Very.co.uk

Craig_Donny

Hey,

Not sure if this is in the right place, please move if not and im sorry.

But i have just used mine and a friends account to purchase something off very.co.uk

We then both got emails saying that we have been approved for a credit limit online. And on the my account details it has -£30, although we only spent 19.95 each, which is odd.

We also paid directly with a mastercard anyway, so dont know why they did this?

Anyone help? Will it be waiting for the payment to go through then it will go? isit just an example? I have no clue!

Thanks in advance

Craig

david39

It is common practice amongst mail order companies these days for them to set you up with a credit account, even if you pay them immediately by credit card.
Very is a division of J D Williams - a large mail order group of companies. If you Google them, you will be able to find their terms and conditions and I'm sure that if you delve into them, somewhere it will say that if you order from them they will automatically set up a credit account, subject to searches. It probably declared this in small print on the form you filled in when you ordered and paid for the first item.
A credit limit of £30 has been set as an interim measure until a human looks at the credit report and decides on a (probably) larger figure.
The fact that you spent less than £20 with them will not show against that £30 limit as it is already covered by your card payment.
No harm will have been done and you do not have to actually use the credit account, although the search will have been recorded on your credit record.

Craig_Donny

Yeh but the problem is they have set me a limit of like 500 or something anyway and then 30 has come of that.

Bosie

david39 wrote: »

It is common practice amongst mail order companies these days for them to set you up with a credit account, even if you pay them immediately by credit card.
Very is a division of J D Williams - a large mail order group of companies. If you Google them, you will be able to find their terms and conditions and I'm sure that if you delve into them, somewhere it will say that if you order from them they will automatically set up a credit account, subject to searches. It probably declared this in small print on the form you filled in when you ordered and paid for the first item.
A credit limit of £30 has been set as an interim measure until a human looks at the credit report and decides on a (probably) larger figure.
The fact that you spent less than £20 with them will not show against that £30 limit as it is already covered by your card payment.
No harm will have been done and you do not have to actually use the credit account, although the search will have been recorded on your credit record.

I would like to correct the above regarding the catalogue VERY, they belong to Shop Group Direct the same as Littlewood's GUS, Choice.
Nothing to do with JD Williams!
Very is different in that if offers you interest free over 3 payments, they set you an APR when you apply. Their goods are cheaper than the more traditional catalogues like Choice and Gus, Littlewood's, but you get no commission back (they now call it Rewards)
So swings and roundabouts.

Bosie

Craig_Donny wrote: »

Yeh but the problem is they have set me a limit of like 500 or something anyway and then 30 has come of that.

I have a Very account and usually if they have set you up with a ''credit account'' you sign an online agreement?
You then register with a password and you can then see your credit limit, also they will tell you your apr if you decide to spread the cost.
Even if you pay by debit/credit card you should see your credit limit.
I also have a Choice catalogue with a wopping £4000 credit limit and I did the same procedure when opening an account with them.
You will have signed an online agreement, I printed mine off for my records!

Craig_Donny

Credit Limit£400.00Available to Spend£322.00Balance£39.00

Craig_Donny

thats what it says on my account, even though i paid with my own card