Next Credit Limit?

DarnIt_3

Hello,

Another credit limits thread....sorry

I have had a next account for three months at the moment, I have a limit of £150, I have ordered stuff every month and have been making more than the min payments, in fact the current balance is £0. I to be honest do not inten to use now until October (to revamp my wardrobe after having my last child)

Just wondering what everyones credit limit is and what it started with, how long did it take to get increases?

Also......quick question.....if next give me a higher credit limit and I don't use it....could that hinder me getting further credit? Because they are using up part of my overall credit?

katieb168

Hi DarnIt,

I read your post with interest as I have a Next account with a £3500 credit limit (or around that amount) which is too high for anything I would wish to order from there. I'm actually going to pay off the majority of the £300 balance this month to leave practically nothing on there. :j I have had it for a few years though and I can't remember what the starting limit was but I know it was no where near that much. Don't know if this helps you or not - sorry I haven't been able to answer all your questions!

I too would be interested to know if their limit is affecting my credit score so I'll wait with interest to see what others say.

Is there a way to reduce the limit they have given?

Kate

NekoZombie

I'll start - initail credit limit was £250. Went up to £1000 after about 6 months and was suprised to find when I checked yesterday that it's currently at £4000. They never inform you of any credit increases so I couldn't really say when this happened and if it was a gradual increase or a sudden one. I used to pay the balance off in full, but have recently left £100 on it for the last few months.

Kyresa

I wouldn't rely on increases from Next.

Just do a search for "next" on this forum and you'll see the fun a lot of us have had with their yoyo credit limits.

(one day I was at 900, the next day I was at 0 and that was that - which a lot of other people have experienced too).

(not to mention their APR is horrendous to run a balance on anyway!)

DarnIt_3

katieb168 wrote: »

Hi DarnIt,


Is there a way to reduce the limit they have given?

Kate

I think ....think you can request a decrease. Maybe reduce it down to £500 if it affecting alternative credit. But of course this is entirely up to you.



Wow £4000! Blimey! I don't want anything like that just more than £150 would be nice....barely buys 4 items in next!

Atom

There credit scoring policy is a shambles - i know a guy who has 4 defaults but yet has 1500 limit i got 150 limit that was reduced to 0 in a month and never changed for the next 5 months, closed as there APR is crap anyways...

MrsKrepsly

My credit limit started at £300. Then it shot up to £900 and currently sits at £3500.

It's mad, I'd never order more than £300 from Next so the credit limit is stupidly high, especially considering I'm just a student with no real income! god knows how their credit scoring works.

BeautyandtheBeast_3

mine is £3600 - increases everytime there is a sale! i know when there is sale due!

beanielou

My limit was £3500 for years.
Got them to decrease it to £1000 which is still way too high.

MrsKrepsly

So does having a massive credit limit that you'll never use affect your credit rating? if so I'm going to ask them to reduce mine.

Jib111

MrsKrepsly wrote: »

So does having a massive credit limit that you'll never use affect your credit rating? if so I'm going to ask them to reduce mine.

Yes it can because company's will think you have too much credit already.

If I had a Next card which I don't I wouldn't want my limit above £500.