Credit Report

Turnaround Time: 2 - 4 hours

Info Cubic’s Credit Report provides details regarding an applicant’s current and previous debts, payment history, bankruptcy records, lien and judgments, and current financial status. Credit reports for employment purposes will not have a credit score indicated, and they are a “soft hit,” meaning they will not affect an applicant’s credit rating.

In this age of identity theft, consumers may have placed a “security freeze” on their credit history because of prior theft problems. This means that the consumer will have to contact the credit bureau and have the freeze temporarily “lifted” so a credit report may be obtained by the background screening company.

Did you know

Consumer credit reports are legally permitted when conducted in compliance with federal and state laws and regulations; however, their use in employment decisions has steadily declined. An increased focus on privacy, coupled with the economic challenges many have faced over the last decade has contributed to an environment in which many argue an individual’s credit has limited impact on his/her qualifications for a specific job. Additionally, there are several jurisdictions –on the state and local level – that prohibit the use of credit information in employment decisions unless a specific exemption applies, and a few jurisdictions that require specific language on the disclosure and authorization form (such as California). Please contact your account manager for educational information regarding these laws.

Recommended for

A credit report check can be an important indicator of financial responsibility for employees with fiduciary or cash handling responsibilities, access to expensive equipment, other people's property, or who are otherwise placed in a position of financial trust.

Sources

TransUnion

Turnaround Time

2 - 4 hours

Information Required

  • Applicant Information – Name and date of birth
  • Applicant AKA – Additional names under which an applicant’s record might be filed (maiden names, nicknames, etc.)

Results Guidelines

Consumer credit reports may include: current and previous debts, payment history, bankruptcy records, previous residency history, and current financial status. Credit reports for employment purposes do not include a credit score and are considered “soft” inquiries, meaning there is no impact to an individual’s credit rating. To access credit history information, clients are also subject to additional requirements such as an onsite inspection and thorough vetting requirements. When conducting a credit check for employment purposes, we recommend evaluating if there is a clear relevancy between the credit information and the position’s duties and responsibilities. Further, we recommend consultation with a qualified legal counsel for all employment law matters.

Potential Outcome (Result)

Complete: Report was returned to requester.
Missing Information: Information required to complete the report is missing from the order. Info Cubic can reach out to you for assistance or to the candidate directly using our Applicant Connect product. Call us at 1-888-925-0922 for more information.

Sample Report

Credit (Employment) Report    COMPLETE 
TRANSUNION EMPLOYMENT CREDIT REPORT FOR:   USER REF:
DATE REPORT PRINTED:   11/01/2017
EAF789456123 BUREAU: 10                   CENTRAL STANDARD TIME: 12:20
IN OUR FILES SINCE:    06/2012
 SUBJECT NAME:
DOE, JANE
ALSO KNOWN AS:                             SOCIAL SECURITY NUMBER: 000-00-0000
DOE, JANET                               PHONE:                  575-555-1212
CURRENT ADDRESS REPORTED: 01/2017
123 MAIN ST. ALBUQUERQUE, NM 87101
 FORMER ADDRESS REPORTED:   06/2016
456 SOUTH ST. ALBUQUERQUE, NM 87101
 EMPLOYMENT DATA REPORTED:
ABC COMPANY
POSITION: SALES REPRESENTATIVE
DATE VERIFIED:05/2015CREDIT INFORMATION
-------------------------------------------------------------------------------
SPECIAL MESSAGES:
***ADDRESS ALERT: CURRENT INPUT ADDRESS DOES NOT MATCH FILE ADDRESS(ES)
****HIGH RISK FRAUD ALERT:CLEAR FOR ALL SEARCHES PERFORMED***
-------------------------------------------------------------------------------
THE FOLLOWING CREDIT SUMMARY REPRESENTS THE SUBJECT'S TOTAL FILE HISTORY:
 PUBLIC RECORDS:    0      CURRENT NEGATIVE ACCTS:  1      REVOLVING ACCTS:    0
COLLECTIONS:       2      PREVIOUS NEGATIVE ACCTS: 0      INSTALLMENT ACCTS:  1
TRADE ACCTS:       1      PREVIOUS TIMES NEGATIVE: 0      MORTGAGE ACCTS:     0
CREDIT INQUIRIES:  3      EMPLOYMENT INQUIRIES:    2      OPEN ACCTS:         0
               HIGH CRED   CRED LIMIT   BALANCE      PAST DUE   MNTHLY     AVAIL
CLOSED W/BAL:                          $11.1K       $9000      $350
TOTALS:       $0          $0           $11.1K       $9000      $350
-------------------------------------------------------------------------------
THE FOLLOWING ITEMS ARE FOR COLLECTION RECORDS:
   ABC CREDIT                 Y 123456          OPEN ACCOUNT
ACCT INFO DSP BY CSMR                        COLLECTION AGENCY/ATTORNEY
VERIF'D  11/2017   BALANCE:    $1000        INDIVIDUAL ACCOUNT
OPENED   02/2017   MOST OWED:  $1000        10 CONSUMERS ENERGY
PAST DUE    $1000
STATUS AS OF 11/2017  COLLECTION
   CREDIT BUR                Y 234567          OPEN ACCOUNT
PLACED FOR COLLECTION                        COLLECTION AGENCY/ATTORNEY
VERIF'D  11/2017   BALANCE:    $100         INDIVIDUAL ACCOUNT
OPENED   06/2015   MOST OWED:  $100         MEDICAL
PAST DUE    $100
 -------------------------------------------------------------------------------
THE FOLLOWING ACCOUNT INFORMATION IS PRINTED IN ORDER BY MOST NEGATIVE MANNER
OF PAYMENT (MOP) AND DATE MOST RECENTLY UPDATED.
   AMER HONDA                Q 789456           INSTALLMENT ACCOUNT
REPOSSESSION                                 AUTO LEASE
VERIF'D  06/2017   BALANCE: $22456          JOINT ACCOUNT
OPENED   05/2015   MOST OWED:  $9000        PAY TERMS: 36 MONTHLY $350
CLOSED   05/2017   PAST DUE:$9000
STATUS AS OF 05/2017  REPOSSESSION
-------------------------------------------------------------------------------
THE FOLLOWING COMPANIES HAVE REQUESTED A COPY OF THE SUBJECT'S CREDIT REPORT:
   DATE         SUBCODE     SUBSCRIBER NAME
   03/20/2017   98765432    ABC CREDIT
02/11/2016   12345678    BOBS CREDIT
10/14/2015   B3293320    AMEX
-------------------------------------------------------------------------------
THE FOLLOWING COMPANIES HAVE REQUESTED A COPY OF THE SUBJECT'S FILE FOR
EMPLOYMENT USE:
DATE         SUBCODE     SUBSCRIBER NAME
   11/01/2017   E4567891    ABC COMPANY
04/01/2016   E9876543    XYZ CAPITAL
-------------------------------------------------------------------------------
EMPLOYMENT CREDIT REPORT SERVICED BY:
 TRANSUNION
2 BALDWIN PLACE, P.O. BOX 1000
CHESTER, PA 19016
800-888-4213
CONSUMER DISCLOSURES CAN BE OBTAINED ONLINE THROUGH TRANSUNION AT:
HTTP://WWW.TRANSUNION.COM
                             END OF TRANSUNION REPORT

FAQ

Q: No information was provided on the Credit report due to a Security Freeze on the applicant’s account. What does this mean?

A: Individuals may place a security freeze, or “credit freeze” on their credit in order to restrict access to their credit report, which makes it more difficult for identity thieves to open new accounts in their name. The applicant may temporary lift the freeze in order to allow us access to their credit report. It is important to note that we cannot obtain any credit information until the applicant has taken the appropriate steps to lift the freeze.

 

For further details, call us today at 1-888-925-0922

The Cube Feature

The Cube has several safety nets to ensure credit reports are not made available to customer or end users who do not have proper authorization to order credit history. That includes an account-level setting that enables ordering credit searches plus some configuration steps to enter the proper codes specifically assigned to that client.

When a Credit Report is ordered, Info Cubic will make available the actual details of the credit report. Credit reports for employment purposes do not include a credit score and are considered “soft” inquiries, meaning there is no impact to an individual’s credit rating.

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