I meet people everyday who are just plain sick and tired of working for their current [tag]employer[/tag]. The funny thing is that these people make remarks about how they’re looking for another [tag]job[/tag] which is a clone of the one they currently have! If you leave your job to go to another that does the same thing, you’ll find yourself in the same predicament. Until you can find [tag]employment[/tag] that will substantially increase your [tag]income[/tag] and [tag]benefits[/tag], I wouldn’t put in a two week notice if you care about your [tag]credit[/tag].
Did you know that one of the keys factors in your overall credit score is length of employment history and also employment status? This is very real ladies and gentlemen! Changing jobs more than you do your clothes will not earn you the points you need to have a better credit score!
Being on the job less than 6 months……2 pts
6 months to 1.5 years……8 pts
1.5 years to 2.5 years……19 pts
2.5 years to 5.5 years……25 pts
5.5 years to 12.5 years….39 pts
As you can see, the longer you stay employed by one [tag]company[/tag], you shouldn’t have any problems racking up a few extra points! While we encourage everyone to be [tag]entrepreneurs[/tag] on this blog, it’s essential to mention these things because many of us still have day jobs while trying to build a dream on the side.
Wanna know what can deliver a devastating blow to your credit report? Click here to find out!
May 6th, 2008 at 7:35 am
what is your source for this information (length of employment affects credit score)? Thanks.
May 7th, 2008 at 8:30 pm
“what is your source for this information (length of employment affects credit score)? Thanks.”
I constantly research and study of Fair Isaac Scoring Models! This should be very obvious in the world of “loans”! Banks will shy away from loaning several thousands of dollars to people who can’t hold a steady source of income! You will appear to be the one who’ll default sooner than later. Your employment history is a direct correlation to the risk a creditor takes when granting you credit!