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M&S Bank’s new all-round credit card

M&S Bank’s new all-round credit card

Category: Credit cards
Date: 10/01/2017

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

M&S Bank has launched a new all-round credit card, with introductory deals on purchases and balance transfers. This combination of introductory terms has made it competitive enough to earn a high Moneyfacts rating.

The basics…

The M&S Bank Transfer Plus MasterCard has an introductory interest-free term of six months on all purchases, and 32 months of interest-free balance transfers, with a competitive introductory balance transfer fee of 0.99% (min £5).

The finer details…

Balance transfers must be made within 90 days in order to qualify for the offer, with a minimum transfer amount of £100. After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.9% with a 2.90% fee, and standard purchases will be charged at 18.9% APR.

Loyal M&S shoppers will be happy to hear that they can gain 500 reward points on account opening, worth £5, as well as earning one point for every £1 spent in UK M&S stores, catalogues, online, outlets or Simply Food. One point will also be earned on every £5 spent elsewhere. Every 100 points tots up to a £1 reward voucher, to be redeemed in M&S's UK stores or online. Another bonus is that borrowers will be able to enjoy preferential rates and terms on travel money, thereby truly offering something for everyone.

Borrowers must be at least 18 years old, can apply online, in branch, by post and over the phone, and should remember that rates are representative and dependent on credit ratings.

Why we like it…

It is the combination of introductory terms that makes this credit card appealing, especially for loyal M&S customers, and as such it comfortably earns a high rating.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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