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Credit Reference Clerk Careers

What Does a Credit Reference Clerk Do

Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.

Duties

Financial clerks typically do the following:

  • Keep and update financial records
  • Compute bills and charges
  • Offer customer assistance
  • Carry out financial transactions

Financial clerks give administrative and clerical support in financial settings. Their specific job duties vary by specialty and by setting.

Billing and posting clerks calculate charges, develop bills, and prepare them to be mailed to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to compute fees or charges due. They also contact customers to get or give account information.

Gaming cage workers work in casinos and other gaming establishments. The “cage” in which they work is the central depository for money and gaming chips. Gaming cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions in order to balance books.

Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They ensure that employees are paid on time and that their paychecks are accurate.

Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. They handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the purchaser’s specifications.

Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers evaluate customers’ computerized credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers call or write credit departments of business and service establishments to get information about applicants’ credit standing.

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.

New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.

Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers’ requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to ensure that all questions have been answered. They also notify insurance agents and accounting departments of policy cancellations or changes.

How To Become a Credit Reference Clerk

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Average Salary
$52,797
Average Salary
Job Growth Rate
5%
Job Growth Rate
Job Openings
40,814
Job Openings

Average Salary for a Credit Reference Clerk

Credit Reference Clerks in America make an average salary of $52,797 per year or $25 per hour. The top 10 percent makes over $85,000 per year, while the bottom 10 percent under $32,000 per year.
Average Salary
$52,797
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Credit Reference Clerk Demographics

Gender

female

65.1 %

male

23.8 %

unknown

11.1 %

Ethnicity

White

61.8 %

Hispanic or Latino

15.1 %

Black or African American

13.8 %

Foreign Languages Spoken

Mandarin

33.3 %

French

33.3 %

Chinese

33.3 %
See More Demographics

Credit Reference Clerk Education

Majors

Degrees

Bachelors

57.1 %

Certificate

12.2 %

High School Diploma

12.2 %

Top Colleges for Credit Reference Clerks

1. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

2. Johns Hopkins University

Baltimore, MD • Private

In-State Tuition
$53,740
Enrollment
5,567

3. California State University - Long Beach

Long Beach, CA • Private

In-State Tuition
$6,798
Enrollment
31,503

4. University of California - San Diego

La Jolla, CA • Private

In-State Tuition
$14,167
Enrollment
30,279

5. University of Maryland - College Park

College Park, MD • Private

In-State Tuition
$10,595
Enrollment
30,184

6. University of Washington

Seattle, WA • Private

In-State Tuition
$11,207
Enrollment
30,905

7. Clemson University

Clemson, SC • Private

In-State Tuition
$15,374
Enrollment
19,564

8. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

9. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

10. University of South Florida

Tampa, FL • Private

In-State Tuition
$6,410
Enrollment
31,321
See More Education Info

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Top Credit Reference Clerk Employers

1. Spartanburg County Public Libraries
3.5
Avg. Salary: 
$40,395
Credit Reference Clerks Hired: 
2+
2. San Jose City College
4.0
Avg. Salary: 
$32,615
Credit Reference Clerks Hired: 
2+
3. Orange County Library System
3.1
Avg. Salary: 
$37,676
Credit Reference Clerks Hired: 
2+
4. Hyatt Hotels
4.3
Avg. Salary: 
$38,536
Credit Reference Clerks Hired: 
1+
5. Frederick County Public Schools
4.4
Avg. Salary: 
$30,557
Credit Reference Clerks Hired: 
1+
6. Iron Mountain
4.5
Avg. Salary: 
$46,863
Credit Reference Clerks Hired: 
1+
Updated October 2, 2020