How to raise credit score with a goodwill letter

In this post, we’ll show you how you can boost your credit score through a goodwill letter.

What is a goodwill letter?

A goodwill letter is a letter sent to a creditor (not a credit bureau) to explain a previous behaviour that negatively affects your credit rating. Perhaps you experienced special circumstances that delayed or stopped you from paying your bills on time (maybe you moved, were ill, lost your job, or were sick). Whatever the reason, this has affected your credit score.

The letter's purpose is to ask the creditor to reconsider their report to the credit agency and remove your infraction notice. This can boost your credit rating.

How to write a goodwill letter

You need to remember when writing the letter that you’re asking for a favour, so:

Be genuine

You are at fault and in violation of your cardholder or loan agreement. So admit it, and be apologetic and humble.

Be clear

Include your account number in the letter. Be very specific about what the ask is (removing the infraction).

Explain what happened

You need to tell them exactly what happened and provide proof if you can. Keep your letter short. If possible, send the letter in the mail, not as an email (mailing it will reflect its importance).

Your payment history is one of the most important factors in determining your credit rating. So, if you have legitimate reasons for missing payments, consider writing a goodwill letter to increase your credit score.