Look Again credit limit?

lucyxo

Hi,
I have just purchased something on the catalogue called Look Again. I'm very happy with my purchase and I can afford to pay it back each month but I have a question.

I put the item in my shopping basket and I headed to checkout and I had already decided that I had wanted to take a credit account to pay for this. But what i'm now wondering is.. what will my credit limit be? I have an 'available balance' at £200 but after a month will my available balance be added onto what the total of the goods that i've just payed for be? Or will it just be £200 each month, with the total that i've to pay off being separate (a one off maybe?) ?? (I hope this makes sense)
I'm just curious as to how much my limit will be
Thank you!

Tixy

A credit limit relates to the overall balance that you owe the company, not an amount you can spend each month.

Limits on catalogue and similar accounts are usually static to the first 6months and then reviewed and possibly increased (or decreased) at that time.

So if you are offered a limit of £200 and spend £80, then you would be able to spend up to a further £120. Or if you pay off £40 from the £80 then you would have £160 you could spend on the credit account.

lucyxo

Tixy wrote: »

A credit limit relates to the overall balance that you owe the company, not an amount you can spend each month.

Limits on catalogue and similar accounts are usually static to the first 6months and then reviewed and possibly increased (or decreased) at that time.

So if you are offered a limit of £200 and spend £80, then you would be able to spend up to a further £120. Or if you pay off £40 from the £80 then you would have £160 you could spend on the credit account.

Ahhh, I see, thank you! I just realised what this all means. I'm so tired, forgive me!