FAQ: Why is My New Job Not Showing on My Credit Report?

FAQ: Why is My New Job Not Showing on My Credit Report?

FAQ: Why is My New Job Not Showing on My Credit Report?

Employee of the Month Reserved Parking Sign (Photo credits: myparkingsign.com)

There is no requirement that the credit bureaus , Experian, Equifax and TransUnion  track your employment history in real time.  Neither is there a requirement that your new employer forward this information to the credit bureaus.  It may be counter intuitive but the type of work you do or the salary you make are irrelevant to your credit score.

New employment information is typically added by the bureaus when a new submission is filed new information.   This happens when you apply for credit after getting a new job.  Your new employer may have checked your credit history while researching your suitability for the new job.  The job background research tools for employers have improved a lot in recent times.  Potential employers don’t have to rely on phone calls and letters very much anymore.  Equifax acquired a service they call TheWorkNumber which they sell to Employers.  This database has an uncomfortable amount of information about people up to and including salaries and positions held.  In many cases they even tap into the data in the Human Resources department of a previous employer.

Submit it Yourself

If the presence of outdated information on your credit reports bothers you submit the new information to the bureaus yourself with proof in the form of a letter or affidavit from your new employer. While you’re at it you can update outdated addresses as well if they are on there. This is simply another example of the pro-active approach towards your credit reports.

But Remember…

The fact that you have changed jobs or, hopefully, have received a nice healthy raise does not affect your FICO score.  A high salaried surgeon can have a lower FICO score than a minimum wage worker.  Remember…it’s how you handle what you have, not what you earn, that makes up your credit score.  Of course the mortgage underwriter considers other factors besides the FICO score.

This should clear up the FAQ: Why is My New Job Not Showing on My Credit Report
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After practicing law for 37 years Edward F. St. Onge, Sr. now devotes all his time to helping consumers achieve a high credit score with amazing speed. Learn the counter-intuitive secrets to credit scoring through his down to earth instructions backed by extensive knowledge of the laws and trends. All of the latest tricks and techniques that they don't want you to know now at your disposal. At last a level playing field for the consumer!

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