Ramsey County

Making $ense of Dollars and Cents

November 2004 - Number 2

Employers & Credit Ratings

Several times in this column we have mentioned periodically checking on your credit rating to make sure all is in order and a true reflection of your financial situation. But what about others checking your credit history?

Does an employer need my permission to look at my credit report?

Yes. Since revisions tot he Fair Credit Reporting Act were passed in 1996, any employer or potential employer who wants to review your credit report must obtain your written permission to do so. If the information in a credit report plays apart in a decision to deny you a job, or any "adverse action: (such as firing or demoting you or reducing your salary), the employer must provide ac opy of the report and information about your right to sidpute any inaccurate information.

Can a potential employer see everything in my credit report?

No There are certain kinds of information in your credit report that employers are not allowed to see. They are allowed to see information about payments on your loans and credit cards - but they are not allowed to see your account numbers. They are not allowed to have information about your marital status or your year of birth.

Why are some employers allowed to check on my credit history? What does credit have to do with getting a job?

Some employers use credit reports to judge job applicants’ integrity and responsibility for personal financial matters. If your report shows that you handle your personal finances we\ll, an employer might conclude that you will handle the companies’ affairs responsibility too. Employers also use credit reports to verify information supplied on job applications.

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524 4th Ave #5, 2nd Floor Ramsey County Courthouse
Devils Lake  ND  58301
701-662-7027
email - ramsey@ndsuext.nodak.edu