Thread: NEXT Directory have decreased my credit limit!

I have had an account with Next for approx 3-4 months, started off with £150 credit limit and this was increased approx 3 weeks ago to £250.

I have ALWAYS paid this on time and more often than not have paid over the minimum monthly payment.

I had a letter the other day saying that due to information held on the credit bureau they were decreasing my credit limit back to £150.

Can they do this even though I have held my account in good standing?

Is there anything I can do about this?

Thanks

I strongly suggest you read the other threads in this forum to understand how frivolous and uncaring this post actually sounds.

D

As are you .... but this is about 'Legal Issues' in the 'debt collection Industry' and for the sake of £100 in dropped credit limit it sounds very trivial to me. I see no debt to be collected.

When you look at the problems that people have on here I still contend that this is a frivolous and somewhat insensitive post.

D

Originally Posted by Delfi101

I strongly suggest you read the other threads in this forum to understand how frivolous and uncaring this post actually sounds.

D

This post is not meant to sound uncaring at all, but I just wondered if anyone else was in the same boat as I am trying to get my life back on track and I feel like its two steps forward three steps back.

Polite request - Please refrain from answering my posts if you cannot help, thanks

Jeez I wished I hadnt bothered asking now!

Getting a slapped hand for putting this in the wrong section - whoops silly me - must take 100 lashings!

For those of you who genuinely answered my post thank you very much.

Thanks for your advice 42man, I am going to send them a letter and just see what they say. The thing is, if they increase it back in a few weeks/months guess its not too bad, but now they have decreased my limit I actually owe them nearly £200 so on my credit file it will look like I have exceeded my allowance!

Hi there,

Did they give you any notice of the change in credit limit? As far as I am aware they have to make you aware of the change with a reasonable time frame to bring the account in-line with the new set credit limit. I was given 30 days notice when the limit was amended on my credit card. Don’t know if it is the same as a store card.

Stewie

PS: I would ignore the other posts. Totally uncalled for. This is a consumer forum covering everything from Legal issues to the price of cat food (Yes there is a thread on it, and very interesting! Especially since I don’t even have a cat)

Originally Posted by 082stewie

Hi there,

Did they give you any notice of the change in credit limit? As far as I am aware they have to make you aware of the change with a reasonable time frame to bring the account in-line with the new set credit limit. I was given 30 days notice when the limit was amended on my credit card. Don’t know if it is the same as a store card.

Stewie

PS: I would ignore the other posts. Totally uncalled for. This is a consumer forum covering everything from Legal issues to the price of cat food (Yes there is a thread on it, and very interesting! Especially since I don’t even have a cat)

Hi Stewie, thanks for your emaill. They didnt give me ANY notice whatsoever, I placed an order the other day which went over my limit and then I received a call asking me to pay via card so I could receive the order, I declined and said I would place the order at a later date.

The next thing I knew is that this letter came the other day stating that due to my credit history my limit was being reduced. I guess I should be lucky that they were not closing the account, but then, I guess that could be their next step!

Thanks for your advice btw, glad to see most people on here are helpful LOL

Thanks for your input, I did send them a letter last week stating the fact that I am now over my limit and that I should have at least received 30 days' notice blah blah blah, so let's see what they come back with!

Over the months or years if you keep the card I think you'll find that Next will play around with credit limits a lot. I took a card out about 5 years ago, basically to help get my credit rating back on track. In the first year, they started me out on a small limit, then gradually increased, then decreased, then increased again, then it settled down. Luckily I'm now older and hopefully wiser when it comes to debt, as my £250.00 limit is now £3600.00 without even asking me if I wanted a limit that high, but I don't feel the need to go spend spend spend as I would have done. I wouldn't worry about this, it is just a sign of the times I think. I was also one of the ones who had my Egg card cancelled, no reason, wasn't in arrears/default just that I didn't make egg much money, was really p***sed off when they emailed me to tell me and tried to make it sound like it was somehow my fault and i was too risky to give credit too, bloody cheek, but i digress

Originally Posted by gaz1441

Over the months or years if you keep the card I think you'll find that Next will play around with credit limits a lot. I took a card out about 5 years ago, basically to help get my credit rating back on track. In the first year, they started me out on a small limit, then gradually increased, then decreased, then increased again, then it settled down. Luckily I'm now older and hopefully wiser when it comes to debt, as my £250.00 limit is now £3600.00 without even asking me if I wanted a limit that high, but I don't feel the need to go spend spend spend as I would have done. I wouldn't worry about this, it is just a sign of the times I think. I was also one of the ones who had my Egg card cancelled, no reason, wasn't in arrears/default just that I didn't make egg much money, was really p***sed off when they emailed me to tell me and tried to make it sound like it was somehow my fault and i was too risky to give credit too, bloody cheek, but i digress

Thanks for the email - they decreased it because of my credit rating. The thing is I have now found out that being over your credit limit is then recorded on your credit file and this reduces your score.

I have written to them to ask whether they propose to do anything about their recordings so not to affect my score, but in two months/payments time I shall be back under the £150 limit anyway!

Originally Posted by gaz1441

Over the months or years if you keep the card I think you'll find that Next will play around with credit limits a lot. I took a card out about 5 years ago, basically to help get my credit rating back on track. In the first year, they started me out on a small limit, then gradually increased, then decreased, then increased again, then it settled down. Luckily I'm now older and hopefully wiser when it comes to debt, as my £250.00 limit is now £3600.00 without even asking me if I wanted a limit that high, but I don't feel the need to go spend spend spend as I would have done. I wouldn't worry about this, it is just a sign of the times I think.

I agree... I've had my Next account for about 5 years now & they do the same with me. Started off with a £500 credit limit which they raise or lower 2 or 3 times each year. They never once notified me when they changed my limits, (anything from £500 - £2,500), but it doesn't really bother me as I didn't use it that often, mostly at their end of season sales - when i'd notice that they'd sneakily whack up my credit limit by quite a bit, probably hoping i'd spend it all in their sale lol.

Hope you get the outcome you're after

I had my letter yesterday after placing an order, the order was cancelled and my credit limit went from £2800.00 to £121.00. I have been with Next plc for 13 years and spent quite alot over the years. I rang them today and calmly asked them not to sent me anymore catalogues as I would not be buying anything from them again. I did try to find their CEO's email to suggest they might be losing customers by doing this, but I could not find the info. Yes it makes you feel mad, but at the end of the day there are other catalogues out there, so Next plc are the only losers.