Sandy recently took a job interview at a 4A advertising firm.
“Once you pass the final round of interviews, we’ll need your consent to let us review your report from TransUnion,” said the HR lady.
“OK,” Sandy replied mindlessly while filling out her job application.
It was only after the interview when Sandy wondered: she’s simply applying for a designer job at an advertising firm, not a financial institution. Why would they ever need to check her credit report? Isn’t that crossing the line of personal privacy?
The fact is, it is common for large companies to ask job applicants for their credit reports, especially if the job deals with money. If the company’s business involves handling financial matters, or if their partners or clients are related to financial services, the company would naturally want their employees to maintain good credit records – even when the position has no direct relationship with finances.
Your credit report contains your lending activities, including credit card balance and payment history, personal loan limit, and mortgage payment history. TransUnion, Hong Kong’s first organization to provide credit information services, uses all of this credit-related information including loan repayment history, aggregate balance, length of credit history, types of credit accounts and opened credit accounts to calculate your credit score. Delayed loan payments, foreclosure, bankruptcy and overdue notices will all appear on your credit report which might directly impact your credit rating.
Do keep in mind that credit reports obtained by company HR staff aren’t quite the same. Personal data such as credit card numbers won’t appear on these reports, and TransUnion will send the job applicant a copy of the same report. If you don’t want to submit your credit report, you have every right to refuse. But if you’ve been keeping a close eye on your credit history, then there’s nothing for you to worry about.
Established in 1981, TransUnion Hong Kong built Hong Kong’s very first credit database. For over 40 years, TransUnion has maintained credit histories for millions of consumers and businesses in more than 30 countries. To own a decent TU Grade is not only a globally recognised credential that brings you a step closer to your goals, like owning a home, studying abroad, start your business, it also allows you to prove your value over competitions, prepare for new opportunities and moving up your career ladder!
Related article: How to Read a Credit Report?
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Do you know your credit score? Develop good credit behaviors