After successfully applying for a credit account, you will be presented with two documents online.
These will also be posted to you within 10 days of your account being opened.
- The first document is the Pre-Contract Credit Information (PCCI). You will have seen this as part of the application process and will explain the key features of the credit account you are applying for.
- The second document is the Credit Agreement. This is a legally binding document between you (the borrower) and us (Next Retail Limited). This will contain information regarding:
- The current rate of interest
- Any fees we may charge
- Repayment terms
- Statements and credit limit information
- All other terms and conditions associated with the credit account
The document is pre-signed by Next and once you've clicked the ‘I Agree-Complete' button, the agreement becomes what is known as 'executed' and is the electronic version of your signature.
A copy of the PCCI and the Credit Agreement are sent to you for your own records but you don't need to sign and return the documents to us.