Heather Huhman at Entry Level Careers Examiner lets you know what employers are looking for when they run your credit:

1. Low credit score: Most employers aren’t credit experts. They many not fully understand credit scores and the various metrics. In those cases, the score may be the most important aspect to the employer. New entrants to the job market may find that they have a very short credit history. As such, any negative marks on their credit report may be magnified on their score.
2. Outstanding debt: Young consumers and new entrants should take care to ensure that their credit reports are accurate and any outstanding debt is made current prior to their entry into the job market as a best practice.
3. Recent late fees and 100 percent credit utilization: Employers will look at recent late fees and credit utilization to determine how responsible the potential new employee is. They may gauge a person with 100% credit utilization as someone who can’t stick to a budget and is irresponsible with money. This has the employer wondering if the potential employee is responsible and if they can handle the job.

My only argument with checking an applicant’s credit is that it doesn’t really tell you how well they can accomplish the task that they’re interviewing for.  Irresponsibility can show itself if many other ways.