Next - Changes to interest charges for account holders

I've just received an email from Next about changes to their credit agreement. Looks like they are going to start charging interest on ordered goods from the day after you collect them from store (or they think you'll collect them) or the day after they are delivered.

"We’ve added wording to make clear that, where you have placed an order for delivery to a Next store, we’ll begin to charge interest on that item either from the day after it’s collected from the store or from the day after we expect the order to be available for collection, whichever is sooner."

You haven't even got time to try them on and take them back before you're charged interest! I'm terrible for not usually reading these sorts of emails but did this time.

Edit - I just phoned Next and the only way to be able to place online orders and avoid the interest charges it to make sure you have a cash-only account so you can pay for items at time of placing the order.

13 Comments

SuperEd

Hey, can you possibly screen cap the email and post in here please? Hiding any personal info of course

goonertillidie

Hey, can you possibly screen cap the email and post in here please? … Hey, can you possibly screen cap the email and post in here please? Hiding any personal info of course



Here you go Gooner.

This is a long screen shot, so seeing if it works first, if not ill fix it but just bear with me

https://scontent-lhr3-1.xx.fbcdn.net/t31.0-8/14311310_10209686878341266_5663874677792993533_o.jpg

Edited by: "haritori" 12th Sep 2016

Original Poster

When I phoned next the CS lady seemed to agree with my thinking that you'd be charged extra for your items each month even if you paid in full. But I'm now wondering if it is just a change to the date they will start charging interest from if interest is applied due to you using the credit facility. But I'm not sure. It's a bit confusing so either way I'm happier paying for my items at time of placing the order with a cash-only account. I never use the credit facility anyway

If you have a credit account and pay it off in full it says ^^^^ you don't pay any interest charges at all.

deb8z

If you have a credit account and pay it off in full it says ^^^^ you … If you have a credit account and pay it off in full it says ^^^^ you don't pay any interest charges at all.



This.

You will only pay interest from the day you collect or it gets delivered if you don't settle your monthly statement on the day it says payment is due.
In other words, pay in full when you get a statement and you won't be charged any interest

c.grex

This. You will only pay interest from the day you collect or it gets … This. You will only pay interest from the day you collect or it gets delivered if you don't settle your monthly statement on the day it says payment is due.In other words, pay in full when you get a statement and you won't be charged any interest



Yep and existing terms say the same thing as well, only wording has been changed.

If u order and its delivered to store say 3 weeks before your statement is due to be paid u will get charged interest from that day if delivery so 3 weeks of interest , that's the way I read it don't say free interest if paid in full by statement due date

Distance Selling Regulations. Just collect from store and use their changing room, return what's not wanted.



Shocking.

Locky1982

If u order and its delivered to store say 3 weeks before your statement … If u order and its delivered to store say 3 weeks before your statement is due to be paid u will get charged interest from that day if delivery so 3 weeks of interest , that's the way I read it don't say free interest if paid in full by statement due date



It won't let me copy & paste it from above but read the very last line of point 4.
Edited by: "Domthedonkey" 13th Sep 2016

Received the email about 30 mins ago......Point 4 - Interest charges below:

"Change 4 – Interest Charges

We’ve added wording to make clear that, where you have placed an order for delivery to a Next store, we’ll begin to charge interest on that item either from the day after it’s collected from the store or from the day after we expect the order to be available for collection, whichever is sooner.

We charge interest on standard and evening delivery charges in the same way as we charge interest on orders delivered to your home address or to store. In other words, these delivery charges are treated as part of your order for the purposes of interest charging.

Subscription delivery charges are not treated as part of any particular order. We charge interest from the date of the statement to which the subscription delivery charge is added.

For all other delivery charges, and for collection, installation and removal charges, we charge interest from the day after your goods were sent to you or collected from you, or 14 days after the date of your order, whichever is sooner.

For brown and white goods, such as washing machines and ovens, we charge interest from the day after we deliver the goods or 14 days after the date of your order, whichever is sooner.

If you’d like further information about how our interest charges are calculated, please visit the FAQ section at next.co.uk. We don’t charge interest in any month where the account balance is repaid in full."

Wading in myself here.

I read it that you are only impacted if you do not pay the statement in full by the due date. If you don't then you will and have always incurred interest.

What they are making clear is that the interest will be charged from when the goods are collected or when you could have collected them; so leaving them in the store for weeks would still cost you.

Simple solution.....Don't shop there


Kermagod

Received the email about 30 mins ago......Point 4 - Interest charges … Received the email about 30 mins ago......Point 4 - Interest charges below:"Change 4 – Interest ChargesWe’ve added wording to make clear that, where you have placed an order for delivery to a Next store, we’ll begin to charge interest on that item either from the day after it’s collected from the store or from the day after we expect the order to be available for collection, whichever is sooner.We charge interest on standard and evening delivery charges in the same way as we charge interest on orders delivered to your home address or to store. In other words, these delivery charges are treated as part of your order for the purposes of interest charging.Subscription delivery charges are not treated as part of any particular order. We charge interest from the date of the statement to which the subscription delivery charge is added.For all other delivery charges, and for collection, installation and removal charges, we charge interest from the day after your goods were sent to you or collected from you, or 14 days after the date of your order, whichever is sooner.For brown and white goods, such as washing machines and ovens, we charge interest from the day after we deliver the goods or 14 days after the date of your order, whichever is sooner.If you’d like further information about how our interest charges are calculated, please visit the FAQ section at next.co.uk. We don’t charge interest in any month where the account balance is repaid in full."



This is the important bit:

We don’t charge interest in any month where the account balance is repaid … We don’t charge interest in any month where the account balance is repaid in full.



That negates everything else

As others have said, if you don't pay in full the ts&cs clarify when interest accrues from, but for credit customers who pay in full there is no practical change from this clause. As with all other credit agreements, make sure you really do pay in full, underpaying by a small amount often still means you'll be charged interest on the whole amount.
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