Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

How to Become a Credit Analyst

Career News May 29, 2014

If you enjoy working with people, have a natural talent with math, and love strategizing with others on finance, then this career field may be your calling. A credit analyst is in charge of assessing loan applicant’s data, and determining their final creditworthiness rating. Many applicants will be at high risk of default and will not qualify. Others, however, fall somewhere in the middle, and it is your job to examine the details to determine best business strategy.

This particular career field is in credit, so you are dealing with commercial interests, investment, or even bank/credit card lenders. The role remains universal, since your priority is to analyze financial data about clients.

Items to consider include payment habits, history, earnings, savings, and purchases. Based on this information, you recommend a course of action. This might be beyond the lending evaluation and involve decisions on whether or not to close the card or even reduce a credit line.

College Education

Pursuing college courses in related fields like finance or accounting is a fine way to start down a successful career path. In fact, given the responsibility of this site, most employers will not hire you without seeing a degree on your resume.

This formal education will teach invaluable subjects like statistics, ratio analysis, calculus and business economics. Now this doesn’t mean that you cannot apply for this job without a degree; it’s just going to be a more difficult challenge to overcome. Some companies will hire you with a high school diploma, but that’s with the assurance of practical work experience. This work experience will likely include some major responsibility within the finance industry.

One trend among companies worth noting is the hiring of Chartered Financial Analysts (CFAs), who have met high standards within the nationwide company. Required skills include diligence and careful attention to detail, (since this oftentimes will decide on whether the loan is a high credit risk or not) as well as the ability to analyze mathematical figures rapidly. Good speaking skills and knowledge of the business would balance out a college degree and work experience. Not every business will require software familiarity, but flexibility is always an asset, since that means you can quickly learn systems and fit the business dynamic.

Strategies for Success

When you do reach college, communicate with your teachers and use their knowledge to build your own identity for this field. Always think critically but logically, taking careful heed of the company’s directives. If you have no work experience, don’t underestimate internships, which may accompany some school programs. You can also apply for jobs online.

All in all, this is a promising career position and can easily turn into a managerial role with more experience or perhaps more education, such as an MBA. The sky is the limit, and you have full opportunity to reach out and take the career you want! Ask University of Maryland or the colleges listed below for more information about enrollment.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!