NEXT and their up n down credit limit!

blue35_2

same happened to me - customer of 10 years.Placed a order recently, they then decided to drop my limit below my balance and not bother to tell me my order was cancelled!

furious to say the least - not at the limit drop - thats up to them, but to the fact they canceled my order.

for the record my credit files are spotless...

xgingerx

Hi, well i havent got a clue, i opened my next account years ago, got a 600 limit which was upped to 3600, then i got in trouble went on Arrangement to pay for over a year, during that time I had credit limit of 450 which was what i owed and then i started making contractual payments again and immedialty they upped my limit to 600 and after 3 months they upped it back to 3600 !! Any believe my credit file is trashed big time, 4 defaults, AP, missed payments the lot, now if what some are saying is that they check your file then surely my credit limit would be zero. Ive had my account back in order at 3600 for the last year.

Interesting isnt it ?

fawinds

I don't believe they search credit files as I have never had a search from them but the one when I opened the account.

Some sort of internal scoring?

cifpower

fawinds wrote: »

I don't believe they search credit files as I have never had a search from them but the one when I opened the account.

Some sort of internal scoring?

They get a monthly feed from the CRAs; they do not need to perform a search for this

xgingerx

cifpower wrote: »

They get a monthly feed from the CRAs; they do not need to perform a search for this

There scoring system must be a joke if they do then, as my file as it is no one would touch me?

Dabooka

blue35 wrote: »

same happened to me - customer of 10 years.Placed a order recently, they then decided to drop my limit below my balance and not bother to tell me my order was cancelled!

furious to say the least - not at the limit drop - thats up to them, but to the fact they canceled my order.

for the record my credit files are spotless...

Have you checked them then? I'd be a little concerned if all of a sudden they reduced my limit and cancelled an order. Something's rattled them or why would they do this?

blue35_2

yeah I checked both Experian and Equifax and no issues at all - I actually wrote to there customer complaints who are looking into it - as I say my concern was that they cancelled an order and never bothered to tell me - not the credit limit drop.Anyway they called me and apologised and said they could not see why the sudden change - its still ongoing - they did release the order - albeit too late.

As another poster said - every month there computer scores you.Although one thing I was told by Next is the scorecard has got tougher.

Bosie

Brian1966 wrote: »

I'm always around...lurking and watching :rolleyes:
Been very busy with work etc but have a quick look on here most days.
Where has your 'whip' gone Bosie

Oh Brian the whip gave me wrist problems:D
x

Kyresa

blue35 wrote: »

As another poster said - every month there computer scores you.Although one thing I was told by Next is the scorecard has got tougher.

Yep, that's what I got told, but bloomin heck, score it tougher for NEW applicants, not those you already have had a perfect credit relationship with!!! :rolleyes:

stella2009

From their perspective they are just safeguarding themselves.

Although you may have a perfect history with them, if you are starting to have issues with other credit providers it will almost always spill over to other creditors.

So they are just making sure it doesn't happen.