Occupation Profile for Credit Authorizers
Authorize credit charges against customers' accounts.
Signficant Points
- Most jobs require only a high school diploma.
- Employment is expected to decline.
Sample Job Titles
Training
- These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents.
- Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree.
- Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
- Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.
Employers generally prefer workers with a least a high school diploma or its equivalent and usually provide on-the-job training.
Education and training. A high school diploma or its equivalent is usually the minimum requirement for these workers. Most new employees are trained on the job, working under close supervision of more experienced employees. Some firms offer formal training that may include courses in telephone etiquette, computer use, and customer service skills. Some credit authorizers, checkers, and clerks also take courses in credit offered by banking and credit associations, public and private vocational schools, and colleges and universities.
Experience and other qualifications. Other requirements of the job include good telephone and organizational skills and the ability to pay close attention to details and meet tight deadlines. Computer skills also are important in order to enter and retrieve data quickly.
Advancement. These workers typically can advance to supervisory positions. They may become loan or credit department supervisor or team leader of a small group of clerks.
Nature of Work
Credit authorizers, checkers, and clerks review credit history and obtain the information needed to determine the creditworthiness of individuals or businesses applying for credit. They spend much of their day on the telephone or on the Internet obtaining information from credit bureaus, employers, banks, credit institutions, and other sources to determine applicants’ credit history and ability to repay what they borrow or charge.
Credit authorizers, checkers, and clerks process and authorize applications for credit, including applications for credit cards. Although the distinctions among the three job titles are disappearing, some general differences remain. Credit clerks typically handle the processing of credit applications by verifying the information on the application, calling applicants if additional data are needed, contacting credit bureaus for a credit rating, and obtaining any other information necessary to determine applicants’ creditworthiness. If clerks work in a department store or other establishment that offers instant credit, they enter the applicant’s information into a computer at the point of sale. A credit rating is then transmitted from a central office within seconds to indicate whether the application should be rejected or approved.
Credit checkers investigate the credit history and current credit standing of a person or business prior to the issuance of a loan or line of credit. Credit checkers also may contact credit departments of businesses and service companies to obtain information about an applicant’s credit standing. Credit reporting agencies and bureaus hire checkers to secure, update, and verify information for credit reports. These workers often are called credit investigators or credit reporters.
Credit authorizers approve charges against customers’ existing accounts. Most charges are approved automatically by computer. However, when accounts are past due, overextended, or invalid, or when they show a change of address, salespersons refer the associated transactions to credit authorizers located in a central office. These authorizers evaluate customers’ computerized credit records and payment histories and quickly decide whether to approve new charges.
Work environment. Credit authorizers, checkers, and clerks usually work a standard 40-hour week. However, they may work overtime during particularly busy periods, such as holiday shopping seasons and store sales. Most credit authorizers, checkers, and clerks work in areas that are clean, well lit, and relatively quiet. These workers sit for long periods of time in front of computer screens, which may cause eyestrain and headaches. Part-time work is available, and temporary workers are often hired during peak workloads.
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