Apply for the enhanced M&S credit card by the end of November and not only will you benefit from improved 0% periods on purchases AND balance transfers, you’ll also land yourself a £30 voucher to spend in M&S in the New Year.
What’s the deal?
If you successfully apply for (and use) a M&S Credit Card through MoneySuperMarket between now and November 30, you’ll receive a £30 M&S voucher that can be redeemed in-store or online (subject to some exclusions, check terms and conditions for details).
To take advantage of the £30 M&S general merchandise offer,use your card in any transaction before the end of the year and you’ll be emailed a voucher by January 24, 2015, which you can either use online or print off and use in store.
You’ll then have until February 28, 2015 to redeem the voucher.
This comes hot on the heels of the recent MoneySuperMarket exclusive £30 M&S wine voucher offer. But this is better because you’re not restricted to the drinks aisle.
And M&S has also improved the terms of its credit card, upping the 0% period on purchases from 15 to 19 months, and increasing the balance transfer period from 12 to 15 months.
All balance transfers still incur a 2.9% transfer fee, subject to a minimum of £5.
The card also offers reward points – to the tune of one point for every £1 spent in M&S and one point for every £2 spent elsewhere – and also offers a bonus points voucher for 500 M&S points when you spend in its food, clothing or home departments.
Who’s it good for?
This card offers a great way to spread the cost of Christmas – giving you over a year-and-a-half to pay the balance before you start incurring interest.
And, of course, if you clear the balance in that time, you won’t pay any interest at all.
It’s a particularly good option if you’re a regular shopper at M&S and can make the most of the rewards on offer.
The card could also come in handy if you’re going on holiday any time soon - you can buy M&S travel money with no cash advance or foreign exchange fees. Delivery is free for orders of £500 or more, or £5 on orders under £500.
As well as increasing the length of its interest-free periods, M&S has also bumped up the representative APR from 16.9% (variable) to 18.9% (variable) – so it’s important you clear any debt within the 0% timeframes.
To apply for the card you have to be at least 18, a UK resident and you must not have held an M&S card within the previous 12 months.
And this offer is only on until the end of this month, so you’ll have to take advantage before you crack open the advent calendar.
What’s the verdict?
The improved 0% terms on purchases mean this is a great option for anyone looking to spread the cost of Christmas – its duration is second only to Halifax’s 20-month interest-free offer - and the £30 voucher offer really sweetens the deal.
This card offers a great way to spread the cost of Christmas
Although the 0% period on balance transfers has also improved, it’s still way behind the market leading deals and there are cards that also offer a lower balance transfer fee.
So if it’s mainly a balance transfer card you’re after, it’s worth comparing what’s on offer here.
And if you’re not a regular M&S shopper, you may be better off looking at alternative reward or cashback cards – the American Express Platinum Everyday Cashback credit card, for instance, pays cashback of up to 1.25% on all purchases.
You can read more about that card in Melanie Wright’s Focus on article, and compare a full range of cashback credit cards here.
If you’re looking to take out a new credit card to spread the cost of Christmas, it’s important you get your application in now – Christmas is just six weeks away so don’t leave everything until the last minute.
Please note: any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.