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Posts: 10,116 6/4/10 4:46 P
I sure can understand how you decided that it wasn't worth going on with the interview and also thought it was very smart to not go with the free trial too. It's really good reminder to read and be aware of all that underneath fine print eh.
Fitness Minutes: (12,798) Posts: 10,081 6/4/10 4:39 P
I'm not an HR person, so I can't tell you why they do it or what exactly the privacy laws or discrimination laws are regarding credit. I guess you are more up on that than I am, so I am not going to argue the differences between the US and Canada If anyone here knows the answer for the US, please let us know. I apply to a job and fill out the necessary paperwork when hired and it usually includes the credit info. It was just the way this one came up in my email that got me thinking it wasn't worth it to continue on with the interview process or whatever you want to call it without know if I would actually get an interview.
It's not a practice up here and I suspect it may be due to different privacy and discrimination laws. Just because I'm broke or have a low credit score doesn't mean I will steal. That's no different than any other form of discrimination. In fact the ones I know personally who did embezzle had money, it wasn't for lack of money that they stole - they didn't want to use their own money for the toys they were purchasing and the trips they were taking. Seems like a really unfair discrimintory practice.
Fitness Minutes: (12,798) Posts: 10,081 6/4/10 2:42 P
I don't know exactly what employers look for when they do a credit and background check. It has been done for years here, especially when working for stores. I guess they want to make sure you aren't going to embezzle money from them to pay your bills. I believe you do have a right to decline and personally I don't think it is anyones business to look at in order to get a job. It is one reason why I would want to get a job, to pay off bills and to keep good credit.
I have never been asked about my credit score in a job interview or application and no one I know up here has ever had that happen. It isn't their business. If I have poor credit, my gosh wouldn't getting a job assist with moving past that? Even if I worked in a bank or accounting firm my credit score is not a reflection of my work ethic. How do they know what reasons I have for having a poor score - they don't know. If it reflects that I'm not good with money, then its a fallacy, a judgement and a false belief unless I ran down the company's money. My own personal account has nothing to do with who I'm working for. I cannot imagine how that's ever become part of a job interview. Personally if I was asked I'd tell them to refer to the Privacy Act here in Canada and walk out.
Now that I'm done the rant *laughing* back to you. Good on you for deciding not to go through with signing on. What a gimmick to say since an interviewer is looking at your score, you should too. Yes you should know your score if someone is checking it but still, its a gimmick. And down there someone can just randomly check your score? I don't understand how that can happen. Don't you all have privacy laws down there too?
Fitness Minutes: (12,798) Posts: 10,081 6/4/10 1:10 P
I've been apply for jobs online and one day I get a notice from a credit reporting place (free) saying that the employer (what employer it didn't say) is reviewing your credit info and that I need to request the same. I looked at it and of course, it is free for the 1st 30 days. I thought no way am I doing this for a job, because 1-it asked for credit card info and 2-my luck it I would forget it and then be charged who knows how much. I thought if it meant losing a job opportunity, it wasn't worth it. I know employers look at that stuff, but the way this came over, I thought was just weird.
Kim thank-you for sharing the article. Up here in Canada you cannot get a free credit report, there is a fee unless you apply direct to Equifax. (I believe that's the name) We have a different system up here than you all do in the USA with this stuff. The bottom line is though, always always always read the fine print and really understand what you are signing up for as often free trials (regardless of country) aren't actually free.
That is ridiculous about your friend and her mother. How is it that a woman can work hard, obtain a home and pay it off, incur no debt and then be informed "you don't have enough credit history." That's bogus. As far as I'm concerned that is discrimination and it makes me wonder, if her mother was actually her father, would he be refused the lower premium? I doubt it.
There is no excuse for that. Besides, her mother is an elder and as such, should be given honour including breaks in things like insurance. That's what my brother and I figure, that elders are to be honoured by society and not made to continue paying through the nose for everything.
Fitness Minutes: (52,856) Posts: 4,379 6/2/10 8:52 P
What a great topic! Unfortunately, I don't know mine right now (not good, but it was GREAT at one point). My co-worker is dealing with the downside of this right now. She's about 65, living in a house owned by her mother, who's bedridden & whom she takes care of. So now the insurance rates go UP because her mother (over 85) has NO credit cards or other outstanding debt. No way to lower the premiums because of "not enough credit history", even though the house is paid for. Are you kidding me?!?!?
Sveiki! Central time zone
Posts: 10,116 5/31/10 1:59 P
It is definitely true that they take everything into consideration. I don't own a home, never have. Years back when I had good credit I was able to borrow money because I was living common-law relationship and the money was to provide seed fund for our company. Flash forward, I go in as a single person, my name is not on the company so it is not a factor in this (as it went bankrupt) and had a hx with the bank of paying back all my loans. I was refused. Even with my mother co-signing and practically signing off the farm worth around $200,000, I was refused. Even when I returned years later and said "I've been in the same job for over 15yrs, is that enough stability" I was refused.
I know that there were other factors by that point, as I had been messed around earlier by a bank loan manager and she ensured that my credit score was ruined, however, I was told straight out if I had a husband who could secure the loan then she'd be inclined to loan to me.
It's a piece, not the whole and when it works in with other factors it can be a deciding point. When you factor in for me as an example, in one year I will have paid off my debt. A year later I go in for a loan - no children, almost 50yrs old, unstable work hours that flucuate between 20-40hrs per week with average of 30hrs, same company for 20yrs+ and renting - all those will factor in and I suspect I will not be provided with a loan.
I was informed a few years back that the only way I can improve my score is by getting married.
So yes, it does factor in.
Regarding the age they have to start re-thinking this old way of looking at age. Many of us so-called baby boomers (as I'm at the very end of that boom) will be working up to 70yrs if not over. My aunt only recently fully retired at 70yrs. My uncle still works part-time casual at Chapters, he's around 75yrs old. I suspect my uncle will work until they don't want him and they like him, so he'll be there till he's 100yrs old if he can get away with it. People live over 100yrs now, not like the old days, so it's time creditors started to realize this too.
It's antiquated as far as I'm concerned - time to move forward. Seniors and singles are becoming the fastest growing sector of the population and it's time creditors, tourist companies etc start to realize that and conform to our needs!!
Great Article & sounds like it's similar in the states also. I don't like the credit score as I think each individual situation is different & the score tries to average everyone into one group. They assume the 65 year old group isn't working, yet Social Security wants us to work until 70 to get full benefits! BUMMER!
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December Minutes: 97
Fitness Minutes: (12,798) Posts: 10,081 5/31/10 10:29 A
Interesting! I'm not married either, no kids unless you count my dogs, but I do own my own house. I know my credit score was decent at one time, without all those things...so is it really true they take all that into consideration? Sad if it is!
Apparently my being single, having no children and living in an apt are not good things when creditors are assessing score. Hmph. I'm so not getting married and having 2 children, then begging for a home to get a good score. (apparently 3 children or more is bad) And here I was under the illusion that all you had to do was pay off your debt to score high. I don't quite get the judgements that are made. Even though it's Canadian, I'm sure it's similar to other countries.
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