WARNING: NextPay T&Cs

pridehappy

This is an important warning to anybody operating a NextPay account to make online purchases and for anyone who regularly makes a purchase with them each month.

It isn't made necessarily clear at any point other than deep in the terms & conditions, but if you purchase something for that month, and then return it within the same month, it will not count towards the minimum payment. That means, even if you only purchase one item and return it, they still expect you apparently to make the £5 payment and place the account into credit. 

I was a victim of this a few months ago and they have placed a missed payment marker (even though I paid the £5 a day later and explained) on my credit files, which has resulted in my credit rating dropping. It hasn't had too much impact on me but anyone with a sensitive credit rating could be hugely affected.

I've also been made aware that Next does not have an official complaints procedure for their finance products, great!

MorningcoffeeIV

It's not uncommon for refunds not to count as a payment.

Don't worry about your credit rating dropping as no one will ever know.  And a single missed payment isn't a problem on its own.

MrFrugalFever

I'm intrigued to know what a 'sensitive credit rating' is!

penners324

Next will have a complaints procedure, they have to by law