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Corporate Credit Card Limit Increase Request Letter Template for England and Wales

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Key Requirements PROMPT example:

Corporate Credit Card Limit Increase Request Letter

"Need to draft a Corporate Credit Card Limit Increase Request Letter for our manufacturing company, requesting an increase from £50,000 to £150,000 due to international expansion plans starting January 2025, with emphasis on our strong payment history and growing revenue."

Document background
The Corporate Credit Card Limit Increase Request Letter is a crucial document used when businesses need to expand their credit facilities. Under English and Welsh law, this document serves as a formal application to the card issuer, typically necessitated by business growth, increased operational expenses, or changing business needs. The letter should include comprehensive company information, current credit usage patterns, and clear justification for the increase request, along with supporting financial documentation to demonstrate creditworthiness.
Suggested Sections

1. Company Details: Full registered company name, registration number, and address

2. Card Account Information: Current credit card number, account details, and existing credit limit

3. Requested Increase Amount: Specific amount of credit limit increase being requested

4. Business Justification: Clear explanation of why the increase is needed

5. Financial Information: Current company financial status and ability to manage increased credit

Optional Sections

1. Payment History: Details of past payment performance, use when company has strong payment record

2. Business Growth Metrics: Information about company growth, use when increase is due to business expansion

3. Additional Security Offered: Details of any additional security being offered, use when requesting substantial increases

Suggested Schedules

1. Financial Statements: Recent company financial statements or management accounts

2. Board Resolution: Copy of board resolution authorizing the credit limit increase request

3. Transaction History: Recent credit card transaction history showing usage patterns

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



















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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Consumer Credit Act 1974: Primary legislation governing credit arrangements in the UK. While mainly focused on consumer credit, certain provisions may apply to corporate credit arrangements

Financial Services and Markets Act 2000 (FSMA): Core legislation that regulates financial services and markets in the UK, establishing requirements for financial institutions

Payment Services Regulations 2017: UK implementation of EU Payment Services Directive (PSD2), governing payment services including credit card transactions

GDPR and Data Protection Act 2018: Data protection legislation crucial for handling financial information and personal data in credit arrangements

Companies Act 2006: Key legislation governing corporate authority, signing requirements, and directors' duties in making financial decisions

Money Laundering Regulations 2017: Regulations covering Know Your Customer (KYC) requirements and anti-money laundering considerations in financial transactions

FCA Handbook: Regulatory framework outlining requirements for financial institutions and business conduct rules

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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