General Discussion

ck4829

(37,516 posts)

45. They want the return of the Retail Credit Company

Mon May 7, 2012, 12:02 PM

May 2012

A 'credit report' used to be something very different. It had the same function, it could be used for loans and jobs. But it contained rumors along with verified information on everything from your sex life, your marriage, political activity, if you lived in a neighborhood that had scary black people in it, etc., and investigators were given bonuses for negative information. Files on millions of Americans were stored in the RCC's cabinets. And no, this wasn't a big bad government agency, but something that was a private company. And whatever happened to the RCC? Well, it's called Equifax today.

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Could Your Student Loans Make You Unemployable? [View all] rsmith6621 May 2012 OP

Does Bain & Co have anything to do with Bain Capital? Just curious..... kestrel91316 May 2012 #1

I believe they do tabbycat31 May 2012 #11

Completely different companies taught_me_patience May 2012 #47

this happened to a law grad last year - graduates with big all law school loans too Liberal_in_LA May 2012 #2

Its odd that they offered her full-time employment without the credit check. aikoaiko May 2012 #3

Companies will have in their offer letters TBMASE May 2012 #6

I've never understood why an employer TBMASE May 2012 #4

The employer I work for does it for anyone who handles money. aikoaiko May 2012 #5

Equating poor credit or high debt with dishonesty or lack of integrity TBMASE May 2012 #7

100% correct! Orrex May 2012 #13

Credit ratings are now also used as an underwriting tool for car insurance. PSPS May 2012 #14

Well, obviously that makes a great deal of sense! Orrex May 2012 #15

No, but you might be tempted to commit indurance fraud by faking SharonAnn May 2012 #21

No, I don't buy it Orrex May 2012 #26

And someone rich may have got rich by staging accidents muriel_volestrangler May 2012 #29

then why does it make liability insurance higher as well? RedRocco May 2012 #30

Completely disagree. closeupready May 2012 #33

+1. pnwmom May 2012 #16

For some kinds of jobs, it's appropriate to use various tools such as credit check SharonAnn May 2012 #19

I respectfully disagree Orrex May 2012 #25

So you don't think that someone at risk of foreclosure or bankruptcy dmallind May 2012 #27

Ken Lay didn't seem to be in any money problems ck4829 May 2012 #34

So you agree that creditworthiness is no predictor of honesty or integrity? Orrex May 2012 #37

Research shows there is NO LINK between a bad credit score and employee theft PA Democrat May 2012 #38

It's a modern day pseudoscience ck4829 May 2012 #39

When you put it that way, I feel like a fool for submitting to those skull calipers. Orrex May 2012 #52

LOL! It's not 20/20 hindsight, you had a brain module for that! ck4829 May 2012 #53

I have not read anyone equating poor credit or high debt with dishonesty or lack of integrity aikoaiko May 2012 #22

This insanity has got to stop! Odin2005 May 2012 #8

Credit checks for a job (except in very rare circumstances) is such a scam. Liberal Veteran May 2012 #9

I was offered ajob in 1965 but the confirmation would be after the credit check, felony check, etc. SharonAnn May 2012 #20

A Person's credit rating HAS nothing to do with a person's ability to do a job ALL this boils down Justice wanted May 2012 #10

It is the ugliest and blatant discrimination of recently graduated college students out there Harmony Blue May 2012 #24

Not just graduates BUT anyone in general. My friend recently got a divorce and that cause a lot Justice wanted May 2012 #50

WTF Skittles May 2012 #12

debt to credit ration MJJP21 May 2012 #17

companies usually do this to get 2 weeks of free work out of a worker. provis99 May 2012 #18

Companies that do that are stupid laundry_queen May 2012 #31

I hope you went back and picked up your checks. I once had a temp agency coalition_unwilling May 2012 #48

Credit ratings are out of control Harmony Blue May 2012 #23

Agree with everything you say. laundry_queen May 2012 #32

Agreed. I posted a link above that show no correlation between bad credit scores PA Democrat May 2012 #40

Student debts need to be removed from credit scores or the credit job filter gets eliminated ck4829 May 2012 #28

Unless you're handling company money, why on earth does an employer NEED your credit report? Bake May 2012 #35

It can be fixed ck4829 May 2012 #36

A society that allows its citizens to be treated like this..... marmar May 2012 #41

We've been to the Moon and we've killed smallpox. We should be over this pseduoscience BS ck4829 May 2012 #42

Credit checks are a kickback Icicle May 2012 #43

They want the return of the Retail Credit Company ck4829 May 2012 #45

I don't believe this story taught_me_patience May 2012 #44

Nobody wants to believe in vicious cycles that can trap you in the land of the American Dream ck4829 May 2012 #46

Agreed. Tom Wolfe is a very politically conservative novelist and writer. But his coalition_unwilling May 2012 #49

DU Rec. nt woo me with science May 2012 #51