What is a letter of decline?
A letter of decline is a formal, official notice provided to an applicant for a product or service that the application was unsuccessful.
This type of notification is often issued by a financial institution or company.
A letter of decline often gives the applicant an opportunity to ask why their application was unsuccessful.
A letter of decline may be accompanied by a letter summarizing the reason for the decline.
When an applicant receives a letter declining their request, they are notified that they can apply for another product or service.