So for the first time I received a copy of my background check report ( after I rejected the offer ) from the agency doing the check. I was surprised ! While everything else was fine ( as expected ) but the credit union report had a note:- “WARNING MESSAGES - 003 inquiries on file” Why would an employer be interested in how many inquiries there are on my credit report ? Could it cause any issue in job offers I’m interested in ? ( my job profile is software development not asset / money/cash manager )
It should not normally matter. Too many inquiries could signal you are in debt and looking for credit desparately. If your job requires you to manage money or have access to funds, it would not be wise to trust you. Just imagine handing over some tasty food packet to a person starving for 3 days and saying, “Please watch my food for a minute, I will be right back”. Other inferences could be made as well.
I’m a techie
Never imagined this would happen. A lot of people including me churn credit cards. Hope they let you explain why.
Yeah me too a bit
Yeah, when I moved to the US I got turned down for a JC Penney card (?😂) due to too many credit inquiries (new house and mortgage, new credit card personal, new credit card work, new car loan). WTF did they expect? 800 otherwise 🙄
Credit is built over time with discipline. Avoid store cards. It is true that it is hard initially if you are new to US. There are new Scoring algos which consider precisely such people with less credit history but have other good characteristics. Google UltraFICO.
@dude58 - if you were new how did you manage all the other loans n credit lines ?
What is typically checked in a background report?
All or some of your educational, employment, residential history , criminal records in all states in the US ( or just ones you’ve lived / worked in ) , credit history, some may go a step further and verify all these in your country of citizenship as well if they have the time and money.
Chances are that the company pre-purchased a certain volume of reports configured in a set package to get a bulk deal and credit is a flag for some positions. They just run the credit option on all reports to make it simpler and more cost effective than choosing customized checks for each position.
That sounds reasonable...
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For work with clearance, yes
They do a check with the SEC for that