While it may seem intimidating at first, writing a letter asking for a reduction in fees can save you serious money. With a few personal details and a well-written letter, you can reduce bank fees, waive application costs and even lower loan rates.

If you just made a human error in your financial planning, you're experiencing extreme financial stress, or your credit score has recently gone up, it may be worth the effort. However, you should ensure that your request letter for fee reduction has the right information and tone.

Do Your Research

Write a Sincere and Thorough Letter

Sample Letter: Request to Reduce Interest Rate