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Pre-Employment Credit Check

What Is Included In A Credit Check

A pre-employment credit check is a summary of an applicants past credit accounts and payment history. The information provided in a credit check is taken from the main 3 credit bureaus. The 3 different reports may not be identical for each applicant, where one might have more information than another. The benefit of having a professional credit check done for a potential new hire is being able to confirm the information you are given is accurate and nothing is missed. Nation Screen’s credit check service can confidently deliver accurate reports within a 24 hour timeframe. 

Pre-Employment Credit Check

Why You Need To Credit Check Your Employees

Only 50% of employers request a credit check during the hiring process of new employees. The main reason you would need a credit check for a new hire is to protect your employees and customers. The entire background check can be used to verify the applicant’s identity, past criminal record, education, and credit. It is important when deciding on which background checking company you will use to make sure they are PBSA certified. 

Credit checks give the employer a better idea on who they are hiring and trusting with private company information. In other words, It gives the employer a big picture snapshot of how a new hire will handle their responsibilities. Most credit checks for potential new hires are done last in the background check process, meaning that usually when an employer runs a credit check they have likely already made their decision. Also, credit checks for employees are most important for roles that require financial analysis or management. 

 

Will Checking An Applicant's Credit Hurt Their Credit Score?

Checking a potential new hire’s credit will not hurt their credit score. An employment inquiry on a credit report is considered a ‘soft inquiry’ which is not visible to other parties. 

Ready To Order A Credit Check For A Potential Employee?

To start the background and credit check click here

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