How Can You Improve Your Credit Check Results?

There are many types of background checks available, and credit checks are just one of them.

 

A credit background check provides relevant information about a candidate’s credit history that will help your recruiters properly assess and manage the risks of hiring new people into the organization.

 

When your hiring manager conducts a credit background check on you, they will receive a detailed report about your credit ratings, details of any outstanding or previous debts, your personal information, any filed bankruptcies, and more.

 

Credit background checks are common for jobs that require handling cash like a cashier or managing large sums of money on behalf of someone like an investment banker.

 

Many job seekers and employees might be worried that your credit report might not be as good as recruiters want to see. You might be concerned that your credit check results might put you into the rejected pile.

 

Whether you have concerns in your credit report or not, here are some ways you can improve your credit check results.

 

Pay on Time Each Month

 

Paying your debts on time each month, whether it’s credit card balances or something else, is important to maintaining and good credit score.

 

If you can’t make the full payment on time, pay at least the minimum required amount, so you don’t face any penalties or interest on owed amounts. If you anticipate having issues with paying a bill, contact the lender right away to discuss an alternative or temporary arrangement.

 

Paying your bills on time is one of the easiest and most obvious ways of showing recruiters you have financial responsibility.

 

Use Your Credit Wisely

 

It’s important to remain within your credit limit. Spending more money than what you’re authorized to spend will lower your credit report results.

 

You should also be aware of how much of your credit limit your spending each month. Experts recommend a credit utilization rate of below 30%, and some say to even aim for below 10%. <link to:

 

Limit the Number of Credit Checks You Do

 

Every time a hard credit check is conducted, your credit score is impacted.

 

Other times a hard credit check is done is when a lender or company requests a credit report for your loan application, such as a mortgage.

 

However, soft inquiries, like the credit check verifications that your potential employer conducts will not impact your credit report.

 

Be Patient

 

Improving your credit report results isn’t done overnight.

 

You should be patient with yourself while following the best practices mentioned above. Over time, your credit report will improve.

 

At Triton, we assist both individuals and organizations in obtaining background checks like credit reports securely and easily.

 

To learn more about how we can help you, call us at 1-844-874-8667 or visit www.tritoncanada.ca.