No, we're not under the false impression that a single letter will stand alone as a credit. But if you string several of them together in rapid succession, you can get a compelling and effective result. Try a sequence of alternating trays like this:

Text Effect
Credit Template as Media Input
Text
Content
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 S
Credits 3 Line Title on Black_TV.pg Cut S
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 E
Credits 3 Line Title on Black_TV.pg Cut Se
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 R
Credits 3 Line Title on Black_TV.pg Cut Ser
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 I
Credits 3 Line Title on Black_TV.pg Cut Seri
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 O
Credits 3 Line Title on Black_TV.pg Cut Serio
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 U
Credits 3 Line Title on Black_TV.pg Cut Seriou
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 S
Credits 3 Line Title on Black_TV.pg Cut Serious
Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 M
Credits 3 Line Title on Black_TV.pg Cut

Serious

M

Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 A
Credits 3 Line Title on Black_TV.pg Cut

Serious

Ma

Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 G
Credits 3 Line Title on Black_TV.pg Cut

Serious

Mag

Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 I
Credits 3 Line Title on Black_TV.pg Cut

Serious

Magi

Credit Format Letter Transparency_TV1.pg Pop On Zoom Back.mfx, duration = 0.1 C
Credits 3 Line Title on Black_TV.pg Cut

Serious

Magic