Credit Account FAQs

How Are Credit Limits Decided?

Credit limits are determined by your credit account handler following a credit screening. During the application process, you will have the option to request a credit limit which will be assessed and either accepted, denied or countered with an alternative amount that our credit control department believe you are financially capable of managing and satisfying outstanding invoices on a monthly basis.

What is My Credit Limit?

When logged in, your credit limit can be located at the top of your Dashboard.

How Can I Request an Increase in My Credit Limit?

Once your account is set up, you can request an increase in your credit limit. This will be reviewed under the same premise as your original account application, while also taking into consideration your payment history with ParkerSteel Ltd under the existing credit limit.

If you would like to request an increase in your credit limit, please contact your credit account handler.

Why Has My Credit Limit Changed?

It is at the discretion of ParkerSteel to change the credit limit of our customers if circumstances change. For example, if an adverse event is registered against a customer's credit profile, their credit limit may be fully or partly revoked.

For more information, please contact your credit account handler.

What Are My Credit Account Terms?

Our standard terms are the end of the month plus 30 days. It is at the discretion of ParkerSteel whether extended terms are allowed for certain accounts, i.e. end of the month plus 60 days. Conversely, we are entitled to reduce accounts back to 30 days or remove the terms entirely with no prior notice to the customer. However, please note this action would only occur if it was required to protect the interests of ParkerSteel. All changes to accounts are communicated to the customer by their account handler.

What Factors Affect My Credit Limit?

Credit limits will vary depending on the financial health of the customer's business, our trade history with the customer on a proforma basis and whether adverse actions have been taken against the customer. If an increase to the credit limit has been requested, we will also take into consideration payment behaviour to date under the existing limit.