Question
Write a professional-quality letter advising applicant Robert Garneau-Hadfield that his application for a Bank of Montreal Gold AIR MILES MasterCard has been declined. Facts that
Write a professional-quality letter advising applicant Robert Garneau-Hadfield that his application for a Bank of Montreal Gold AIR MILES MasterCard has been declined.
Facts that are relevant to the decision are as follows:
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You are writing this letter on behalf of your supervisor, Bjarni Tryggvason, whose title is Manager, Credit Services. However, the recommendation to decline the application was yours.
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To qualify for the Gold Card the applicant must:
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Have at least one year of employment with the same employer;
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Own a home for at least six months, or rent the same home for at least one year;
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Have an income of at least $45,000 per year;
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Have a credit rating acceptable to Bank of Montreal.
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To qualify for the standard AIR MILES MasterCard the applicant must meet the same eligibility requirement as for the Gold Card, except that the applicant must:
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Have an income of at least $25,000 per year.
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As of the date of application, Robert has owned a home for 13 months, had an income of $42,500 in 2020, and has an acceptable credit rating.
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Roberta took a new job with a new employer on February 1, 2020.
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The Gold Card has the following benefits:
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Minimum credit limit of $5,000.
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Collision damage waiver insurance on cars rented with the card.
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1 AIR MILES reward mile per $20 of purchases.
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Annual fee of $99.
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The bank has another credit card with easier eligibility requirements. This standard card has the following benefits:
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Minimum credit limit of $1,000.
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1 AIR MILES reward mile per $40 of purchases with no annual fee.
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1 AIR MILES reward mile per $20 of purchases, if an annual fee of $40 is paid.
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If any other information is missing that you feel is required or necessary, feel free to make reasonable assumptions. Please state the assumptions separately from your letter, so that I know what they are when I grade your letter.
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