This form is a sample letter in Word format covering the subject matter of the title of the form.
Dear [Customer's Name], We regret to inform you that your recent application for an individual charge account with our company has been denied. After careful review of your credit history and financial information, we have determined that we are unable to approve your request at this time. Our decision is based on several factors, including but not limited to: 1. Credit History: Upon reviewing your credit report, we found that you have a significant number of late payments and delinquencies. These negative marks indicate a higher risk for defaulting on payments, resulting in a potential loss for our company. 2. High Credit Utilization: Your credit card balances and loan amounts currently comprise a large portion of your available credit. This demonstrates a higher level of financial dependence and raises concerns about your ability to manage additional credit responsibly. 3. Insufficient Income: The income information provided on your application does not meet our minimum requirements for granting an individual charge account. This indicates a potential inability to meet payment obligations on time. Please note that this decision is not a reflection of your personal character or financial responsibility. Our goal is to protect both our company and our customers by carefully assessing creditworthiness in accordance with established standards. If you have any questions or require additional information about our decision, please do not hesitate to contact our customer service department. We understand that this news may be disappointing, and we appreciate your understanding in this matter. Sincerely, [Your Name] [Company Name] [Company Address] [City, State, ZIP] [Phone Number] [Email Address] Keywords: Utah, sample, letter, denial, individual charge account, credit history, financial information, credit report, late payments, delinquencies, risk, defaulting, credit utilization, financial dependence, manage credit, income, minimum requirements, payment obligations, character, financial responsibility, protect, customers, decision, customer service department, disappointing, understanding.
Dear [Customer's Name], We regret to inform you that your recent application for an individual charge account with our company has been denied. After careful review of your credit history and financial information, we have determined that we are unable to approve your request at this time. Our decision is based on several factors, including but not limited to: 1. Credit History: Upon reviewing your credit report, we found that you have a significant number of late payments and delinquencies. These negative marks indicate a higher risk for defaulting on payments, resulting in a potential loss for our company. 2. High Credit Utilization: Your credit card balances and loan amounts currently comprise a large portion of your available credit. This demonstrates a higher level of financial dependence and raises concerns about your ability to manage additional credit responsibly. 3. Insufficient Income: The income information provided on your application does not meet our minimum requirements for granting an individual charge account. This indicates a potential inability to meet payment obligations on time. Please note that this decision is not a reflection of your personal character or financial responsibility. Our goal is to protect both our company and our customers by carefully assessing creditworthiness in accordance with established standards. If you have any questions or require additional information about our decision, please do not hesitate to contact our customer service department. We understand that this news may be disappointing, and we appreciate your understanding in this matter. Sincerely, [Your Name] [Company Name] [Company Address] [City, State, ZIP] [Phone Number] [Email Address] Keywords: Utah, sample, letter, denial, individual charge account, credit history, financial information, credit report, late payments, delinquencies, risk, defaulting, credit utilization, financial dependence, manage credit, income, minimum requirements, payment obligations, character, financial responsibility, protect, customers, decision, customer service department, disappointing, understanding.