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

3 Things You Need to Know about Credit

December 2nd, 2016 | Author:
h

[I]f you’re trying to build credit or repair bad credit, you’ve probably seen a lot of information about credit. Some of it can be overwhelming. You don’t know what is essential or what you should do first. Here are the three most important things to know about credit. 1. You Must Have Credit to Build […]

Continue Reading »

Do You Need Good Credit for Traveling?

November 30th, 2016 | Author:
h

[I]f you like to travel, you may wonder if good credit is necessary to enjoy life on the road. While it’s not a requirement for vacationing or taking a road trip, it can make life easier. Here are a few instances of how good credit can make traveling easier. Credit Cards for Reservations You need […]

Continue Reading »

Is a Prepaid Card a Good Idea?

November 28th, 2016 | Author:
h

[A] prepaid card allows you to purchase items just like you would with a credit card. The only difference is you must have money on the card whereas a credit card allows you to pay for purchases on credit. You also have time to pay for the items over several months as long as you […]

Continue Reading »

How to Save Money on Your Cell Phone Bill

November 25th, 2016 | Author:
h

[I]t’s easy to get into trouble with your cell phone bill and not be able to afford the payment. When this happens, your phone gets shut off and the account can go into collections which will show up on your credit report. Here are some ways to save money and prevent this progression. Choose Your […]

Continue Reading »

What Classic TV Shows Tell You about Money

November 23rd, 2016 | Author:
h

[I]f you grew up watching popular TV shows or reruns of old sitcoms, you may never have realized how much they impacted your life. Many of these shows and their characters help to form your opinions about life in general. Here is a look at what some of them taught you about money. Seinfeld – […]

Continue Reading »

Why You Want to Be Like Harry Potter

November 21st, 2016 | Author:
h

[F]or fans of one of the most popular book and movie series of all time, they can follow The Boy Who Lived and apply his ideas about money to their own lives. While money wasn’t a major theme in the story, it did play a key role in Harry’s life and with his friends. Money […]

Continue Reading »

How to Use Credit Cards Responsibly

November 18th, 2016 | Author:
h

[I]f you just got your first credit card approval, you may be excited at what it can do for you. Whether you are working to build or rebuild your credit or just like having credit to make purchases, you need to know how to be responsible with your new credit. It’s much easier to protect […]

Continue Reading »