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.

Searching Searching ...

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
5 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Online Bachelor's programs include BBA, Criminal Justice, Psychology, IT, Healthcare Management & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
  • Provide a range of campus experiences and services online including advising, tutoring, student community, and career services
  • Give students and alumni access to career assistants who help with resumes, cover letters, job hunting, and more.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Ranked among the top 20 Regional Universities in the West in 2015 by U.S. News & World Report.
  • Listed as one of America’s Best Colleges by Forbes Magazine in 2014.
  • More than 97% of tenure-track faculty holds a terminal degree in their field.
  • Student to faculty ratio of 15:1, and 47.5% of classes have fewer than 20 students.
  • Accredited by The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Join our next Open House on 10/21 (10/28 @ select locations)!
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid
1 Program(s) Found
  • Campus-based and online business programs include Entertainment Business (BS), Internet Marketing (BS), and Business Intelligence (MS)
  • Students will explore business concepts like marketing, global media management, and business technology and design
  • Courses designed to prepare students for a career in business and Career Development advisors available to all alumni
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Early Childhood Education, ESL/TESOL, Special Education, Education Leadership and Administration, and Curriculum and Instruction Degree Program for YOU.
  • Affordable and Flexible Education and Teaching Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Education and Teaching Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
4 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Online Bachelor's programs include BBA, Criminal Justice, Psychology, IT, Healthcare Management & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
  • Provide a range of campus experiences and services online including advising, tutoring, student community, and career services
  • Give students and alumni access to career assistants who help with resumes, cover letters, job hunting, and more.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Ranked among the top 20 Regional Universities in the West in 2015 by U.S. News & World Report.
  • Listed as one of America’s Best Colleges by Forbes Magazine in 2014.
  • More than 97% of tenure-track faculty holds a terminal degree in their field.
  • Student to faculty ratio of 15:1, and 47.5% of classes have fewer than 20 students.
  • Accredited by The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!