Credit cards. Mortgages. Car loans. These are the types of things that typically come to mind when thinking about your credit. But a bad credit history can do more than ruin your chances of getting a loan or landing a great interest rate -- it can cost you a job. [...]
An estimated one in four unemployed Americans have been required to go through a credit check when applying for a job, and one in 10 have been denied jobs due to negative information in their credit reports, according to a recent survey by liberal think-tank Demos. And the true number of people who have been denied jobs because of this screening process is likely a lot higher, since many employers likely don't admit to doing this, Demos found.
Federal regulations require employers to receive permission from job candidates before running credit checks and to disclose that a negative credit report factored into any decision to deny an applicant. But these rules are difficult to enforce, since employers can always cite other reasons for declining a job applicant.
Read the full report: Discredited: How Employment Credit Checks Keep Qualified Workers Out Of A Job