What does a Credit Manager do?

Credit managers oversee a company’s credit-granting process. They optimize company sales and reduce bad loans by maintaining a strict credit policy. They do this by assessing potential customers’ creditworthiness and conducting periodic reviews of their existing customers. Credit managers evaluate potential customers’ creditworthiness through credit scoring models that help with risk assessment. They approve and reject loans through the available data and calculate and set loan interest rates.

Credit managers review and update the company's credit policy and monitor loan payments and bad debts. They calculate and set loan interest rates, negotiate the terms of a loan with new clients, and ensure all loans and lending procedures comply with policy and regulation. They also maintain records of all company loans. Credit managers need a bachelor's degree in accounting, business administration, finance, or related fields and proven work experience as a credit manager.

EducationBachelor's Degree
Work/Life Balance
3.4 ★
Salary Range--
Career Opportunity
3.4 ★
Avg. Experience2-4 years

Credit Manager Salaries

Average Base Pay

£45,769 /yr
Same as national average
Not including cash compensation
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Median: £46K
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Glassdoor Estimated Salary

Credit Manager Career Path

Learn how to become a Credit Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Credit Manager
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Credit Manager Insights

Read what Credit Manager professionals have to say about their job experiences and view top companies for this career.
The Finchley Group
Credit Manager
17 Mar 2021

“I have been here for many years and I cannot say enough great things about working for The Finchley Group.”

Roofing and Reconstruction Contractors of AmericaRoofing and Reconstruction Contractors of America
Credit and Collections Manager
25 Feb 2021

“I have not found any cons to this point great people to work for and with.”

Bank of AmericaBank of America
Credit Support Associate
5 Oct 2019

“I don't think the compensation was worth the amount of work I was assigned.”

Charles River LaboratoriesCharles River Laboratories
Credit Controller
16 Apr 2021

“Really good place to work and people are nice.”

Yu EnergyYu Energy
Credit Controller
21 Feb 2020

“I really enjoyed my time working at Yu Energy and worked with some absolutely amazing people.”

Manager GRM-Credit
26 May 2021

“Good everything perfect wonderful excellent”

Credit Control
24 Aug 2020

“Low salaries otherwise everything is good”

IndusInd BankIndusInd Bank
Credit Manager
19 May 2021

“Good work life balance will be experienced here”

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Credit Manager Interviews

Related Careers

Financial Analyst
13% skills overlap
Finance Manager
Credit Analyst
25% skills overlap
25% skills overlap

Credit Manager jobs

Frequently asked questions about the role and responsibilities of a credit manager

When working as a credit manager, the most common skills you will need to perform your job and for career success are CDL, Releases, Traditional, Excellent Customer Service and Written Communication.

The most similar professions to credit manager are:
  • Financial Analyst
  • Finance Manager
  • Credit Analyst
  • Controller

The most common qualifications to become a credit manager is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.