Can A Credit firm do this..??

wish_i_was_a_rich_girl

Sorry if this is posted in the wrong catergory but didn't know where else to post....hope someone can help. Thanks!


I opened a Next account some months ago made an order paid it off straight away, and I would continue to order monthly and pay it all before the next statement was due. Then recently I recieved a letter from them telling me they can no longer offer me the credit facility because of bad debt in the past.

My question is... if I have ran a very responsible account with Next giving them no reason to fault me, can they do this? considering I have already opened and run my account for some months.

CLAPTON

yes, they can decide who they allow credit to,
just as you can decide who to spend your money with

marshmallow79

This won't be much help but this is exactly what egg did to a lot of it's CC holders a few months ago (me being one of them).
It's basically next tightening their belts and one of the easiest way for them to do this is take away all available credit.
Look at it this was, you have (just an example) £5000 worth of credit to you but you never use it. What's to stop you going out tomorrow and buying £5000 worth of next stuff and in the process you push then £5000 further into the red? Nothing.
People like you are where they usually start and sadly yes they can do it and chances are you'll never get them to be honest as to why they've done it.

exel1966

wish_i_was_a_rich_girl wrote: »

Sorry if this is posted in the wrong catergory but didn't know where else to post....hope someone can help. Thanks!


I opened a Next account some months ago made an order paid it off straight away, and I would continue to order monthly and pay it all before the next statement was due. Then recently I recieved a letter from them telling me they can no longer offer me the credit facility because of bad debt in the past.

My question is... if I have ran a very responsible account with Next giving them no reason to fault me, can they do this? considering I have already opened and run my account for some months.

I wonder whether a credit check was actually done at the time of account opening ? Have you had problems with payment history/debt on any other cards ? Have you been applying for lots of credit elsewhere recently ?
Answers to those Q's may answer why they've removed your credit facility, which I'm afraid they are fully entitled to do.
Might be worth obtaining your credit file to try and see what may have given them cause to remove your credit.