After successfully applying for a credit account, you will be presented with two documents online.
- Pre-Contract Credit Information
- Credit Agreement
These will also be posted to you within 10 days of your account being opened.
The first document, the Pre-Contract Credit Information (PCCI), you will have seen as part of the application process and it 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.
We’ve put together some handy information below on understanding your Pre-Contract Credit Information.