According to the Federal Reserve's report, an average adult in 2019 had $5,673 credit card debt. Speaking of credits, odds are, you have applicants requesting your bank to pay their beneficiary on behalf of them. So, you need credit letters for that. Credit letters will testify that the applicant can pay on the deadline, which will make transactions quicker. So, write professional letters with our collection of ready-made Credit Letter Templates in Word. These templates are 100% editable and printable. We can assure you that these letters are expertly written to fit your standards. Download a template now!
How to Create a Credit Letter in Microsoft Word
Before issuing credit letters, banks need to create careful decisions. However, it doesn't stop there. After making a decision, you need to write credit letters to the applicants, telling them if you've approved or not.
So, with the tips below, you can write a formal letter conveying your message.
1. Use Polite and Formal Tone
Since you're writing in a corporate setting, never miss showing politeness and formality. Showing respect through your simple letter would garner a positive response from your applicant. Regardless if you've come up with a favorable decision or not, politeness goes a long way.
2. Write Clearly
Your credit reference letter or credit refusal letter has to contain crystal clear sentences and messages. It has to convey your message accurately without a room for confusion. It would be best if you made an easy explanation for complicated ideas or reasons.
3. Provide Sensible Reasons
Regardless if you've approved or didn't approve the application letter or request, your decisions must be sensible. You can't decide without following the right process. For instance, you can't say no to an applicant worthy of a 'yes' rather than a 'no' and vice versa.
If you failed this tip, the applicant would call to make issues clear or make a complaint. Sadly, this could cause a dispute and would make the process harder.
4. Provide Other Options
For instance, you've declined an application, so you must provide options to help the person complete the process. Write the steps on what he or she should do to get an approval on the business letter. This idea will help the applicant and your bank.
5. Get a Template
When writing isn't your forte, you can choose an alternative that saves you time. This alternative is using a sample letter template for credit letters. We have different credit letters above for different purposes. Select the template that fits your objective and download it. After that, you can edit it on Microsoft Word and send it through email or mail.
