Next Directory - Reduced Credit Limit to zero

jillc123

I've been with Next Directory for many years and recently for some reason they suddenly advised me that my credit was reduced from £3K to £0. I don't understand why. My balance was under £500, I always paid on time (I think I may have been late once). Can anyone explain why they would have done this?:)

MyLastFiver

They're probably going through a programme of reducing risk exposure. That late payment, plus any revolving balances, probably lowered your behaviour score enough to get you included in the cull.

Dont worry about it - if they don't want your business you can shop somewhere else

mrs:optimist_2

Could it be a mistake? Usually when credit companies write to advise you that your credit limit has changed (and you have been a good customer) it's to tell you that it's going up, not down!

Were you advised by letter? If so then does it say 'we are happy to advise' or 'unfortunately' or any wording that gives you an indication of the nature of the letter?

Maybe give them a call?

HTH

never-in-doubt

Next credit limits are always fluctuating, it is normal with them - god knows what they are playing at - it seems their systems cannot cope with the CRA sharing programs and so drop the limits each month they obtain their CAIS/INSIGHT feeds from the CRA's

savingmummy

Their APR is high anyway so probably doing you a favour hehehe!!
When i was with them i never had any changes, but have heard many people say their limits were always up and down.

brians_daughter

I have been a directory customer 12 years or so. My credit limit was reduced to zero in november, with a balance of £89. I paid the £89 as i always pay in full when statement comes in. December my limit went to £2200. Feb its gone to £5,700

I asked them why and they said they get 'feeds' from the CRA's every month so if you have a late payment on another account or have had a credit limit increase on a cc they will lower limit.

If you have a balance and a zero credit limit it will not impact your credit report, i checked this with them. It will show on your report as a balance of say £100 and a limit of £100 so it will show you are up to your limit but it will not show over limits etc

bellrooster

This happened to me once and I rung and found it was a mistake! Although my online account said my limit was £0, I actually still had my £1000 limit. Might be worth ringing and double checking with them.

WASHER

Mine goes up and down constantly, and I don't even use it anymore, Next isn't what it used to be, cheap quality clothing at high prices.