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How much weight does a credit check have in gaining employment?

I was wondering two things. First, what is the purpose of a credit check for employment at places like WalMart? I understand background checks, but a credit check? Also, if I do not have good credit, does that mean I cannot be hired for places like this? I just really don't get the point of it if everything else is fine why a credit check matters. Please explain.

Public Comments

1. IF you are hired at a place like a bank or anyplace that you handle money, if you have poor credit they feel you are at poor risk for handling "their" money. That is why they do the credit checks. I find it rather discriminatory too. But it's the law. I would look at other jobs. Walmart isn't the best place to work or retail either. LOL.
2. More and more businesses are using credit checks as part of pre-employment screenings. They may do this under the law as you are potentially entering into a business relationship with them. It is not just banks who do this. Manufacturing job screens typically involve credit checks. In fact, about the only places that don't use them are places like Manpower and Kelly for temp placement and minimum wage jobs. The reason they do this is two-fold. First, many places equate good credit with overall responsibility. My personal feeling is that this is unfortunate. Anyone can fall on hard times and those who are job hunting are generally doing so in order to meet their obligations. Second, it's an employer's market out there. With few jobs and millions seeking, employers can afford to hand pick their employees and are using credit scores to that end. It's neither right nor fair, but it's done. A person can have a FICO in the 800s and be a total waste of space, then the next person can have a FICO in the 500s and is a good person (and would probably be a good employee, if given the chance). When the self righteous s.o.b.s on Yahoo answers start bleating about all people with poor credit probably wanting to steal from a potential employer, I always refer to old Bernie Madoff. I bet he had a great credit rating.