Clarifacts

Credit Score

Credit Score

Is a credit score provided when you run a pre-employment credit report?

No, a credit score is not used in a pre-employment credit report. Credit scores and credit reports serve two different purposes.

Credit reports, for employment purposes, provide a profile of your applicant’s personal financial management history, including indebtedness, payment history and public record information such as tax liens, judgments and bankruptcies.

Credit scores are used by lenders to determine an individual’s creditworthiness for purposes such as a mortgage, loan or credit card. The credit score can affect whether or not an individual gets approved, and the interest rate her or she will be charged. A credit score is not provided in a pre-employment credit report because you aren’t using the credit score to evaluate an applicant’s credit history for lending purposes, as we aren’t granting credit for anything.

Learn more about the “two do’s” of using credit reports in the hiring process to stay compliant with the Fair Credit Reporting Act and Equal Employment Opportunity Commission.

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