org/conferences/annual.
—————————————-

From: creditscoring.com [mailto:greg@creditscoring.com]
Sent: Thursday, April 09, 2009 4:45 PM
To: Hughes, Jennifer
Subject: RE: credit score, employers III

Thank you.

What are the survey results regarding credit scores (a single number calculated from a person’s credit history), specifically?

Do any of the survey questions use the term “credit score”?
—————————————-

At 11:31 AM 4/9/2009, Hughes, Jennifer wrote:

Hi Greg,

According to SHRM’s 2006 Weapons in the Workplace Survey, 42% of surveyed employers run credit checks on potential employees as part of routine background checks. In SHRM’s 2004 Reference and Background Checking Survey, 19% of surveyed employers said they always used credit checks as a type of information in a background check, 24% sometimes used credit checks, and 18% rarely used credit checks.

If you have any other questions, let me know.

Thanks,
Jenny

Jennifer Hughes
Media Affairs Specialist
Society for Human Resource Management
1800 Duke Street
Alexandria, VA 22314-3499
Phone: xxx-xxx-xxxx
E-mail: xxxx@xxxx.xxx
www.shrm.org
 
HR Leadership for the New Economy.  Only at the SHRM Annual Conference & Exposition.
June 28 – July 1, 2009 | New Orleans, La.
Find out more at www.shrm.org/conferences/annual.
—————————————-

From: creditscoring.com [ mailto:greg@creditscoring.com]
Sent: Thursday, April 09, 2009 10:39 AM
To: Malveaux, Julie; Harris, Jeanene; Hughes, Jennifer
Subject: RE: credit score, employers III
 
Do you claim that employers use credit scores?


From: Glazer, Emily
Sent: Monday, June 06, 2011 12:54 PM
To: ‘greg@creditscoring.com’
Subject:RE: credit score, employers, Wall Street Journal, LearnVest II

Thanks for pointing this out, Greg. I’m going to talk with my editor and will get back to you.

Cheers,
Emily


From: Alexa von Tobel
Sent: Friday, June 03, 2011 8:42 PM
To: greg@creditscoring.com
Subject:Re: credit score, employers, Wall Street Journal, LearnVest II

Greg, I am currently traveling out of the country for work, but happy to get back to you as soon as I have better access to email. Hope you are having a great weekend!
-Alexa


From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Friday, June 10, 2011 12:51 PM
To: Alexa von Tobel, CEO & founder, LearnVest
Cc: Ann Kaplan, chair of the board, LearnVest; Maria Lin, editor in chief, Learnvest, Inc.; Emily Glazer, reporter, Wall Street Journal
Subject:RE: credit score, employers, Wall Street Journal, LearnVest II

When do you return?

Credit score, employers and Minyanville


From: Greg Fisher
Sent: Monday, May 09, 2011
To: Todd Harrison, founder and CEO, Minyanville Media, Inc.
Cc: Conor Sen, “Professor,” Minyanville
Subject: credit score, employers, Minyanville

See this message and your response at http://blog.creditscoring.com/?p=2077.

You published, “There was a time when we’d apply for a job or an apartment or a mortgage and not have to worry about a credit score.”

Who is your source regarding credit score use by employers?


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

Myth: Employers use credit scores (video) – National Financial Literacy Month

National Financial Literacy Month – Video illustrates myth that employers use credit scores

creditscoring.com video shows media, experts, central bank and legislators furthering the myth that employers use credit scores in hiring decisions.

Myth: Employers use credit scores

Myth video: Employers use credit scores

FreeScore.com spreads credit score/job myth II

[previous email]

From: Greg Fisher 
Sent: Friday, April 08, 2011
To: Gary Johnson, president & CEO, Vertrue Incorporated (FreeScore.com member support address); Rob Wyse, Media First Public Relations
Cc: Caitlin Senior, Media First Public Relations; Carrie Coghill, director of consumer education, FreeScore.com
Subject: RE: credit score, employers, FreeScore.com VIII

Please reply.

Credit scores and credit scares on CBS

The national consumer reporting agencies all state that they do not provide credit scores for employment screening.

In 2010, CBS gave us, “From your prospective employers to your prospective landlords, most companies will check your credit score in order to gauge their risk.”

Today, the Early Show host completed the list of the big three network hosts, saying, “this three-digit number can determine whether you get a mortgage or car insurance–sometimes even a job.”

He throws it to the same correspondent who did the dubious deed in 2010.

FreeScore.com spreads credit score/job myth


FreeScore.com Score Guys

From: Greg Fisher 
Sent: Thursday, March 31, 2011
To: Rob Wyse, Media First Public Relations
Cc: Caitlin Senior, Media First Public Relations
Subject: RE: credit score, employers, FreeScore.com VII

See this message and your reply at http://blog.creditscoring.com/?tag=freescorecom.

Yesterday, you wrote: “Said [a school teacher], ‘While every person might not use much of what they learn in Algebra 2 and Calculus throughout their life, every person must understand credit scores. Good credit and good credit scores can be the key to the future for students in getting a loan, and even getting a job.’”

Also, your September 8, 2009 press release states:  “‘Credit scores and credit reports play a much bigger part in your finances than most people know,’ says FreeScore.com spokesperson Rob Wyse. ‘Poor scores can cost you a higher interest rate, a job, or even a place to live. That’s why it’s so important to see where your credit stands and to make sure the information in your credit files is accurate.’”

What evidence suggests that employers use credit scores?


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

[next email]

Employers credit score Catch-22 myth, Washington Post Company

From: Greg Fisher
Sent: Friday, March 25, 2011
To: Allan Lichtman, professor, Department of History, American University
Cc: Meredith Hooker, managing editor for Internet, The Gazette; Ken Weiss, editor, Gazette of Politics and Business (weekend edition); Jeff Allanach, editor, Frederick County newsroom, The Gazette; David B. Simon, managing editor, Montgomery County newsroom, The Gazette; Vanessa Harrington, editor, Prince George’s County newsroom, The Gazette; The Washington Post Company
Subject: credit score, employers, The Gazette, The Washington Post Company, 2011-03-25

You wrote, “The American people are well aware of the problem of using credit scores for employment decisions.”

Who is your source regarding credit score use by employers?

See this message and your reply at http://blog.creditscoring.com/?cat=myth-2.


Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

Trail of a rumor: Credit scores, employers and media

Consumer reporting agencies TransUnion, Equifax and Experian all state that they do not provide credit scores for employment purposes.   Author and SmartCredit.com writer John Ulzheimer calls the notion that employers use credit scores the myth of the decadeLester Rosen, president of Employment Screening Resources (ESR) and a qualified employment screening expert calls it an urban myth.

Here’s how the rumor spreads.  This is seedy, so wear your boots.

Today, the headline “Government and Private Employers Check Credit Scores” appears on a popular news search website.  The headline comes from pressreleasemag.com, a domain created only two months ago.  ‎The January 12 story begins with this paragraph:  “More and more employers especially in the government sector… finding a new job, because their credit score is low.”

Those are the same, exact 93 words, found on CreditCardGuide.com in a story dated January 9.

CreditCardguide.com has not responded.

The following is unrelated to employers and credit scores, but is too intriguing to pass up.  The pressreleasemag.com story continues in the second paragraph: “On account that credit is a nebulous number… free annual credit reports I could keep up.”

So, there are 92 more words that are exactly the same as another press release on another website.

Next paragraph:  “However, cards with a flexible spending limit, while convenient, can present…  preferably under 30 percent and ideally at 10 percent to 20 percent.”

That’s a new twist.  85 of the words in that paragraph are exactly the same as an 87-word paragraph in a December 27 story on CreditCardGuide.com.  But whoever is doing the deed at pressreleasemag.com changed the last two words.  They actually did some real work– such as it is.

Next paragraph: ”That rankles a lot of people, but what really annoys … will use when you apply for a loan.”

Ouch.  The big Kahuna.  Gannett’s USA TODAY was the victim this time; 81 words. 

Finally:  ”The Equifax website has a lot of information about not only free, but discounted… prices vary but all are less than the $10.50 the bureau normally charges for a single report.)”

75 words.  Victim:  AOL.

ScoreInfo website launched by Fair Isaac

Fair Isaac introduced another website today:  ScoreInfo.  In a press release, Jordan Graham, president of FICO Consumer Services said, “FICO launched ScoreInfo.org to help consumers better understand their disclosure notices and how to use that new knowledge to their benefit.”

On January 1, 2011, federal Fair Credit Reporting Act risk-based pricing notice rules went into effect.  The Federal Trade Commission and the Federal Reserve Board issued joint press releases, but there is no link to the Fed’s version here because its chairman, Ben Bernanke, has still not responded to the question about its statement about employers using credit scores.

The website joins Fair Isaac’s other websites FICO.com and myFICO.