We're here to help

Please note: This article currently reflects the Selection Manager experience and will be updated on 6/9 to incorporate the new candidate pipeline being rolled out to customers. To review the candidate pipeline and how to process candidates through the stages, click here.

Together with Accurate Background, Hireology now offers Credit Checks as a part of specific background check packages.

In this article, we will cover: 

• Overview
• Why Credit Checks Matter
• Key Features
• Pre-requisites in order to use Hireology’s Credit Checks
• Ordering Credit Checks
• FAQ
• Related Topics

Overview

The Credit Report product searches nationwide through one of the credit agencies for: 

• Individual credit history, including places of employment and prior addresses
• Credit account types, terms, amounts past due, loan types, balances
• Public records
• High credit 
• Dates opened and closed
• Payment patterns
• Credit limits and modes of payment.

Why Credit Checks Matter

This search is essential for assessing a candidate's level of financial responsibility, a key indicator of trustworthiness in specific roles. A standard criminal check will not show if a candidate has massive outstanding debts, a history of collections, or significant financial judgements against them. This report provides that critical insight, helping you protect company assets and mitigate the risk of internal fraud or theft, especially for roles with access to cash, company accounts, or sensitive financial data.

Key Features

• Job-Relevant Data Only: Provides a concise summary of debt, payment history, and public records to assess financial responsibility.
• FCRA Compliant: Removes all sensitive and discriminatory information, including the FICO score, full account numbers, and the candidate's date of birth.
• Reduces Internal Risk: The best tool for identifying high-risk financial behavior for candidates in finance, accounting, or executive leadership roles.

Pre-requisites in order to use Hireology’s Credit Checks

BGC provider account must be set up

You will be informed by your Implementation Manager or your Customer Success Manager of what documents you need to sign in order to set up your account. Our Hireologists will ensure this step is initiated

On-site visit via Transunion must be completed

A transunion representative is required to come onsite to begin the verification process that is required for a business to run credit checks

Ordering Credit Checks

To begin, click 'Jobs' at the top of your Hireology account. Next, click on the job title or  'Candidates' tab to the right of the job the person has applied to. 

Click the 'Background Check Send' button beneath the candidate's name. 

Next, choose the type of search(es) you would like to conduct. Your most recent order will always appear at the top of the list, highlighted in green. Select 'Continue' to move forward with your order. 

Credit Checks are available in the following background check packages: 

• Automotive Finance Enhanced
• Healthcare Director Enhanced
• Hotel Management Enhanced 

Confirm the candidate's contact information and make changes, if needed. Click 'Confirm' to place your order.

Click 'Okay, Thanks' when you see the confirmation popup. 

Note: When purchasing a background check a la carte, there will be a base fee charged upfront, and you will receive a separate invoice at the end of the month with a pass-through of any statutory fees incurred on any background check ordered during the previous month. 

FAQs on Credit Check set-up process

• What email address will reach out to the customer in regards to setting up the in-person visit?: A representative from Transunion will reach out to the BGC account signor to schedule the site visit
• Typical time it takes to set up an in-person visit?: 3-5 days
• Who is required on the customer side to set up this in-person visit? : There is no required employee, any employee can assist with the site visit 
• How long does this process typically take to set up the Credit Check verification?: It can depend on the responsiveness between both parties, if everything goes smoothly with scheduling the visit and the verification process, ~3 weeks.

Related Topics

• Ordering Background Checks
• Background Check Subscription FAQ