Credit Card Collections: What Can You Learn

Since 2001 my daughter has worked primarily in the credit card collection industry. Yes, she's that voice you hear when you haven't made your credit card payment on time. Time and again, she thinks about leaving the credit card collection business but she continues for one reason - she is good at what she does because of her years of experience.

Working in the credit card collection industry isn't for everyone. A thick-skin is required along with many other skills that serve anyone who will ever deal with the public. A job in credit card collections may not seem like a jumping off point for advancement in a life-time career path, but there are many valuable skills to be learned.

Universal Skills Learned in the Credit Card Collections Industry
In today's job market, time management and computer skills are almost always a necessity. A credit card collections employee must meet a quota of contacts every shift. If the collector spends too much time with any one call, they may not meet that quota. Of course, not enough time spent on the call can result in a failure to collect.

While most credit card collection agencies each have their own software systems, the 10-key and keyboarding skills necessary are universal. These skills can carry over to any computer-related career choice.

People Skills Learned in the Credit Card Collections Industry
One reason my daughter succeeds in collections is her personal guideline when dealing with delinquent accounts: "Treat everyone how you want your grandmother to be treated."

Effective communication is essential in the collections industry. Learning how to listen to what might not be spoken as well as asking the proper questions in an effective way leads to success in collections or any customer service or sales position.

My daughter has also learned that another major component of her success in collections is her empathy. Understanding that she is one layoff from being in the exact same position as the delinquent account holder makes it easier to accept the occasional abuse.

Credit card collections are a sad fact of life in the United States. Even if you consider a job in collections just to "get you through" until something better comes along, you can learn or improve upon skills that will help you in many other careers and life itself.