Credit Checker

Your Fit

Income

$49K

Preparation

Some

Growth

-5.8%

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is a Credit Checker?

A Credit Checker is a professional responsible for assessing the creditworthiness of individuals or businesses applying for loans. They analyze credit data and financial information to determine the risk of lending money or extending credit.

Sample job titles:

Commercial Credit Reviewer, Credit Investigator, Credit Processor, Credit Representative

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Credit Checker.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does a Credit Checker earn

According to the U.S. Bureau of Labor Statistics, typical income (in USD) in 2024 was...

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$35K per year	$41K per year	$49K per year	$60K per year	$72K per year

Compared to other careers: Median is $370 below the national average.

See income by country/state/province

What does a Credit Checker do?

Work environment

Credit Checkers typically work in offices within financial institutions such as banks, credit unions, or credit reporting agencies. They spend considerable time using computers and phones, reviewing documents, and consulting with colleagues. The work environment is generally fast-paced, with a focus on accuracy and adherence to financial regulations and privacy laws.

Quick task list

Reviews credit applications and credit reports to assess creditworthiness.
Analyzes financial information, including income, expenses, and credit history.
Contacts applicants or creditors to verify information.
Calculates and evaluates risk scores using specific software.
Maintains records of credit transactions and decisions.

See full list of tasks with expert relevance ratings

Areas of specialization

Consumer Credit Analysis: Focusing on credit assessments for individual consumers.
Commercial Credit Analysis: Specializing in credit evaluations for businesses and corporations.
Credit Reporting Agency Analysis: Working for agencies that provide credit reports, focusing on accuracy and compliance.
Risk Assessment: Specializing in analyzing and identifying potential risks in lending.
Credit Counseling: Assisting individuals in understanding and improving their credit scores.

Description

The role of a Credit Checker is crucial in the financial sector, balancing the need to extend credit with the risk involved in lending. Credit Checkers must be detail-oriented to accurately analyze financial data and interpret credit reports. They play a key role in protecting financial institutions from potential losses due to credit defaults while also ensuring fair access to credit for qualified applicants.

Effective communication skills are essential, as Credit Checkers often need to clarify financial information with applicants or other financial institutions. They must be proficient in financial analysis and using credit scoring software. An understanding of financial regulations and privacy laws is also critical to ensure compliance in all credit evaluation processes.

Career growth for Credit Checkers can lead to more advanced positions in credit analysis, risk management, or loan underwriting. The role offers a unique view of the financial industry and can serve as a foundation for a career in various financial services.

Job Satisfaction

Sources of satisfaction

Contributing to responsible lending and financial stability.
Engaging in detailed financial analysis and problem-solving.
Opportunities for career advancement in the finance and banking sector.

You might make a good Credit Checker if you are...

Detail-oriented, with a keen eye for analyzing financial data.
Comfortable working with numbers and financial reports.
A strong communicator, able to convey findings clearly.
Interested in finance and the lending process.
Able to make decisions based on a mixture of analysis and established guidelines.

Pros:

A stable career in the financial sector.
Opportunities to develop specialized skills in credit analysis.
Potential for career growth into higher finance and risk management roles.

Cons:

The work can be repetitive and requires constant attention to detail.
High responsibility, as errors can lead to financial losses.
Need to stay updated with constantly changing financial regulations.

How to become a Credit Checker

Typical education

The role usually requires a high school diploma or equivalent, though some employers prefer an associate's degree in finance, accounting, or a related field. On-the-job training is often provided, but a fundamental understanding of finance and credit principles is beneficial.

High school preparation

Courses:

Mathematics, particularly algebra and statistics.
Business Studies to understand basic financial principles.
Computer Science for proficiency with data analysis and software.

Extra-Curricular Activities:

Joining a finance or business club.
Participating in mathematics or economics competitions.
Volunteering or internships in financial settings, if available.

Preparation after high school

Pursuing an associate's degree in finance, accounting, or business administration.
Gaining experience through internships or entry-level positions in banking or finance.
Attending workshops or courses in credit analysis and financial regulations.

More resources

National Association of Credit Management (NACM) - Offers resources and training for credit professionals.
MyFICO - Provides information on credit scores and reports.
Consumer Financial Protection Bureau (CFPB) - Offers insights into consumer finance laws and education.
O*NET Online - Comprehensive resource for detailed information on various occupations, including Credit Checkers.

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Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.