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Career profile Credit Investigator

Also known as Commercial Credit Reviewer, Commercial Loan Reviewer, Credit Investigator, Credit Processor, Credit Representative

Credit Investigator

Also known as Commercial Credit Reviewer, Commercial Loan Reviewer, Credit Investigator

Interests Profile
  • Conventional
  • Enterprising
  • Social
Pay Range
$28,020 - $62,940 (annual)
Required Skills
  • Active Listening
  • Speaking
  • Reading Comprehension
Knowledge Areas
  • Customer and Personal Service
  • Mathematics
  • Administrative
Core tasks
  • Prepare reports of findings and recommendations.
  • Contact former employers and other acquaintances to verify applicants' references, employment, health history, or social behavior.
  • Consult with customers to resolve complaints or verify financial or credit transactions.
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What does a Credit Investigator do?

Credit Investigators authorize credit charges against customers' accounts.

In addition, Credit Investigators

  • investigate history and credit standing of individuals or business establishments applying for credit,
  • may interview applicants to obtain personal and financial data, determine credit worthiness, process applications, and notify customers of acceptance or rejection of credit.

What kind of tasks does a Credit Investigator perform regularly?

Credit Investigators are often responsible for overseeing or executing some or all of the following tasks:

  • Keep records of customers' charges and payments.
  • Compile and analyze credit information gathered by investigation.
  • Obtain information about potential creditors from banks, credit bureaus, and other credit services, and provide reciprocal information if requested.
  • Interview credit applicants by telephone or in person to obtain personal and financial data needed to complete credit report.

The above responsibilities are specific to Credit Investigators. More generally, Credit Investigators are involved in several broader types of activities:

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with People Outside the Organization
Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Documenting/Recording Information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

What is a Credit Investigator salary?

The median salary for a Credit Investigator is $41,730, and the average salary is $43,580. Both the median and average roughly describe the middle of the Credit Investigator salary range, but the average is more easily affected by extremely high or low salaries.

Many Credit Investigators earn significantly more or less than the average, due to several factors. About 10% of Credit Investigators earn less than $28,020 per year, 25% earn less than $34,180, 75% earn less than $51,060, and 90% earn less than $62,940.

Between the years of 2020 and 2030, the number of Credit Investigators is expected to change by -4.7%, and there should be roughly 2,300 open positions for Credit Investigators every year.

Median annual salary
$41,730
Typical salary range
$28,020 - $62,940
Projected growth (2020 - 2030)
-4.7%

What personality traits are common among Credit Investigators?

Interests

Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.

Compared to most occupations, those who work as a Credit Investigator are usually higher in their Conventional and Enterprising interests.

Credit Investigators typically have very strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Also, Credit Investigators typically have strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Values

People differ in their values, or what is most important to them for building job satisfaction and fulfillment.

Compared to most people, those working as a Credit Investigator tend to value Support, Relationships, and Independence.

Most importantly, Credit Investigators moderately value Support. Occupations that satisfy this work value offer supportive management that stands behind employees.

Second, Credit Investigators moderately value Relationships. Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.

Lastly, Credit Investigators moderately value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.

Psychological Demands

Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.

In order to perform their job successfully, people who work as Credit Investigators must consistently demonstrate qualities such as integrity, cooperation, and dependability.

Below, you'll find a list of qualities typically required of Credit Investigators, ranked by importance:

Integrity
Job requires being honest and ethical.
Cooperation
Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Self-Control
Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.

What education and training do Credit Investigators need?

Working as a Credit Investigator usually requires a high school diploma.

Credit Investigators need anywhere from a few months to one year of working with experienced employees. A recognized apprenticeship program may be associated with this occupation.

Educational degrees among Credit Investigators

  • 0.9% did not complete high school or secondary school
  • 23.3% completed high school or secondary school
  • 30.1% completed some college coursework
  • 10.3% earned a Associate's degree
  • 27.8% earned a Bachelor's degree
  • 5.7% earned a Master's degree
  • 1.9% earned a doctorate or professional degree

Knowledge and expertise required by Credit Investigators

Credit Investigators may benefit from understanding of specialized subject areas, such as customer and personal service, mathematics, or administrative knowledge.

The list below shows several areas in which most Credit Investigators might want to build proficiency, ranked by importance.

Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

Important Abilities needed by Credit Investigators

Credit Investigators must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.

For example, Credit Investigators need abilities such as oral comprehension, oral expression, and written comprehension in order to perform their job at a high level. The list below shows several important abilities for Credit Investigators, ranked by their relative importance.

Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Speech Clarity
The ability to speak clearly so others can understand you.

Critical Skills needed by Credit Investigators

Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.

Credit Investigators frequently use skills like active listening, speaking, and reading comprehension to perform their job effectively. The list below shows several critical skills for Credit Investigators, ranked by their relative importance.

Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking
Talking to others to convey information effectively.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.

What is the source of this information?

The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.

If you have any questions or suggestions about this information, please send a message.