Personal credit checks come in most handy when an employer is seeking to fill a financial position, or any position in which the applicant would be in charge of handling financial assets, be given access to sensitive information or potentially even be put in charge of controlling who has access to that information.
Obviously, an employer wants to make sure anyone who is in such a position can be trusted to make responsible decisions. A person who has poor credit, or perhaps a bankruptcy on their record, would likely not be a great financial fit for an organization that needs someone who knows how to responsibly manage their money. The general philosophy is that if a person can’t take care of their own finances, why should they be trusted to make responsible, sound financial decisions for a company on a much larger scale with many more assets at stake?
As such, these credit checks are useful when either hiring for a new position, or promoting someone to a new position in which they’d take more of a role in managing a company’s finances.