How To Become A Credit Manager: What It Is and Career Path

What is a credit manager and how to become one

Updated January 8, 2025

4 min read

A credit manager is an expert who oversees the credit permitting process for an organization. You are to analyze if prospective clients are deserving of credits. You must sustain board credit regulations to maximize the organization's sales and lessen bad deficit losses, and you must also handle the appropriate relationship with bureaus like the collection bureau. The credit insurance suppliers and the merchandising sector can be included in the collection bureau.

As a credit manager, you can operate in various industries like banks, accounting establishments, or automated workshops. You are expected to compile information from different origins and translate the data to attain a reasonable outcome for the company's profits.

You must obtain a bachelor's degree in financial management or connected areas to qualify for this job. A master's degree, high school degree, or GED can be used as an alternative. You must possess good communication, analytical, and organization skills as well as great attention to detail. A credit manager earns an average of $92,041 annually or $34.77 per hour.

ScoreCredit ManagerUS Average

Salary

5.4

Avg. Salary $68,583

Avg. Salary $59,228

Stability Level

9.5

Growth Rate 17%

Growth Rate 0.3%

Diversity

3.5

Race

American Indian and Alaska Native 0.34%

Asian 7.84%

Black or African American 7.90%

Hispanic or Latino 15.27%

Unknown 4.12%

White 64.53%

Gender

female 46.07%

male 53.93%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress Level

9.5

Stress level is very high

7.1 - high

Complexity Level

9.2

Complexity Level is advanced

7 - challenging

Work Life Balance

4.9

Work Life balance is fair

6.4 - fair

Key steps to become a credit manager

Explore credit manager education requirements

Most common credit manager degrees

Bachelor's

66.8 %

Associate

14.3 %

Master's

8.4 %

Start to develop specific credit manager skills

Skills	Percentages
Customer Service	15.53%
Financial Statements	8.91%
Credit Card	4.91%
Credit Risk	4.85%
Credit Policy	4.53%

Complete relevant credit manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New credit managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a credit manager based on U.S. Bureau of Labor Statistics data and data from real credit manager resumes.

Research credit manager duties and responsibilities

Manage treasury department including all cash management, bank relationships, and debt negotiations.
Manage an initiative to move customers from checks to ACH with CTX or EDI remittances.
Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Launch the new SBA lending and residential mortgage lending programs.

Prepare your credit manager resume

When your background is strong enough, you can start writing your credit manager resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a credit manager resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose From 10+ Customizable Credit Manager Resume templates

Build a professional Credit Manager resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Credit Manager resume.

Apply for credit manager jobs

Now it's time to start searching for a credit manager job. Consider the tips below for a successful job search:

Browse job boards for relevant postings
Consult your professional network
Reach out to companies you're interested in working for directly
Watch out for job scams

How do credit managers rate their job?

-/5

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Credit Manager reviews

A zippia user wrote a review on May 2019

Pros

The job is self motivating and result oriented .

Cons

Its very demanding where by you have to closely monitor the portfolio every time and now to be able to report the right information .