Credit Rating

Experian_company_representative

Taking out any new credit account can lead to a temporary dip in your credit rating but this is usually short lived. After a few months the information is likely to turn into a positive. If you're not planning to apply for further credit in the next few months this should not cause you a problem.

James

Stabilo_Boss

FinanciallyUnsavvy wrote: »

OK. It's my own fault for being stupid.

*Quietly backs off into a corner*

Next also have a habit of doing this - they did it to me last Christmas. I too should have read the t's and c's but as I was buying something for about £20 and paying with my debit card I didn't think to check the terms and conditions. I believed I was only setting up an account for my address details (for delivery). Like most people I simply checked the box to say I agreed with the terms and conditions without reading them. I only noticed when I checked my credit report and it said I had a £250 credit limit with Next. I was actually quite surprised given my credit history! As it happened when I logged in to my account it said I had a £250 limit with an amount of available spend of £0 so I clearly failed the check. I never did anything about it and it is now marked as settled and the search is long gone. Ironically the fact that it was showing as £250 limit with zero balance would probably have helped my token rating with the CRA's by reducing the % of credit I was using...