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Credit Reference Letter  

When a U.S. credit report does not list at least four traditional credit accounts held for a minimum twenty-four month period, you will need to show your lender proof of credit history for other types of credit accounts to build a nontraditional credit history. These accounts can generally include utilities, gym memberships, daycare, tuition, auto insurance, health insurance, and things of that nature. For these accounts that are not reported to the credit bureaus, including foreign-opened credit accounts, a lender will generally accept a credit reference letter from the creditor to confirm account existence, terms of credit, and payment history to build your credit file.

You will need to request a reference letter from your creditor written on company letterhead, signed, and dated by an authorized representative of the creditor and with that person’s contact information listed (name, title, telephone number, email address, street address). The letter should include the following:

1. Date account opened ���

2. Type of account (revolving or installment) ���

3. Name of account owner(s) ���

4. Terms of credit ���

5. Amount of credit offered ���

6. Current balance ���

7. Minimum required monthly payment ���

8. Current monthly payment ���

9. Twenty-four month payment history ���