Set policy for re-reviewing and raising credit limits

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Reference no: EM132229052

Yang-Ming Lee applied for VISA card, asking for a credit limit of $15,000 and a separate card for her husband, Chad Hoang. You have checked the references and they’re good enough to merit granting a credit card. But you generally give new customers only a $7,500 limit, even when the family income is very high, as it is in this case. You might make an exception if your bank had a previous relationship with the client, but no such relationship exists here. Although you have no set policy for re-reviewing and raising credit limits, normally you would expect at least six months of paying the minimum amount promptly.

Write a letter to Ms. Lee, granting her a credit with a $7,500 limit.

Reference no: EM132229052

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