Date
Dear Applicant:
Thank you for applying to us for
.
After carefully reviewing your application, we are sorry
to advise you that we cannot [open an account for you/grant a loan
to you/increase your credit limit] at this time. If you would like
a statement of specific reasons why your application was denied, please
contact [our credit service manager] shown below within 60 days of
the date of this letter. We will provide you with the statement of
reasons within 30 days after receiving your request.
Creditor’s Name:
Address:
Telephone
Number:
If we obtained information from a consumer reporting agency
as part of our consideration of your application, its name, address,
and [toll-free] telephone number is shown below. The reporting agency
played no part in our decision and is unable to supply specific reasons
why we have denied credit to you. [You have a right under the Fair
Credit Reporting Act to know the information contained in your credit
file at the consumer reporting agency.] You have a right to a free
copy of your report from the reporting agency, if you request it no
later than 60 days after you receive this notice. In addition, if
you find that any information contained in the report you received
is inaccurate or incomplete, you have the right to dispute the matter
with the reporting agency. You can find out about the information
contained in your file (if one was used) by contacting:
Consumer reporting agency’s name:
Address:
[Toll-free] Telephone
number:
[We also obtained your credit score from this consumer
reporting agency and used it in making our credit decision. Your credit
score is a number that reflects the information in your consumer report.
Your credit score can change, depending on how the information in
your consumer report changes.
Your credit score:
Date:
Scores
range from a low of
to a high of
Key factors that adversely affected your credit
score:
[Number of recent inquiries on consumer report,
as a key factor]
[If you have any questions regarding
your credit score, you should contact [entity that provided the credit
score] at:
Address:
[Toll-free] Telephone
number:
]] Sincerely,
NOTICE: The federal Equal Credit Opportunity Act prohibits
creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex, marital status, age
(provided the applicant has the capacity to enter into a binding contract);
because all or part of the applicant’s income derives
from any public assistance program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection
Act. The federal agency that administers compliance with this law
concerning this creditor is (name and address as specified by the
appropriate agency listed in appendix A).
