Your Credit Limit is the maximum amount you can borrow in total using your Next credit account. You can view your current Credit Limit at any time by logging into My Account.
From time to time we may wish to offer you an increase to your Credit Limit. There are a number of options available to help you stay in control.
How we offer Credit Limit increases to you
Unless you tell us otherwise, we will make offers of Credit Limit increases from time to time.
We’ll give you at least one month’s advance notice of any Credit Limit increase. We’ll also let you know as soon as possible if your Credit Limit is decreased.
We’ll notify you of Credit Limit increase offers and decreases by email or post, depending on your communication preferences. You may also see offers of Credit Limit increases in My Account or when shopping online.
If you no longer wish to receive such offers, you can change your preferences in My Account at Credit Limit Preferences. If you change your mind, you can simply go back and change your preferences at any time.
Credit Limit Preferences also lets you increase or decrease your current Credit Limit within a range of available limits*.
How we apply Credit Limit increases to your account
You have two options when it comes to accepting offers of Credit Limit increases;
1. ‘Automatically apply increases unless I decline them’
This means if we make an offer to increase your Credit Limit, it will automatically be applied to your credit account at the next statement date, unless you tell us that you don’t want it.
Whenever we make an offer to increase your Credit Limit, we’ll give you a simple option to decline it.
2. ‘Only apply increases if I accept them’;
This means if we make an offer to increase your Credit Limit, it will only be applied to your credit account if you tell us you wish to accept it.
Whenever we make an offer to increase your Credit Limit, we’ll give you a simple option to accept it. The increase will be applied to your account from the date you accept it.
With either option, we may contact you again with future offers unless you change your offer preferences. You’ll also be given the option to accept a lower Credit Limit increase than the one offered*.
If you’re a new customer, you’ll be asked to choose one of these two preferences when you apply online for a new Next credit account.
If you’re an existing customer, you can change your preferences at any time at Credit Limit Preferences.
A higher Credit Limit may offer greater flexibility and convenience to meet your financial needs. However, it may also increase the risk of taking on too much debt, which may be costly, or take a long time to pay off. You should carefully consider whether you need a higher limit.
*subject to lending criteria