Friday, July 3, 2020

What does your credit history have to do with your future job prospects, anyway - Copeland Coaching

What does your credit history have to do with your future job prospects, anyway When it comes to landing a great job, it’s more than what’s on your resume these days. In addition to your one to two page work history, employers are also looking at other things, including your cover letter, your LinkedIn profile, your social media, and your presence on Google. The one thing you may not have realized is that employers are looking at your credit report too! If you have a low credit score, they may decide not to hire you. Why? Well, an employer may think that if you can’t keep a positive credit history, how could you possibly run their business? At first glance, this makes sense. Executives are often managing millions of dollars a year. They control big budgets, and are responsible for decisions that impact hundreds, if not thousands of people. But, when you dig deeper, this issue is more complex than it sounds. There are many things that go into your credit score that you don’t have full control over, including: Inaccurate information â€" Anyone who’s had their financial credit stolen knows what a pain it is to clean up the mess left behind afterward. Healthcare bills â€" At times, healthcare bills you have already paid show up on your credit report as delinquent. Then, there are those times when you actually do have big medical bills, but at no fault of your own. Home Foreclosures â€" Due to the crazy market we’ve had for a long time now, many homeowners have been forced to foreclose, or participate in a short sale. These actions can have a negative impact on your credit score. Unemployment â€" In today’s job market, a layoff can happen any time and is often not a reflection of employee performance. Divorce â€" Divorce can wreak havoc on a credit score. What’s worse is that these negative events can stay on your credit history for up to seven years! The good news for job seekers is that a new act, Equal Employment for All Act, is being introduced into the U.S. House of Representatives. Tennessee Rep. Steve Cohen and Massachusetts Sen. Elizabeth Warren are behind the project. But, as long as employers are using your credit score to make decisions about your future, you should know what to do: Check for inaccuracies Review your credit report once per year for errors â€" and report them. You can download one free copy of your credit report each year online. Keep your phone and online accounts secure â€" Don’t be careless and allow thieves into your personal accounts. Pay attention to where you shop online â€" Use reputable sites online. Stay away from putting your credit card into unknown sites. Pay your bills on time â€" One of the easiest ways to damage your credit yourself is to be careless about when you pay your bills. Make a point to pay them on time, or to set them up for automatic payment. Keep your balances on credit cards low â€" High credit card debt can negatively impact your score. Only apply for new credit when you need it â€" Don’t create a situation where you have a huge amount of unneeded credit available. These tips will help you to both protect, and improve your existing credit score. And, having a dream credit score will get you that much closer to landing a dream job! I hope these tips have helped you. Visit CopelandCoaching.com to find more tips to improve your job search. If I can be of assistance to you, dont hesitate to reach out to me here. Also, be sure to subscribe to my Copeland Coaching Podcast on Apple Podcasts and Stitcher where I discuss career advice every Tuesday! If youve already heard the podcast and enjoy it, please consider leaving a review in Apple Podcasts or Stitcher. I hope these tips have helped you. Visit CopelandCoaching.com to find more tips to improve your job search. If I can be of assistance to you, dont hesitate to reach out to me here. Also, be sure to subscribe to my Copeland Coaching Podcast on Apple Podcasts and Stitcher where I discuss career advice every Tuesday! If youve already heard the podcast and enjoy it, please consider leaving a review in Apple Podcasts or Stitcher. Happy hunting! Angela Copeland @CopelandCoach

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