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
Mackenzie Maxwell is a small business owner. She has two businesses, including a martial arts gym in Texas. Prior to building her own, Mackenzie worked with small businesses and organizations to create effective marketing - from churches to insurance companies. She enjoys helping businesses with the startup spirit grow. Mackenzie has been writing in this field for six years and shows no signs of slowing.