Credit Explanation Letter
[YOUR NAME]
[YOUR ADDRESS]
[YOUR EMAIL]
[YOUR PHONE NUMBER]
[DATE]
[RECIPIENT'S NAME]
[RECIPIENT'S COMPANY NAME]
[RECIPIENT'S ADDRESS]
Subject: Explanation of Credit Inquiry
Dear [RECIPIENT'S NAME],
I am writing to explain the recent credit inquiries on my report that you referred to in your recent correspondence. I understand their importance with regard to my application and wish to provide you with a comprehensive context.
On [DATE], a credit check was conducted by [NAME OF THE ENTITY] as I was in the process of [MENTION REASON] - e.g., securing a car loan, applying for a mortgage, etc. I sought to identify the best terms available, which necessitated multiple inquiries from similar service providers.
Additionally, another inquiry dated [ANOTHER DATE] was performed by [ANOTHER ENTITY], related to [EXPLAIN REASON]- e.g., a credit card application, a required check by a leasing office, etc.
Please note that these inquiries were both necessary and deliberate and part of [EXPLAIN THE CONTEXT] - e.g., ongoing financial management activities, exploring financing options for an impending large purchase, etc. I am vigilant in managing my credit utilization and ensuring I make informed decisions that support my financial stability.
I trust this clarifies any concerns regarding my credit report. Should you need any more detailed information, feel free to contact me directly at [YOUR EMAIL] or by phone at [YOUR PHONE NUMBER]. Thank you for your attention to this matter and for your understanding.
Sincerely,
[YOUR NAME]
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