Credit processor vs processor

The differences between credit processors and processors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 3-6 months to become a credit processor, becoming a processor takes usually requires 6-12 months. Additionally, a processor has an average salary of $32,098, 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 processor are data entry, customer service, and patients.

Credit processor vs processor overview

	Credit Processor	Processor
Yearly salary	$31,890	$32,098
Hourly rate	$15.33	$15.43
Growth rate	-3%	-3%
Number of jobs	11,088	11,448
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 35%
Average age	44	50
Years of experience	6	12

Credit processor vs processor salary

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

	Credit Processor	Processor
Average salary	$31,890	$32,098
Salary range	Between $26,000 And $38,000	Between $24,000 And $41,000
Highest paying City	-	Randolph, MA
Highest paying state	-	California
Best paying company	-	Argonne National Laboratory
Best paying industry	-	Finance

Differences between credit processor and processor education

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

	Credit Processor	Processor
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	-

Credit processor vs processor demographics

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

	Credit Processor	Processor
Average age	44	50
Gender ratio	Male, 25.3% Female, 74.7%	Male, 34.0% Female, 66.0%
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, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1%
LGBT Percentage	9%	7%

Differences between credit processor and processor 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.

Processor example responsibilities.

Manage the project schedule and design the PowerPoint presentation.
Manage a monthly pipeline averaging 100 files from origination to funding per month as a Jr. processor.
Coach fellow team members to help attain higher QA and assist with CANDE questions to ensure efficiency.
Manage the ordering of homeowner's association estoppel letters for payoffs; as well as surveys and clear lien searches.
Obtain title policies and process title claims to expedite REO closings and obtain clear title to properties in numerous states.
Mail clerk, stamp, open, count mail and match checks with EOB 's

Credit processor vs processor 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 processor skills

Data Entry, 19%
Customer Service, 18%
Patients, 11%
Standard Operating Procedure, 6%
Strong Customer Service, 5%
Bank Deposits, 5%