Job type

Credit manager

£27k - £50k

Typical salary

37 – 39

Hours per week

Credit managers control the amount of credit offered by a company and manage the debts it is owed.

More info

  • Requires the ability to lead and motivate a team, as well as good business sense and commercial awareness
  • With experience, option to progress into senior management or move to a larger company
  • Option to move into insolvency work with an accountancy firm or become a self-employed consultant

As a credit manager, you may work for a finance company or any organisation that sells goods or services on credit. There are 2 main areas of work: commercial credit (dealing with business customers) and consumer credit (dealing with private customers).


  • Checking customer credit ratings with banks and credit reference agencies
  • Deciding whether to offer credit
  • Setting up terms of credit and making sure the customer pays on time
  • Managing a team of credit controllers or accounting technicians
  • Negotiating repayment plans
  • Stopping supplies of goods to late-paying business customers
  • Starting legal action to recover debts if necessary
  • Liaising with other creditors
  • Arranging for goods to be recovered by bailiffs or dealing with liquidators if a company's assets are to be sold off

In a small company you might also carry out general accounting and administrative work.


Overtime may be necessary at busy times, like the end of the financial year. You'll usually be office-based, but you may also visit customers or attend court. 

You'll need

There are no set requirements for this role, but most credit managers have already gained experience and qualifications as credit controllers, sales administrators or debt collection agents. You could also move from other financial areas like accountancy or banking.

You could start as a credit controller with a company and take training on the job to move into a management role. Training could include qualifications like the Level 3 Diploma in Credit Management offered by the Chartered Institute of Credit Management (CICM). The CICM also has qualifications in areas like debt collection, enforcement action and senior management.

Having a related diploma, foundation or degree in business, finance or accounting may also help your job prospects.

You could also take a college course like a Level 3 Diploma in Personal and Business Finance. You could then apply for jobs with a credit control company. Courses in accounts or finance are also suitable.

Alternatively, you could complete a credit controller advanced apprenticeship, then apply for a management trainee post.


With experience, you could progress into senior management or move to a larger company. Alternatively, you could move into insolvency work with an accountancy firm or become a self-employed consultant, advising businesses on credit systems.