Credit processor vs credit investigator

The differences between credit processors and credit investigators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 3-6 months to become both a credit processor and a credit investigator. Additionally, a credit investigator has an average salary of $34,703, which is higher than the $31,890 average annual salary of a credit processor.

The top three skills for a credit processor include data entry, customer service and financial statements. The most important skills for a credit investigator are financial statements, loan applications, and credit bureau reports.

Credit processor vs credit investigator overview

	Credit Processor	Credit Investigator
Yearly salary	$31,890	$34,703
Hourly rate	$15.33	$16.68
Growth rate	-3%	-3%
Number of jobs	11,088	9,442
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 57%
Average age	44	44
Years of experience	6	6

Credit processor vs credit investigator salary

Credit processors and credit investigators have different pay scales, as shown below.

	Credit Processor	Credit Investigator
Average salary	$31,890	$34,703
Salary range	Between $26,000 And $38,000	Between $27,000 And $43,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between credit processor and credit investigator education

There are a few differences between a credit processor and a credit investigator in terms of educational background:

	Credit Processor	Credit Investigator
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 57%
Most common major	Business	Business
Most common college	University of Pennsylvania	Stanford University

Credit processor vs credit investigator demographics

Here are the differences between credit processors' and credit investigators' demographics:

	Credit Processor	Credit Investigator
Average age	44	44
Gender ratio	Male, 25.3% Female, 74.7%	Male, 28.5% Female, 71.5%
Race ratio	Black or African American, 9.8% Unknown, 3.9% Hispanic or Latino, 17.4% Asian, 4.0% White, 64.4% American Indian and Alaska Native, 0.6%	Black or African American, 10.5% Unknown, 3.9% Hispanic or Latino, 17.1% Asian, 3.9% White, 64.0% American Indian and Alaska Native, 0.6%
LGBT Percentage	9%	9%

Differences between credit processor and credit investigator duties and responsibilities

Credit processor example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Obtain credit reports, run background checks
Review specific lender guidelines for conventional, FHA and VA refinance/purchase transactions.
Analyze personal credit reports and Dunn & Bradstreet business credit reports.
Review closing agents' packages after closing, wire funds and review HUD-1 documents.
Verify all documentation meets FHA guidelines and regulations.

Credit investigator example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Utilize credit reports such as Experian, Transunion Equitifax.
Work on A/R and billing for a manufacturing company specializing in premium orthopedic, reconstructive and postoperative products.
Provide direct service with customers to process loan modifications, typically under SBA regulations.

Credit processor vs credit investigator skills

Common credit processor skills

Data Entry, 16%
Customer Service, 15%
Financial Statements, 6%
Credit Card Processing, 5%
Credit Card Payments, 5%
Credit Bureaus, 4%

Common credit investigator skills

Financial Statements, 15%
Loan Applications, 10%
Credit Bureau Reports, 7%
Credit Applications, 7%
Credit Investigations, 6%
Credit Worthiness, 5%