By Robert Linkonis Sr.
In trying to dispel this idea altogether, I have noted many cases - all exposed in this blog - but Suze Orman's recent campaign to promote her new Prepaid Debit Card – in which she eludes to the fact that not having a FICO score could cost consumers a job... Whaaaaaaaaaa ???
Suzi and I have never been friends, but -- what is she telling her prospective customers?
Here's the truth: Credit scores are never sold by credit reporting agencies for employment screening purposes.
Here's how you can be sure: The only three agencies authorized to distribute credit reports are – Equifax, Experian and Transunion. Because you can't get a credit score without first getting a report from those agencies, employers would have to go through those companies if they wanted your credit score.
And all three agencies all said the same thing. *** They do not sell credit scores to employers for screening purposes.
If affirmation from the national credit reporting agencies are not enough to convince you that credit scores ARE NOT used by employers, the Consumer Data Industry Association, the trade association of the credit reporting agencies, confirmed the same thing: There is NO credit score provided in a credit report pulled for employment screening.
Experian says that: "The employment credit report includes much of the information about your loans and credit cards that is listed in your credit report". BUT NOT YOUR CREDIT SCORE!!!
To pull your credit report and score, one must be a - "financial institution" and have a - "permissible purpose" to purchase a consumer credit report. AN EMPLOYER IS NOT A FINANCIAL INSTITUTION WITH PERMISSIBLE PURPOSE to pull a consumer credit report that includes your credit score.
Bottom line - a potential employer CAN pull your credit report and see all of your credit history - both positive and negative. They can use this information to make a decision on whether or not to hire you, but they can not see your credit score.
Please call anytime with all questions and ... Always feel free to "LIKE" Credit Restoration Associates on Facebook: http://www.facebook.com/Financed1
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