When you want to extend your credit limit you would send this kind of letter to the bank .This document is called letter for credit line extension.
This procedure would allow you to see if you qualify for an extension on your credit line, so it is important that you give the specific reasons for which you need it or explain why you think you deserve such an extension.
This article will show you the proper structure to correctly compose this type of document. We are confident that the following examples will really help you.
Example No. 1 of a letter asking for a credit line extension:
Córdoba, September 3, 2012
FINANCIAL CENTRAL BANK
Avenida Libertad # 500
Ismael De las Casas Meneses
Avenida San Martin No. 45
Subject: Extension of credit line
To whom it may concern:
I write this letter to ask for the extension of my line of credit in 20% over the current limit. My current credit line limit is U.S. $ 5000 per month. However, my income has been increased in 45%, which can be corroborated with the payslips for the last three months that I am adding.
In addition, during the two years as a customer of this bank, I have been very punctual in my payments. I will be aware of your call to coordinate the details of the extension in the shortest time. Thanks for your time. See you soon.
Ismael De las Casas
In the above example, note that the client could justify its request to increase his credit line based on numbers and attached evidence to accelerate the verification process.
Example No. 2 of a letter asking for a credit line extension:
Montevideo, August 24, 2011
Avenida Alfonso Suazo # 601
Cecilia Porta De la Fuente
Avenida Paseo de la Republica No. 1543
Subject: Extension of credit line.
To whom it may concern:
I cordially greet and inform you that I wish to extend my credit line. I am a customer of this bank since 2005, being my maximum credit line of $ 2,000 monthly. Because economic booms in my career path I could increase my income since 2009, now it is 70% higher compared to 2005.
Because of this, I wish to extend my credit line by 30%, since I am able to afford the required amount. We appreciate your interest and prompt communication with me to discuss the procedures and documents needed. Waiting for your positive and prompt response, I say goodbye.
In the second sample letter of credit line extension, we can see that the client justify his demand with numbers, but no attachments that allow managers corroborate what he says.
However, it is also valid to present the card this way, for reasons of personal safety. However, the client is willing to justify what he said in his letter.
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