What Credit Score is Needed for Security Clearance?

April 9th, 2012 | Author:

There are many branches of the military and government that require security clearance in order to move up in the ranks of one’s career field. Security clearances are in depth background checks, including financial background checks, that help to determine whether or not you are trustworthy enough to be given such access to protected information or activities. On top of a rigorous application process and thorough background check, they also look into one’s credit history, and at one’s credit score when determining whether or not to grant clearance.

There is no minimum credit score needed to obtain security clearance. However, a negative credit score could make it harder for you to gain said clearance. The background check into your financial history will go a lot deeper than the military or government pulling your credit report. You will also be interviewed about the contents of the credit report, which gives you a chance to explain the circumstances surrounding different elements of the report.

If you have had to file for bankruptcy, or are in a lot of debt, this could be damaging to your ability to obtain security clearance, though it isn’t necessarily going to keep you from being approved. You will be asked to explain the circumstances surrounding the debt or bankruptcy, and then determine whether or not to approve you from there.

Sometimes, one’s credit history and score are what make the government or military not deem them worthy of clearance. One can work to improve their credit score, eliminate their debts and work off negative judgments and then try to obtain the clearance again. More often than not though, unless the debts were gained through repeated financial irresponsibility, one’s negative credit history can be, to an extent, overlooked.

Others in your regimen or office may be asked to vouch for you if there are problems with your application such as financial issues. Foreclosures, bankruptcy and debt are not necessarily going to keep you from obtaining clearance, but it certainly doesn’t help. If you are looking to apply for security clearance, it is advised to take a look at your credit report to make sure that everything is correct. It will also give you an idea of what those who are looking through your application will see, and give you a chance to explain the circumstances surrounding a particular debt or action. The financial part of the application process is just one part of the process, and even if you have a bad credit history, you are not automatically denied clearance.

Posted in Credit Score | Tags:

Newest Answers

5 Tips to Repair Your Credit

February 6th, 2017 | Author:
h

[I]f you’ve had credit problems in the past, you may be ready to work to repair your past mistakes. You want to rebuild your credit, but you aren’t sure what to do first. Here are five tips to help you start making a positive impact. 1. Make Sure Everything is Accurate Before you do anything […]

Continue Reading »

Should You Use a Credit Monitoring Service?

February 3rd, 2017 | Author:
h

[I]f you’ve been the victim of compromised data from a large company, you may have received a free year of credit monitoring. Otherwise, you may not give this service much of a thought. It is often seen as a benefit for people who have bad credit or those with a lot of money to lose. […]

Continue Reading »

Reasons Not to Get a Credit Card with Bad Credit

February 1st, 2017 | Author:
h

[Y]ou’ve probably heard that there are credit cards for people with any credit, bad credit, no credit at all. For most, they can qualify for some kind of credit card even if their credit score is below 600. However, just because you can qualify for a credit card, should you get one? You Can’t Handle […]

Continue Reading »

Can You Get a Charge-off Removed from Your Credit Report?

January 30th, 2017 | Author:
h

[I]f you failed to pay a credit account, it probably was charged off and the account sold to a collections agency. You may think this means you are stuck with the negative information for several years. However, there are ways to get a charge-off removed from your credit report. Pay for Delete You can ask […]

Continue Reading »

Good Debt vs. Bad Debt

January 27th, 2017 | Author:
h

[Y]ou’ve probably heard the term “good debt” or “bad debt” and you may even have an idea what it means. However, you may not always recognize the difference between the two. It’s important to understand this distinction, so you can build good credit and become financially stable. What is Good Debt? Most people assume any […]

Continue Reading »

What You Should Know about Balance Transfer Cards

January 25th, 2017 | Author:
h

[I]f you have multiple credit cards that are maxed out or if you have a high interest credit card with a balance, a balance transfer card may seem like the perfect answer to your situation. However, you should understand some basic facts about this card. It Can Save Money Yes, getting a balance transfer credit […]

Continue Reading »

Top Credit Cards for Bad Credit

January 23rd, 2017 | Author:
h

[I]f you have bad credit or less than excellent credit, you may have trouble finding a credit card offer where you can get approved. However, there are credit cards designed for people who have a negative history to help them rebuild their credit. Here are a few to consider. Credit One Bank Credit One Bank […]

Continue Reading »