From 19th Oct 2026 the interest rate on many existing customers' pay in 3 credit accounts will be increasing. The APR will be increasing from the current rate of 29.9% to 34.9% p.a variable.

We’ve put together some details below to answer any questions or concerns you may have. 

What do I need to do if I want to carry on using my account?

If you’re happy to carry on using your account at the new rate, you don’t need to do anything. We’ll apply the new rate automatically on your first statement after 19th Oct 2026.

Can I opt out of the APR increase?

Yes. If you wish to close your account, you have until 19th Oct 2026 to let us know. You can then repay your balance at your current APR rate. We won’t ask you to pay more than the usual minimum monthly payment whilst you are repaying your balance. 

However, if you only pay the minimum, it will take longer and cost more to repay. We suggest you pay as much as you can sensibly afford to repay your balance. We will continue to share account information with the Credit Reference Agencies until your balance is repaid and your account is closed.

If I opt out will I still receive my delayed items?

If you choose to opt out of the APR increase we will not be able to charge any further items to your account. We can either cancel your order or, when your item is ready to be dispatched, we will contact you to take payment via a credit or debit card.

Next are responsible for the delay of my items. If delivered on time, I would have been charged at the lower rate. Will the lower rate be charged on the delayed item? 

No. The new APR applies for all items and balance on the account.

If I opt out of the APR increase, how can I order items in the future?

You can open a cash account, meaning you pay in full for your items at the time of ordering. We accept a range of payment methods, visit www.next.co.uk/terms for more information.

Please note, any future applications for another credit account will be subject to the normal credit checks with no guarantee you will be accepted.

Does the new rate only apply to orders after the date on the letter (statement date)?

No. The new APR applies for all items and balance on the account at the point it takes effect.

What will you do if I am experiencing financial difficulties?

We won’t apply the increase to your account if we are aware of any of the following when the APR increase is due to take effect:

• You are two or more payments in arrears; or
• We have agreed a repayment plan with you; or
• You are in serious discussion with a debt-counselling organisation and they have told us about this.

If your situation improves we may increase your APR at a later date, but we will give you advance notice of this.