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How Do I Become a Credit Broker?

Article Details
  • Written By: Jessica F. Black
  • Edited By: Allegra J. Lingo
  • Last Modified Date: 18 February 2020
  • Copyright Protected:
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    Conjecture Corporation
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The steps to become a credit broker may vary depending on the firm and the type of position that the applicant wishes to obtain. Some credit brokers have a minimal associate's degree, but this form of education does not usually leave room for advancement. The best method to successfully become a credit broker is to go to school for a bachelor's degree in finance or other business related topics. Students need an enhanced knowledge of mathematics and should frequently review current financial events in order to familiarize themselves with the industry. Candidates will need to have a variety of interpersonal skills and should be able to work in a stressful environment.

There are many universities that have accredited business or finance programs, and students should choose a school that suits their needs. Coursework may include economics, essentials of finance, accounting, marketing, business management, and several advanced math courses. A bachelor's degree program generally takes four years, whereas the associate's degree program usually lasts two years. Higher degrees in finance will provide more opportunities for a student planning to become a credit broker. Experience is also very important in obtaining a position with a brokerage firm.

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Internships or part-time jobs with firms that specialize in the credit business is an excellent opportunity to acquire additional experience needed to become a credit broker. Many college campuses hold job fairs that list these types of opportunities, and students should take advantage of any experience available. Most of these jobs allow interns to observe the finance methods used in credit brokerage firms and may also assist in duties under supervision. There are several categories of credit brokers, and internships enable students to decide which position they would prefer.

After graduation and receiving a degree, graduates should research local requirements to practice as a credit broker. Some locations require certain types of brokers be licensed, and applicants should find out the specifications needed to become a credit broker in the area they intend to work. In areas that do require licensing, most brokerage firms will hire employees and guide them through the process.

Additional skills needed to become a credit broker may include communication skills, negotiation abilities, problem solving techniques, and the ability to translate financial jargon into everyday vernacular. A credit broker primarily mediates between clients and credit companies, which is the main reason that employees should have polished interpersonal skills. This career has a lot of room for advancement, and there are a variety of positions to choose from. Some students discover their career during an internship, which can eliminate the job search. Otherwise, he or she should create a resume that reflects the necessary education and experience information needed to perform this position.

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