Next catalogue accounts

bellrooster

Sorry if this is in totally the wrong place - I nearly put it in credit cards, but then it's not a credit card it's a credit account!

Just a quick questions, I've had my next account for about 18 months now, it started at £200 credit limit - and for the past few months it's been £1500 credit limit. I pay on time every month and I've never missed a payment, but this morning I've just discovered that my credit limit has been halved!

It's not a problem as I would never need to use the £1500, I'm just confused why it's been lowered?

any ideas?

proplusplus

I'd say it's prob to do with the credit storm brewing.

less lending in general, therefore halve your lending limit. I think they have to give you some notice though.

proplusplus

bubblegumcola

Maybe Next are just being a responsible retailer for a change?

Most companies whack up your credit limit without telling you, I just phoned mine to reduce it back to its normal limit the other week as they had put it up by 1000 quid. It wasn't Next but M&S.

You could always phone Next and ask why its been reduced.

sammie383

Next regularly look at accounts to make sure there giving out the correct limits.

When I opened my aco!!!! it said I had a £250 limit, then when I got my statment it said £150, I phoned and queried it and they just said after reviewing my account ( I hadnt bought anything! ) they were reducing it.

Then I bought some things, and looked online at my account, and although it told me my limit was £150, and I hadn't spent that much, it said I had no available credit?? confused...I was lol!

So I called them up again and spoke to a really nic eman who told me that every month they get a score from the CRA's and that last month my score had dropped ( no idea why? ) so online it told me I had no available although I did so I had to call to order to ensure it went through ok. He then said that this month my score has increased dramatically (?) and that the limit has gone back upto £250, but that he has put a reserve on it that I can spend upto £400 as I manage my account well!

Well I get my statement through and it says my limit is £300 lol! and i suppose I'll still have that reserve, but no need to use it.

Hope my rambalings help a little....

bellrooster

yes thank you! it helped a lot!!

kerrydrobertson

my husband has had an account for the past few years and had a credit limit of £200, was increased to £800 a few months ago and then had a letter through saying the account was being closed. not that it matters too much, just payed it off in full anyway so may as well just go into the shop now.