National Background Screening: Annual Credit Report Service

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Why should you check the annual credit report of an employee?

An employment credit report is created specifically to give you the information that you need when evaluating potential employees or selecting them. The report includes a credit history as well as public records and other information that is not usually included in a job application.

Full credit reports can reveal certain information about a person, particularly in relation to their finances. An employer can usually access information such as the debts on credit cards and debit cards, payment history and defaults, delayed payments and loans.

Annual credit report checks also verify the personal information of an employee or candidate by checking their national ID. It helps verify details such as the name, address, age and other vital information of the candidate.

It is important to know why an annual credit report check is so crucial to the employee screening process. How you manage your finances is directly related to the integrity of any business. Hiring an employee with past financial mismanagement could damage your brand and reputation.

The risk is higher, especially if that position is a senior leadership role or a role that is directly linked to the finances of your company. Annual credit report checks will help you to avoid such risks. How a person manages their finances can reveal a great deal about his or her attitude, intentions, and character. An employment credit report will help you identify any cases of credit default and determine the person's level of responsibility, allowing you to avoid future problems.

What can you learn from your annual employment credit report?

An employment credit report is a modified credit report that's obtained through one of three major credit bureaus. Note that it does not provide account number information, year of birth information and/or references to co-debtors/spouses/partners.

The reported information includes the subject's credit record, including tradelines, public records (such as judgments), collections and bankruptcies. This does not give a credit rating.

The search should only be conducted for candidates who will have significant fiduciary responsibility.

Why request an annual credit report?

Employers may screen a job candidate's employment credit report for one of the reasons listed below:

• As required by law

• Assess the applicant's ability to manage finances

• Trustworthiness of the applicant

• Flag potential issues

An employment credit report that shows a history of late payments could indicate that the applicant is not financially reliable. A large amount of debt can indicate financial distress and even the possibility of fraud or theft.

Employment credit report checks are frequently required in the financial sector. Companies that provide security clearances and government agencies require these checks.

Employers can also request other types of background checks, such as criminal record checks, civil case searches, identification checks, drug screening or employment verification.

What are the advantages of obtaining an annual credit report from National Background Screening?

National Background Screening is backed by a global network of researchers, both in-house and local. We are one of the most trustworthy employment background screening agencies. You can create a credit report screening program that meets your needs using the many search options we offer.

Our employment credit check includes the following features:

• Personal Identification includes Social Security Number

• Address Information, including length of stay at current and previous addresses

• Job Information provides information about the candidate's employment history

• Other names, such as maiden or aliases

• Public Records, including judgments against the applicant

• Credit History gives a clear overview of your financial obligations.