- Getting credit involves a rigorous process. Sometimes the creditor rejects an application. That's because someone makes a mistake in evaluating an applicant's qualifications. Sometimes the lender can't explain the reason to turn down the application. If that's the case with you, this letter will help you get a clear answer. It may also get you reconsidered for the credit.
- Accept the fact that your application was not accepted.
- Request a proper explanation for the denial.
- If you think that there might be some error in getting the right information to the creditor, then you should mention it.
- Request the creditor to review your application again.
[State, ZIP Code]
[State, ZIP Code]
[Subject: Normally bold, summarizes the intention of the letter] -Optional-
Dear [Recipients Name],
Thank you for getting back to me regarding my recent loan application. In your letter, you mentioned that it was being denied due to "poor credit history." I find this quite surprising, because first of all, this is the first large loan that I requested. Secondly, I do not have any outstanding debts. Could you please check again and explain to me how you reached this decision? I cannot help but think that some of the information you have received is inaccurate. Perhaps a review of my accounts will clarify matters. I appreciate any help you can provide me and look forward to hearing from you soon.
[Senders Title] -Optional-
[Enclosures: number] - Optional -
cc: [Name of copy recipient] - Optional -
Letter to request an explanation for denied loan application.
Further things to consider when writing request letters to banks
Request letters are letters written to ask formally or politely for something. Any matter that requires a humble and polite appeal can be put forward using a request letter. It could be a job interview, a promotion, or a favor; a request letter will get the job done. A request letter can be formal or informal depending on the recipient. If you are requesting a friend to do a task for you, for instance, you can choose to go informal. But if you are requesting your manager for a promotion, the letter has to be formal. Either way, a request letter must be sent early enough to give the recipient ample time to process and respond to the request.
When writing request letters, you need to be brief and direct, avoiding any auxiliary information that might weaken the message you are conveying. State exactly and clearly what you are requesting for giving reasons for it. If you are requesting for a raise, for example, explain in details why you think you deserve one. Maintain a polite tone throughout the letter. Close the letter by thanking the recipient in advance and expressing your anticipation for his/her consideration.
Letters to Banks
Letters to banks are letters sent specifically to the banks by their customers. The letters can be addressed to bank managers or any other relevant bank official, based on the situation at hand. There are various reasons why you may want to write a letter to the bank. The most common ones include to request for a new ATM card, to ask for funds transfer from one account to another, or to open or close an account. You can also write to inform the bank about a phone number or postal address change. In all these situations, letters to the bank must remain formal and professional.
Before writing letters to banks, you need to make sure that you have all the information the bank may need regarding your account. Use the standard business greetings. If you know the recipient's name, write to him/her by name. Mention the purpose of the letter. Provide all the necessary information such as account number, name, postal and email address, contact number, etc. as registered with the bank. Be specific and avoid writing the same thing twice. Keep the letter simple and concise. Wrap the letter up by calling the recipient to appropriate action.