Credit information is the complete history of one person’s credit card or credit account in a bank. This information includes all kinds of activities on a credit card and it is placed in a permanent record for verification purposes. If you apply for a loan or a new credit card, the services provider will inquire about your credit history in order to evaluate you and your credit habits. There are many companies worldwide that keep the credit information of individuals and corporations and upon request by other companies; they provide the information to them.
Introduction to the Credit Information Request Letter:
Suppose that someone asks you to borrow him some money and before you give him any money, you need to make sure that if the borrower has the ability to return the money safely or if he will go defaulter somehow. This is where the credit information steps in and helps the banks, credit card companies, and mortgage loan firms. When you apply for a loan or a new credit card, the service provider informs you that he will inquire about your credit history. After that, he will make a formal request to your credit card company to provide him with your complete credit history. With this information, he will evaluate if you qualify for the credit or loan that you applied for and if you have good credit habits i.e. no overdue payments, no late payments, etc. It is important that before you apply for any loan or credit account, you request your own credit information in order to see if there is anything wrong or out of the ordinary. This way when the requester finds out these loopholes in your credit history, you can answer him with preparation.
What kind of information is recorded on Credit?
There are many things recorded on the credit information of credit card and credit account holders either individuals or corporations. This includes:
- Overdue credit details
- Details of credit inquiries you made with the credit card company in the last five years
- The details of your credit account i.e. account type, opening and closing dates, etc.
- History of your monthly payments with payment amount and dates when you made the payments
- If you filed for or were declared bankrupt by the court
- Judgments of the court in which you pursued your credit hearings
Key elements to include in the Credit Information Request Letter:
- Name of the person who is requesting the credit information with complete address
- Name of the company that is requesting the credit information
- Name of the credit card or credit account holder with complete address
- Date when the request is being made
- Details of the credit card or credit account i.e. type, amount of credit, opening dates, etc.
- Reasons for requesting the credit information regarding an individual or a corporation
- Precise statement that anything other than the requested elements will be appreciated greatly by the requester
- Duration in which the credit information is required by the requester
- Signature of the person who is requesting the credit information
Here is a preview of a Free Sample Credit Information Request Letter created as a fill-able PDF Form,
Here is the download link for this Credit Information Request Letter,
