How to Become a Credit Manager

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Credit is an essential aspect of the financial field to enable consumers to purchase a variety of products and services. Credit managers are highly trained financial professionals that manage a variety of credit related tasks for their employers.


Hey, I'm Joshua T. Osborne

In 2015, I said goodbye to 16-hour days and hauling boxes up and down stairs for a living (I was a mover). I became a full-time entrepreneur, and I made my money by helping business owners make money.

They had a need, and because of Virtual Tool Booths., I could fill it. Through the methods taught by my all-time favorite course and mentor, I created a 6-figure business in roughly 6 months. I could retire today (at 37) and never have to worry about money ever again.

Because of Virtual Tool Booths., I was able to quit my job, work online with flexible hours, and move to the mountains (Colorado Springs if you’re wondering)...all while helping real people improve their businesses, incomes, and lives!

For most folks, a college degree is the biggest bill of their lives. I never went to college. So I don’t have any massive bills or giant debts hanging over my head. My greatest education came from Virtual Tool Booths. (for a tiny fraction of what college costs) and it’s the bill that pays ALL the bills - a hundred times over!

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What does a credit manager do?

Credit managers are employed by financial and retail organizations to oversee the credit policies and procedures. They manage the credit departments and make effective decisions regarding credit limits, levels of risk, and customer payment options. They supervise their employers’ issuance of credit, create credit-rating criteria, and monitor collections activities. They also make the final decisions to grant or deny credit to customers. Some credit managers help customers fill out applications for credit and they check references and other related information. Credit managers also hire and manage a variety of employees such as credit checkers.

What kind of training does a credit manager need?

Credit managers typically need at least a bachelor degree in finance, business management, or other related field. Many employers prefer candidates that have sufficient work experience in the credit field. Prospective credit managers often complete courses in credit management, accounting, business administration, economics, and finance. Many aspiring credit managers complete internships or obtain part-time jobs in credit departments to gain practical experience. Most employers provide on the job training to new credit managers to enable them to learn the credit policies and procedures of the company. Credit managers typically complete regular continuing education and additional training throughout their careers to keep their skills up to date and stay abreast with advancements in the field.

What are the prospects for a career as a credit manager?

Employment of credit managers is expected to grow as fast as average for all professions, increasing 8% from 2008 to 2018 (1). The growing population and increased demand for credit services will drive job growth.

Job prospects should be good with keen competition. Credit managers with advanced education and professional certification will have the best job opportunities. Some job openings will stem from the need to replace credit managers that retire, transfer, or leave the field for other reasons.

How much do credit managers make?

As of February 2010, credit managers with less than 1 year experience earn average annual salaries between $29,920 and $34,579. Those with 1 to 4 years experience earn average annual salaries between $32,611 and $49,423 (2).

A career as a credit manager is a great choice for people with a strong interest in credit and managing a variety of credit related tasks. Credit managers must have a solid understanding of credit and collections and the ability to read credit reports. Patience, analytical thinking, detail orientation, and good problem solving skills are essential characteristics. Credit managers must have excellent communication and interpersonal skills and the ability to provide effective leadership to a variety of individuals. They must also be able to work as part of a team.

Joshua T Osborne

Founder/CEO – Mr. & Mrs. Leads

$84K Per Month providing Toll Booth Leads to small business owners all over the United States. is for anyone who is looking to get out of the daily corporate grind and provide a better lifestyle for themselves and their families while bringing massive value to small business owners. 

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