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Pay monthly catalogue credit limit increases
New Responsible lending criteria requires Catalogue companies to review a range of data before just applying credit limit increases.
Catalogue companies should now contact you and either inform you that you can have a credit limit increase or offer you a limit increase rather than just applying it to your account.
You should also have the option to OPT OUT of credit limit increases at any time.
If you are not being offered Credit limit increases with your Catalogue company it may well be worth logging into your Account area to see if you have asked to be considered for Credit limit increases.
How often do Catalogue companies increase credit limits?
Each Catalogue company is different. Some Catalogue companies will allow customers to request a credit limit increase.
In our own experience, Our credit limits were reviewed at different times some Catalogue companies as followed.
JD WILLIAMS Catalogues
Catalogues from the JD Williams Group increases limits when you become eligible, they don’t take requests, Most customers will see an increase after making 3 payments on time. Credit limits with JD Williams can increase to £3000+
OTTO Group Catalogues (Look Again, Freemans, Witt International)
Catalogues from the OTTO group review credit limits every 6 months, they offer sensible increases should you become eligible, you can call and ask for them to consider you for an increase.
Express Gifts Catalogues (Studio and Ace)
Catalogues from Express gifts, We haven’t had or been offered a credit limit increase, reading online, others speak of .very small in-frequent increases.
Shop Direct Catalogues (Very and Littlewoods)
Catalogues from Shop Direct (Littlewoods and Very) It looks to us like they will review credit limits every 6 months, increases can be pretty large. You can apply for a limit increase inside your account facility.
Next Pay (Next Directory)
Next review credit limits every few months, limits can be increased or reduced or even suspended depending on information they receive from the Credit reference agencies.
Can I refuse a Catalogue credit limit increase?
You can ask to reduce your Credit limit at any time, You can also ask not to be considered to further Credit limit increases, You are also within your rights to refuse a Credit limit increase being offered, to do this, contact your Catalogue company and ask them.
Catalogues will show on your Credit report as “Mail Order Accounts” Which are know as Revolving credit. This shows other lenders who search your Credit report that you can manage a Credit account with a variable Credit facility.
Having a higher credit limit is good for Credit Utilization which could help improve your credit rating.