As part of a background check, many companies will take a look at your credit report. Some companies feel a credit report will provide some insight into who you are as a person, as well as information about your work ethic.
Character
If you are applying for a job where you will be dealing with money, many companies will take a look at your credit report to see if you are paying your debts on time. This provides insight about your ability to handle money for the company.
Theft
A company may be concerned about the amount of credit you have outstanding. Someone with too much debt, or bad credit, may decide to steal or embezzle money from a company if they are handling money on a daily basis.
Security/Government
As a matter of security some companies will take a look at your credit file. If the job you are applying for requires you to have a security clearance then the company wants to make sure your credit history is in good shape. If you have bad credit or a lot of credit you could decide to divulge top secret information to another country in exchange for cash. This is a concern for government agencies.
Significance
A company must receive your written permission before they take a look at your credit file.
Considerations
If you are not hired for a job because of your credit report, the company must let you know that their decision was based on your credit file.
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