Equifax:
Yes, they can.
No, we don’t.
Yes, they can.
No, we don’t.
Board asleep.
Month: April 2009
Equifax, credit scores and employers
Equifax, 2008: “We do not knowingly provide scores for pre employment screening.”
Equifax, 2009: “Lenders, employers, car dealers, – they all can know your FICO score, and so can you.”
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.
What is a credit score?
What is a credit score? gives consumer reporting industry and federal government definitions for the term credit score.
Experian: 15 definitions on 7 websites. Takes the prize for the most shelf space and elegant variation.
Equifax: Among others, gives the FICO score definition. Discord with TransUnion over what period FICO predicts.
TransUnion: Typographical error in FAQ.
FICO (the artist formerly known as Fair, Isaac and Fair Isaac), U.S. Treasury, HUD, FTC, FDIC and FCIC finish the set.
Credit score, employers, Citi
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To: Vikram.Pandit@citi.com
From: “creditscoring.com” <greg@creditscoring.com>
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Vikram Pandit
Citi
You wrote, “Lenders, insurers, landlords, employers and utility companies use your credit score to determine if you qualify for a loan, and at what interest rate and credit limit.”
Who is your source for the information regarding credit score use by employers?