When I wanted to purchase some shoes for work a few years back, I could only order online, so I went to the Next* website, ordered said items and paid straight away; however, in the process, Next created an account for me. Over a period of time, I have purchased, and immediately paid for a few items via the account.
Last month, I received notification that my “credit limit” had been increased to £1,500. It was good timing as I needed to purchase a washer/dryer and Next had the one I wanted and the limit would allow me to delay payment by a month or two. Then, I went to purchase said item. After initially being told the reason I could only pay by a credit card because my Next account had a different billing address to the delivery address, then changing my address and still experiencing the same issue, I was eventually put through to someone in Next’s accounts department. This person informed me that despite having a £1,500 credit limit, my “available balance” was zero. WTF? What’s the point of having a credit limit but no availability to said credit? In other words, I don’t have a credit limit; I don’t fucking have credit with them.
I was told they did monthly credit checks and this was the reason for the sudden reduction of “available credit”, as opposed to my increased credit limit.
A quick google search revealed that Next do this regularly to their account holders. Quite a few people had also experienced this withdrawal of “available credit” when attempting to purchase white goods via their Next account, despite the FAQ saying it was possible so to do. Any company doing monthly credit checks is going to murder your credit score, and you will spend years trying to build it back up.
I have sent a letter to Next this evening stating I want my account closed as I no longer wish to deal with them. As an added bonus, I won’t be shopping in their actual stores, either, and shall be passing on my distate for the company to all and sundry.
You have been warned: Purchase online with Next and they will open an account (read the Terms and Conditions very carefully), do credit checks which could damage your credit rating, and will generally mess you around.
* I won’t be posting any links to the company; I don’t want anyone to be put at risk by their behaviour.