Letter 2.15.

Date: 2015-10-07; view: 515.

Letter 2.14.

CREDIT LETTERS

The Credit Department is closely associated with the Adjustment De­partment in most organizations, but its letters are concerned with a larger variety of situations. Credit men not only grant or refuse credit, they must also acknowledge requests for credit, obtain information from credit references, supply information to inquirers, reactivate old and unused charge accounts, and promote new accounts. All these duties are in addi­tion to keeping accounts up-to-date through proper collection follow-up.

The careful judgment exercised by credit men in granting and pro­tecting credit is evidenced by the fact that an estimated 90 % of American business is done on credit, and less than one-half of one percent must be written off as a loss. This remarkable record is possible because credit men have been more concerned about good letters than any other business group except, perhaps, those who sell by direct mail. Because credit men are interested in having as many people as possible shop on credit, they are constantly selling good will in every letter.

A letter acknowledging an application for credit should welcome the customer and express appreciation of his order or request, explain the credit policy and terms, request references, and encourage a prompt response by explaining that the information will expedite the opening of his account.