are credit scores racism?

[Capt. Orygun]

Credit checks: A civil-rights issue? - MSN Money

for reference I'm white, have my own office, and my credit score sucks

discuss

 

[reckedracing]

why does your score suck?

 

[lsvtec]

Correlation does not equal causation. I don't see how, on average, a minority having a lower credit score than a non-minority shows racism. It should push people to look into the causes and they might determine that race is a factor but I suspect that it is only in that it can (but does not necessarily) effect the socio-economic and educational opportunities someone from a minority group may or may not come across. Interesting article, though not enough substance for a conclusion. I think that more investigation is in order, though it may be a solely academic question.

IMO a more interesting question is should your credit score be a factor in hiring? Personally I do not think so, but at this point I cannot offer any solid proof to back my opinion, just anecdotal evidence.

 

[posol]

credit score shows more than just financial data... it shows responsibility.

 

[Airjockie]

"IMO a more interesting question is should your credit score be a factor in hiring? "

it is where I work, if I was wanting to get he Yankee White Security clearance... IF my credit is bad, then it will look like I need money, and I might be tempted to sell secrets...so I can't get the upgraded job...but of course it's a job that works on the prez's helicopter...

 

[Capt. Orygun]

why does your score suck?

I dunno, I rarely have a late payment of any kind. I've had Credit Cards before, loans, always kept up with it. I pay 90% of my bills on the 1st and most aren't due till like the 15th of the month

I ran a credit check last month and there were a couple credit cards and a loan that still showed open on there, all of them had been paid off/closed awhile ago. I got in touch with the companies and it's fixed now

there was also a $55 charge from 2003 that was from an apartment, I had ran into my roommate when I got it and he said to give him half the money and he'd take care of it. Well it never got paid, and he put my name on it when he turned in the key.

thanks ass

EDIT: So I took care of all of that and now I have a capitol one card I pay all my bills on and then payoff entirely at the end of the month. I'm hoping it should help, if not I get some skymiles out of it

 

[lsvtec]

Sure, but my credit score coming out of college wasn't that great. I was carrying too much debt and I hadn't started my job. On that basis I should not have been hired. Now that I have a job, own a home, and am debt free my credit score is awesome. I wonder how is someone supposed to be able to improve their credit when an income is required to do so, and poor credit prevents them from obtaining a job that pays well.

 

[lsvtec]

"IMO a more interesting question is should your credit score be a factor in hiring? "

it is where I work, if I was wanting to get he Yankee White Security clearance... IF my credit is bad, then it will look like I need money, and I might be tempted to sell secrets...so I can't get the upgraded job...but of course it's a job that works on the prez's helicopter...

A good point, so perhaps on some jobs. But the job described in the article I am not so sure about.

 

[totalburnout]

Correlation does not equal causation. I don't see how, on average, a minority having a lower credit score than a non-minority shows racism. It should push people to look into the causes and they might determine that race is a factor but I suspect that it is only in that it can (but does not necessarily) effect the socio-economic and educational opportunities someone from a minority group may or may not come across. Interesting article, though not enough substance for a conclusion. I think that more investigation is in order, though it may be a solely academic question.

IMO a more interesting question is should your credit score be a factor in hiring? Personally I do not think so, but at this point I cannot offer any solid proof to back my opinion, just anecdotal evidence.

Welcome to 9th grade. "Correlation does not equal causation." You must have had the same teacher as myself.


Why should employment not hinge upon credit score if a critical aspect of the job were money handling or responsibility? Do you believe that if a person were so financial irresponsible that they ruined their own credit, that they would treat another person's financial assets in a more responsible manner? My thought process says that one is more likely to respect their own property and financial interests in comparison to a third party's financial interests. This gives insight into why a potential employer would be very interested in an employee's financial history.


...but hey, what do I know? Thats the whole, "I don't want anyone else fucking with my money" part of me.

 

[lsvtec]

Again, only anecdotal, but see my earlier story about my credit score coming out of college. It doesn't necessarily mean that they screwed up, how about just wanted to get a degree and have the opportunities that a degree provided them.

Directly from the article:

So far, there's a lack of data supporting a relationship between bad credit and theft by employees. In perhaps the only study published on the subject, Jerry Palmer and Laura Koppes of Eastern Kentucky University in Richmond in 2003 found no correlation between employee credit reports and negative performance or termination for dishonesty.

An interesting rebuttal.

 

[Celerity]

My mother gets turned down for call center jobs because of credit. And her's isn't that bad - it's just 'stagnant'.

Yeah, it's not fair. We should, as a country be standing up against this, wife-beaters, child rapists and other assorted dirtbags and stupid concepts that ruin our psyche as a single people.
Instead we go and on about what political party you're on.

 

[totalburnout]

Again, only anecdotal, but see my earlier story about my credit score coming out of college. It doesn't necessarily mean that they screwed up, how about just wanted to get a degree and have the opportunities that a degree provided them.

Directly from the article:


An interesting rebuttal.

Irresponsibility does not always lead to left, correct, but perhaps it leads to back business practices or decisions which is a bit more hidden than theft and what I was eluding to in the first place.

Also, by having debt your credit score will not be terribly low. Late payments and other acts of irresponsibility are what really kill your credit score. So your anecdote about putting yourself through college and poor credit does not always hold true. In fact, if I put myself through college on my own, my credit score is going to sky rocket so long as I actively pay the debt off.

 

[lsvtec]

My story about me is relevant because I missed 2 payments to my credit card while in school, my credit score was low when I graduated.

This is the crux of my reason that for most jobs a credit check is unreasonable. I have no contact with corporate finance, so all I can reasonably think that a credit check would do for the company about my position is determine whether someone gets a corporate credit card. Low credit does not prevent someone from doing my job.

 

[posol]

but it does show a possible chance of irresponsibilty, showing up late, and so forth.

 

[lsvtec]

Sure, but the article claimed that there was no significant link between credit score and performance at work. I don't know enough about the subject to offer more than that. Just an interesting point to consider.

 

[posol]

yeah, i don't care either way. When I hire, I look at what you can show me you've done, and if your english is understandable (sorry, but we get a lot of indians and asians who, while can type perfect, you simply can't understand a word they say. And when half of the job involves communicating with clients on a regular basis, its a huge deal for me.) I could give a shit less about schools, degrees, or anything else, and in fact rarely even look at it on the resume'.

 

[klyph]

This woman is only perpetuating racism. Racism is using a statement that applies to the majority of a race and trying to apply it to ALL of the race. So, her using the fact that most minorities have a lower credit score is being racist. The fact that she is trying to twist it around to her favor should make her people disappointed in her for being such a whiny fucktard. Her credit score is NOT affected by her race, so implying that a credit score is racist just because the rest of her people have low credit scores is the dumbest fucking thing I have heard in a very long time. This woman does not deserve a job ANYWHERE. This is what happens when the "Sue anyone for anything" mentality meets the "Play the race card" mentality. America at it's worst.

 

[Capt. Orygun]

This woman is only perpetuating racism. Racism is using a statement that applies to the majority of a race and trying to apply it to ALL of the race. So, her using the fact that most minorities have a lower credit score is being racist. The fact that she is trying to twist it around to her favor should make her people disappointed in her for being such a whiny fucktard. Her credit score is NOT affected by her race, so implying that a credit score is racist just because the rest of her people have low credit scores is the dumbest fucking thing I have heard in a very long time. This woman does not deserve a job ANYWHERE. This is what happens when the "Sue anyone for anything" mentality meets the "Play the race card" mentality. America at it's worst.

I would just like to point out, without slandaring any group of people, that both "Sue anyone for anything" and "Play the race card" are left wing ideals

 

[TWAN]

I would just like to point out, without slandaring any group of people, that both "Sue anyone for anything" and "Play the race card" are left wing ideals

Amen to that

 

[DarkHand]

(sorry, but we get a lot of indians and asians who, while can type perfect, you simply can't understand a word they say. And when half of the job involves communicating with clients on a regular basis, its a huge deal for me.)