How to become a Credit Officer

Credit officers examine, evaluate and process applications for credit or loans and, in commercial enterprises, control and process accounts.

Personal requirements of a Credit Officer

  • Good with numbers and able to make calculations quickly and accurately
  • good communication and negotiation skills
  • able to be firm yet tactful.

Duties & Tasks of a Credit Officer

Credit officers may perform the following tasks:

  • assess loan requests or commercial credit applications through interviews with applicants and by checking application forms, references, credit ratings, credit scores, pay slips and other information
  • approve or recommend approval of loans and commercial credit applications within policy guidelines
  • prepare documents setting out conditions and periods of loans, as well as rates of repayment, and, in a commercial area, the setting out of trading terms
  • prepare reports of loans and accounts that have outstanding (unpaid) amounts
  • keep records of arrears (behind in payments) and prepare routine letters or make telephone calls requesting payment
  • prepare statements of overdue accounts and forward these for legal action
  • prepare reports on credit ratings of customers
  • answer enquiries concerning loan balances or commercial accounts, penalties and the credit standing of customers.

Working conditions for a Credit Officer

Credit officers usually work indoors. They have a high level of contact with the public.

Avg. weekly wage:


Future growth:


Employment by state:

ACT 0.8%

NSW 35.7%

NT 0.4%

QLD 18.3%

SA 7.8%

TAS 1.5%

VIC 27.4%

WA 8.1%

Hours worked:



Lower unemployment

Gender split:

Male 44%

Female 56%

Education level:

Not completed Year 12: 15.9%

Highest qualification is secondary school: 25.7%

Highest qualification is a Certificate 3 or 4: 11.9%

Highest qualification is a Diploma or Advanced Diploma: 15.4%

Highest qualification is a Bachelor degree: 25.5%

Highest qualification is a Postgraduate Diploma or Graduate Certificate: 10.9%

Age brackets:

15-19 - 0.1%

20-24 - 6.1%

25-34 - 26.8%

35-44 - 22.6%

45-54 - 19.5%

55-59 - 8.2%

60-64 - 7.1%

65 and Over - 9.5%

*The data above is sourced from the Department of Employment’s Job Outlook website.

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