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Credit and collections analyst skills for your resume and career

Updated January 8, 2025
4 min read
Quoted expert
Francisco Depusoir
Credit and collections analyst example skills
Below we've compiled a list of the most critical credit and collections analyst skills. We ranked the top skills for credit and collections analysts based on the percentage of resumes they appeared on. For example, 17.6% of credit and collections analyst resumes contained customer service as a skill. Continue reading to find out what skills a credit and collections analyst needs to be successful in the workplace.

15 credit and collections analyst skills for your resume and career

1. Customer Service

Customer service is the process of offering assistance to all the current and potential customers -- answering questions, fixing problems, and providing excellent service. The main goal of customer service is to build a strong relationship with the customers so that they keep coming back for more business.

Here's how credit and collections analysts use customer service:
  • Utilized effective listening skills and assisted delinquent customers with solutions that resolved past due accounts, while providing exceptional customer service.
  • Verified validity of account discrepancies by obtaining and investigating information from sales, billing, customer service departments and from customers.

2. Credit Limits

A credit limit is the maximum amount of credit that a financial institution or other lenders will grant to a debtor for a given line of credit at any given time without penalty. This is generally based on several factors including; individual circumstances, personal income, loan repayment history, creditworthiness, general financial condition, and other factors.

Here's how credit and collections analysts use credit limits:
  • Analyze credit information in order to determine risk involved in establishing credit limits for international and domestic's commercial accounts.
  • Regulate the invoicing/delivering process by accessing A/R balance and customer liability according to established credit guidelines and credit limits.

3. Past Due Accounts

A credit card account in a bank or any other financial association that is past due in payment is called a past due account. Past due account holders are required to recompense their scheduled payments to the bank or their creditor. The more credit account holders are due, the more they are compelled by their lender to make the payment.

Here's how credit and collections analysts use past due accounts:
  • Monitored and collected past-due accounts and recommends to management credit extensions and/or legal actions as necessary.
  • Contacted customers regarding past due accounts and negotiated payment plans

4. Delinquent Accounts

A delinquent account is an account wherein there are many past-due funds.

Here's how credit and collections analysts use delinquent accounts:
  • Reviewed aged trial balance to determine delinquent accounts and prepared collection letters to bring accounts current within established guidelines.
  • Escalate delinquent accounts through appropriate collection channels and communicate with third party vendors responsible for wage garnishments and repossessions.

5. Financial Statements

A financial statement is a report of an individual or a company that includes all the information about the declared assets, the use of money, income, and also the contribution of shareholders over a certain period.

Here's how credit and collections analysts use financial statements:
  • Minimized bad debt through implementation of department credit policy; evaluated financial statements and customers payment history.
  • Analyze financial statements to compile reports and offer opinions regarding financial strength and credit worthiness of customers.

6. Credit Card Payments

Here's how credit and collections analysts use credit card payments:
  • Processed credit card payments and authorizations.
  • Process credit card payments, submit requests for check refunds, submit transfers of credit balances or payments onto corresponding accounts.

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7. Reconciliations

Here's how credit and collections analysts use reconciliations:
  • Reconciled in a monthly basis long-term government contracts and assisted staff accountants with monthly expense reconciliations.
  • Facilitated worldwide collections on overdue receivables to ensure customer satisfaction by verifying completed account reconciliations.

8. Credit Memos

A credit memo formally named credit memorandum, is a legal document issued by the seller to the buyer. It bears the reduced amount that the buyer owes to the seller as per an earlier invoice. Credit notes act as a primary document for the sales return journal.

Here's how credit and collections analysts use credit memos:
  • Located and processed returned good items via credit memos, and settled customer order/invoice/pricing disputes.
  • Issued miscellaneous billings/credit memos and maintained accounts receivable trial balance.

9. Credit Worthiness

Here's how credit and collections analysts use credit worthiness:
  • Assessed credit worthiness of existing and new customers, administered credit lines using company's established criteria for customer financial analysis.
  • Analyzed and determined credit worthiness following current credit and collections laws as well as established company policies and procedures.

10. Collection Calls

Collection calls involve reaching out to clients with unpaid balances to collect payments and verify transactions.

Here's how credit and collections analysts use collection calls:
  • Performed collection calls for residential and small business customers to maximize company earnings.
  • Placed outbound collection calls to corporate accounts while maintaining ongoing working relationships.

11. Credit Risk

Credit risk entails the risk experienced by a lender from the possibility of losing money due to a borrower failing to repay or meet their obligations set out in a loan contract. Credit risk manifests in many forms including loans (the most popular), letters of credit, foreign exchange and lines of credit.

Here's how credit and collections analysts use credit risk:
  • Processed credit reports for potential customers and determined the credit risk and deposit requirement based on established guidelines.
  • Investigated, analyzed and makes recommendations on client credit risks following company credit and collections policies and procedures.

12. Phone Calls

Phone calls are a wireless or wired connection made over a telephone or a mobile phone between two people. Two parties are involved in a phone call, the caller and the receiver. A caller dials the number of the one he wants to call, and the recipient hears a bell or a tune to which he picks up the call. The call establishes a connection between them through which they can communicate. The voice is converted into signals and is transmitted through wired or wireless technology.

Here's how credit and collections analysts use phone calls:
  • Performed credit analyses, initiated collections phone calls, and communicated with customers and potential customers concerning credit scores.
  • Achieved or exceeded periodic collection goals via timely telephone calls, emails and excellent communication.

13. Credit Reports

Credit reports are statements that carry information about your credit affairs and current credit situation like loan payment history and credit accounts status. A credit report acts as history because it contains the record from the day you opened the account till your account balance. Potential lenders and creditors make use of credit reports and decide whether to offer you credit or not and under what conditions.

Here's how credit and collections analysts use credit reports:
  • Learned to responsibly safeguard confidential paperwork such as credit applications, credit reports, check information and credit card information.
  • Handled approval and credit line recommendations of new customers by corresponding with credit reporting agencies and interpreting financial data.

14. Past Due Balances

Here's how credit and collections analysts use past due balances:
  • Monitored past due balances and initiated Collections activities on non-paying customers.
  • Communicated effectively with customers to collect past due balances.

15. Strong Analytical

Here's how credit and collections analysts use strong analytical:
  • Key Achievement: Consistently met deadlines while demonstrating strong analytical and problem-solving skills to achieve corporate objectives.
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What skills help Credit And Collections Analysts find jobs?

Tell us what job you are looking for, we’ll show you what skills employers want.

What hard/technical skills are most important for credit and collections analysts?

Francisco Depusoir

Associate Professor of Accounting, University of the Virgin Islands

-Basic knowledge of Generally Accepted Accounting Principles (GAAP)
-Experience with business intelligence software.
-Independent research skills.
-Data management abilities.
-Preparation and understanding of financial statements.
Do you want to know more?
Read more about what experts have to say about credit and collections analyst

List of credit and collections analyst skills to add to your resume

Credit and collections analyst skills

The most important skills for a credit and collections analyst resume and required skills for a credit and collections analyst to have include:

  • Customer Service
  • Credit Limits
  • Past Due Accounts
  • Delinquent Accounts
  • Financial Statements
  • Credit Card Payments
  • Reconciliations
  • Credit Memos
  • Credit Worthiness
  • Collection Calls
  • Credit Risk
  • Phone Calls
  • Credit Reports
  • Past Due Balances
  • Strong Analytical
  • Cash Application
  • Collection Efforts
  • Credit Lines
  • Account Balances
  • DSO
  • Credit Hold
  • Collection Issues
  • Accounts Receivables
  • Payment Arrangements
  • Payment Terms
  • Credit Analysis
  • Credit Applications
  • Past Due Invoices
  • Customer Inquiries
  • Billing Issues
  • Cash Flow
  • Customer Disputes
  • Collection Process
  • Customer Accounts
  • Outbound Calls
  • Account Adjustments
  • Bad Debts
  • Financial Analysis
  • Credit History
  • Credit References
  • Collection Agencies
  • Receivable Portfolio
  • ACH
  • Credit Terms
  • Overdue Accounts
  • Customer Issues
  • Release Orders
  • Customer Payments
  • Credit Decisions

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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