A credit reference letter is issued by a bank or any other financial institutions. This letter is a document that can provide details about an individual’s past track record with credit. This letter provides the basic information about how long the applicant has held an account, what type of account it was, and whether there were any overdrafts or late payment record. This letter helps an individual to get a credit as one, who holds an authority, refers an applicant to a finance agency regarding the credit.
Here in the sample, a person writes this letter to a financial institute in order to state an individual’s credit score to get a credit from the concerned company.
Sample Credit Reference Letter
Aug 12, 2014
Mr. H Devine
High Street Bank
Mr. D Smith
Dear Mr. Smith,
Sub: Credit reference letter
I am writing this letter to you in order to give credit reference of my client Mr. Brown, as he is looking to buy a property and a suitable mortgage company. Mr. Brown has been banking with our branch for more than ten years and has always been a faithful client.
He currently has a balance of € 1200 in his current account and he also holds a joint savings account with his wife with a balance of € 13000.Mr. Brown is a worthy client and he always maintains positive and healthy balance in both the accounts. Please do not hesitate to call me if you have any further queries.
Mr. H Devine
Given Below are a few credit letter samples for a clearer Idea.
Standby Letter of Credit
The standby letter of credit is issued by banks or financial institutions.
Sight Letter of Credit
A letter of credit that is payable once it is presented along with the necessary documents.
Revolving Letter of Credit
A revolving letter of credit is issued by banks or financial institutions to the clients.
Documentary Letter of Credit
Documentary letter of credit is a well-known fact that a credit facility is important, especially for the people involved in business activities.
Credit Refusal Letter
A credit refusal letter is sent from one party to another during the course of a business, so as to inform the recipient that his/her request for a credit has been denied.