Work - Credit Checking me monthly?!

Lucy901

Hi all,

Just looking for some advice on credit checking from my company. (apologies if this is in the wrong place)

Recently my company have advised they wish to check my credit file monthly. I do have good stable credit i am not comfortable with them checking each month my credit score, i feel this is far too intrusive and a breach of my liberty. I don't mind them checking if i had a CCJ, Bankruptcy or IVA i can understand this with the business i am in however this just seems too far and a bit too big brother for me :undecided .

The reason for this is to 'monitor fluctuations' someone from the team will monitor this and also state that if the checks were too infrequent they may not be able to provide support to us in time. Any defaults and they would be notified.

If there was an issue a manager or HR rep would be in contact to understand my current situation and how they could support me... (Just to add here these people are not qualified in debt management or advising in this kind of situation) If there is a dramatic change them the Manager or HR rep would see my score

The company also state that running the credit check won't affect my credit score however i am not convinced.

Basically what i am wondering is... are they allowed to do this?!

Thanks in advance

pappa_golf

your credit "score" is a made up number , often bearing no relationship to your creditworthiness , if (for example) expedian decide to lower your score by 200 because they are having a sale on a "recommended" product , and hope to temp you , does this put you out of work?


I would go no further than allowing them to choose one single company (CRA) and paying your access on proviso that the got a printout of any late payments or defaults ,

[Deleted User]

What is it exactly they want to check? It won't be your score as no one sees it apart from you and it wouldn't tell them anything.

Is it a full search? Or a top line CCJ type search? I imagine the latter.

Lucy901

According to the Q&A they have sent through they will have access to my credit score. Someone from HQ would see it and monitor changes and if there is a dramatic change my managers and HR Rep would be able to see it too

We used to have the top line CCJ check once a year however they're now upping their game and monitoring fluctuations in our credit score

[Deleted User]

They're definitely not. They've obviously worded it badly.

Unless they have give the CRAs their own criteria for them to generate a a unique score for them, but that's not cheap.

nb0825

Unless you have something to hide, I wouldn't worry about it. It's a soft check they're doing, so no mark on your credit file. They don't receive any information that would be different from what you volunteer to a credit card company or a bank. I'm sure its something to do with the industry you're in, otherwise why would they do it?

[Deleted User]

I have a hard time believing this. Even with the highest levels of government security clearance they don't check yearly, let alone monthly.

I work in the financial services sector and have never heard of this.

Richey_

Government security clearances do check yearly, shows up as a soft check on Experian but only yearly. Depends on level, some are as little as ten yearly depends on what your individual job requires security clearance wise.

GingerBob_3

Richey_ wrote: »

Government security clearances do check yearly, shows up as a soft check on Experian but only yearly. Depends on level, some are as little as ten yearly depends on what your individual job requires security clearance wise.

What sort of check is it? Identity? Presumably they don't get access to credit data - only those who contribute credit data can also access it - I think :rotfl:

GingerBob_3

nb0825 wrote: »

Unless you have something to hide, I wouldn't worry about it. It's a soft check they're doing, so no mark on your credit file. They don't receive any information that would be different from what you volunteer to a credit card company or a bank. I'm sure its something to do with the industry you're in, otherwise why would they do it?

We've all got something to hide. This is the argument that would let government spy cameras into our bedrooms.

Brooker_Dave

Tribunal time, thin end of the wedge...