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R. Klein, EA
R. Klein, EA, Accountant
Category: Finance
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Experience:  TurboTax Expert. QuickBooks Certified Pro Advisor
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My credit score is 500. How much will it affect my ability

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My credit score is 500. How much will it affect my ability to find a job? I'm 60 and need to get a better job because my kid defaulted on co-signed student loans. I have to pay these loans off before I can retire. I'm thinking about moving to consulting. My current job is in health care info tech, and jobs are plentiful right now.
Hi and thanks for your question.

Your credit is not a factor in finding most jobs, except in certain industries like banking and finance.

Most small to medium private employers don't even check your credit.

Certain government jobs or jobs in the finance sector may check your credit, but mostly to see if you are a risk for on-the-job theft. Those with poor credit histories or in financial straits are deemed more likely to be the ones who steal from their employer. Whether or not this is true is not a factor; it's simply the impression of certain employers. Larger employers will also likely include a credit review in their background checks.

If you stick to smaller and local employers, I don't think it will be a factor at all.

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