Corporate Credit Card Limit Increase Request Letter for the United Kingdom

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

A formal written request from a company to their credit card issuer seeking an increase in their corporate credit card limit. The document, governed by English and Welsh law, includes company details, current credit facility information, requested increase amount, and business justification. It typically contains financial information demonstrating the company's ability to manage the increased credit limit and may include supporting documentation such as financial statements and board resolutions.

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Corporate Credit Card Limit Increase Request Letter

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What is a Corporate Credit Card Limit Increase Request Letter?

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.

What sections should be included in a Corporate Credit Card Limit Increase Request Letter?

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

What sections are optional to include in a Corporate Credit Card Limit Increase Request Letter?

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

What schedules should be included in a Corporate Credit Card Limit Increase Request Letter?

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) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Genie AI

Document Type

Letter of Credit

Cost

Free to use
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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