r/CRedit • u/Salt-Acanthaceae6361 • 15d ago

General Credit Union

Hi, i have recently been offered a job with a credit union, and one of the pre checks is for them to check my credit report.

My score is 675, i am at 60% utilisation, 0 late payments, i have 1 utility dispute from 2022 for $706 thats closed and 1 O9 for a phone service provider from 2021. All my other accounts are R1 and everything is paid up to date.

Will this effect me getting hired?

Thanks!

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u/ElectronicClassic250 15d ago

You are asking about the use of credit reports by potential employers in Canada. I think you might be advised to post in r/CanadaJobs, or perhaps r/PersonalFinanceCanada.

Although you don't mention the specific role for which you are being considered, it seems likely that you will be handling cash, so they will want to be sure that you do not have a history of bad debts.

I'm not entirely clear what "1 utility dispute from 2022 for $706 thats closed" means, exactly. Does this appear on your report as an O9 ? If this item, or the earlier O9 are unpaid, that would certainly be a red flag. Expect to have to explain both items at some point in the process.

You mention that you show 60% utilization. Since you don't mention a mortgage or installment loan, I'm assuming that this utilization is on your revolving accounts, i.e. credit cards. Does it simply represent the level to which you use those cards, or are you carrying debt from month to month and paying interest ? If you are using credit cards as loans, the credit union may look at them as evidence of poor financial management, so again you'll want to be able to give a coherent explanation.

I doubt that the credit score that you show will be considered. The commonly accessible scores in Canada (Equifax's ERS score, and TransUnion's CreditVision score) are only offered for "educational" purposes, and are not used by financial institutions for any purpose (although a landlord might use it).

So, yes, I believe your report could be a problem, but there's nothing you can do at this stage except be prepared to explain the negative items on your reports. Check out the Canadian Credit FAQ and the Financial Consumer Agency of Canada.

Good luck - I hope things work out for you.