Despite Dave Ramsey recommendations, I’m focused on my credit score and I try to encourage you to stay on top of yours as well. I’ve had the same credit card for 11 years (always carried a balance until last month) and I pay my mortgage on time – even if that means not eating… or selling something.
Sure, if I had no debt and had no plans or acquiring new debt, my credit score wouldn’t matter…
Or would it?
I was reading Parade magazine this week and was reminded of a very important reason to keep up those scores – employment. Employers are using credit scores as another way to narrow down candidates. In this rough job market, that’s the last thing you want to worry about.
My current employer ran a credit check on me prior to offering employment. I had been unemployed for 2 months but had managed to pay my bills. Had my credit score fallen, I likely would have been passed over.
Congress is considering blocking this practice but right now, it’s very legal.
Do you think credit checks are a fair way to judge potential employees?
You can read the article at Parade.com/creditscore