If you disclose it openly and it is in the past, it should not be a problem.
The problem comes with bonding. If you have current credit problems and large amount of outstanding debt even with a perfect credit score, then it becomes a problem to get bonding for you.
Bad credit is not an issue. Even bankruptcy won't make a difference (you would have to disclose it). The problem comes with the fact that you need to be sponsored to get these licenses and more and more companies are using credit reports as an element of a background check. Having a couple CC's with high credit limits is not an issue, nor is a couple late payments. If you have serious charge offs and collection attempts you will find it hard to pass credit checks.
If you can't get hired, you can't get sponsored. Catch 22.
From what I know at least, credit means a lot more for commercial bankers than investment bankers/ traders. Commercial banks may do extensive and frequent credit checks, whereas most IB HR folks might tell you that they've never fired someone or refused to hire someone based on their credit score. Of course, the practices may vary bank to bank, but I'd say BB HR won't refuse to hire you if your credit is bad, unless you've filed bankruptcy numerous times or something extreme. Bad credit isn't going to get you kicked out the door, IMO. If anyone's experienced something different firsthand, definitely correct me though.
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If you disclose it openly and it is in the past, it should not be a problem. The problem comes with bonding. If you have current credit problems and large amount of outstanding debt even with a perfect credit score, then it becomes a problem to get bonding for you.
Bad credit is not an issue. Even bankruptcy won't make a difference (you would have to disclose it). The problem comes with the fact that you need to be sponsored to get these licenses and more and more companies are using credit reports as an element of a background check. Having a couple CC's with high credit limits is not an issue, nor is a couple late payments. If you have serious charge offs and collection attempts you will find it hard to pass credit checks.
If you can't get hired, you can't get sponsored. Catch 22.
From what I know at least, credit means a lot more for commercial bankers than investment bankers/ traders. Commercial banks may do extensive and frequent credit checks, whereas most IB HR folks might tell you that they've never fired someone or refused to hire someone based on their credit score. Of course, the practices may vary bank to bank, but I'd say BB HR won't refuse to hire you if your credit is bad, unless you've filed bankruptcy numerous times or something extreme. Bad credit isn't going to get you kicked out the door, IMO. If anyone's experienced something different firsthand, definitely correct me though.
Optio veritatis iusto eos molestiae nihil non. Impedit tempora consequatur nemo velit magni. Fugiat possimus aut sed magni maiores fuga. Consequuntur laboriosam perspiciatis quaerat unde. Corporis voluptatibus at hic necessitatibus cum.
Voluptatum vero aliquid dolorum voluptate ipsa. Dolorum nihil sint voluptatibus omnis ea pariatur ut. Molestiae itaque voluptatem autem nam sit. Veritatis est a dolorem iure.
Eaque aut voluptatem ut nemo rem saepe dolorum error. Quas non unde illo. Nostrum inventore deleniti aut aliquam et iure. Qui minima consequatur vel magnam numquam.
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