Evaluate Applicant Financial Responsibility Through Credit History Check

A Credit History Check offers insight into an applicant’s fiscal responsibility and financial history. Credit report results typically include address history, alias names, charge-offs, collection accounts, monthly payment history, eviction, and other financial events.

The FCRA requires permissible purpose to pull a credit report. Several states have placed restrictions on the use of credit reports as a determining factor in employment. These states may require additional disclosures on the consent form prior to running a credit report. An employer should only use a credit report when it specifically relates to the job position. Employers must have appropriate policies and procedures in place to ensure proper use of the credit report as a factor for determining employment. Employers in the financial sector most often use credit reports. They also use them for positions with high fiscal responsibility, such as executive and senior management positions.