NEW! £30 food and wine voucher with M&S credit card

There’s a free £30 M&S gift card to spend on food and wine when you sign up for its new credit card deal, which also comes with interest-free periods on both purchases and existing balances you transfer from another card provider.

Girl with bank card and phone

You’ll only get the free £30 spend when you apply via MoneySuperMarket or MoneySavingExpert though, and the deal isn’t going to be around forever – so here’s everything you need to know.

What’s the deal?

The M&S Credit Card charges no interest on purchases for 19 months and no interest on balance transfers for 15 months, after a 2.9% balance transfer fee.

Apply for the card between January 15 and February 28, and then use it to make a purchase before the end of March, and you’ll get a £30 voucher to spend on food and wine in any Marks and Spencer store. Your voucher will be delivered to you via email, no later than April 30.

“This card offers 19 months’ 0% on purchases which is almost table-topping...”

Cardholders will also earn 1 loyalty point for every £1 they spend in M&S stores and 1 point for every £2 spent elsewhere. Points are converted into money-off vouchers.

And there’s no annual charge on the card either.

Who’s it good for?

The £30 worth of vouchers will be a draw to regular M&S shoppers, as will the loyalty points you will earn for using the card in store.

It works out even better if you were also looking to spread the cost of a purchase without paying interest. This card offers 19 months’ 0% on purchases which is almost table-topping, as I’ll explain later.

Any catches?

A few things you need to be aware of:

  • If you fail to clear the card’s balance by the end of the interest-free periods (19 months on purchases, 15 on balance transfers), you’ll be charged an expensive representative annual percentage rate (APR) of 18.9% (variable).
  • Vouchers must be used in a single transaction and no change will be given.
  • You cannot transfer a balance from another card operated within the HSBC group – so, as well as HSBC this also includes First Direct and John Lewis.

Verdict

The card doesn’t have the longest interest-free period on purchases, nor on balance transfers, but the free £30 gift voucher is a nice sweetener, particularly if you like the food and wine from M&S.

But if you’re looking for either a purchase card or balance transfer card with as long an interest-free period as possible, there are better deals to be had.

For example, on purchases (and you can compare many more cards here), you can get 23 months interest-free with the Santander 123 Credit Card, although it does carry a £24 a fee.

You’ll pay no interest on purchases made with the Halifax Purchase Credit Card for 20 months, and there’s no annual fee to pay.

On balance transfers, you can now get almost three years to pay off your debt without being charged interest. The Barclaycard Platinum Credit Card with Extended Balance Transfer is interest free for 35 months, subject to a 2.49% fee. You can compare other balance transfer deals here.

But if you’re looking for a card and supermarket loyalty points/incentives are important to you, you might be interested in the Tesco Bank Purchase Card with 1000 Clubcard Points.

It charges no interest on purchases for 17 months, nothing on balance transfers for three months (for a 2.9% fee), and rewards you with 1,000 Clubcard points if make a purchase or balance transfer in the first two months.

Bear in mind that in Tesco stores, you earn one point per £1 spend – so it’s the points equivalent of having spent £1,000.

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.

You’ll only get the free £30 spend when you apply via MoneySuperMarket or MoneySavingExpert though, and the deal isn’t going to be around forever – so here’s everything you need to know.

What’s the deal?

The M&S Credit Card charges no interest on purchases for 19 months and no interest on balance transfers for 15 months, after a 2.9% balance transfer fee.

Apply for the card between January 15 and February 28, and then use it to make a purchase before the end of March, and you’ll get a £30 voucher to spend on food and wine in any Marks and Spencer store. Your voucher will be delivered to you via email, no later than April 30.

This card offers 19 months' 0% on purchases which is almost table-topping

And there’s no annual charge on the card either.Cardholders will also earn 1 loyalty point for every £1 they spend in M&S stores and 1 point for every £2 spent elsewhere. Points are converted into money-off vouchers.

Who’s it good for?

The £30 worth of vouchers will be a draw to regular M&S shoppers, as will the loyalty points you will earn for using the card in store.

It works out even better if you were also looking to spread the cost of a purchase without paying interest. This card offers 19 months’ 0% on purchases which is almost table-topping, as I’ll explain later.

Any catches?

A few things you need to be aware of:

  • If you fail to clear the card’s balance by the end of the interest-free periods (19 months on purchases, 15 on balance transfers), you’ll be charged an expensive representative annual percentage rate (APR) of 18.9% (variable).
  • Vouchers must be used in a single transaction and no change will be given.
  • You cannot transfer a balance from another card operated within the HSBC group – so, as well as HSBC this also includes First Direct and John Lewis.

Verdict

The card doesn’t have the longest interest-free period on purchases, nor on balance transfers, but the free £30 gift voucher is a nice sweetener, particularly if you like the food and wine from M&S.

But if you’re looking for either a purchase card or balance transfer card with as long an interest-free period as possible, there are better deals to be had.

For example, on purchases (and you can compare many more cards here), you can get 23 months interest-free with the Santander 123 Credit Card, although it does carry a £24 a fee.

You’ll pay no interest on purchases made with the Halifax Purchase Credit Card for 20 months, and there’s no annual fee to pay.

On balance transfers, you can now get almost three years to pay off your debt without being charged interest. The Barclaycard Platinum Credit Card with Extended Balance Transfer is interest free for 35 months, subject to a 2.49% fee. You can compare other balance transfer deals here.

But if you’re looking for a card and supermarket loyalty points/incentives are important to you, you might be interested in the Tesco Bank Purchase Card with 1000 Clubcard Points.

It charges no interest on purchases for 17 months, nothing on balance transfers for three months (for a 2.9% fee), and rewards you with 1,000 Clubcard points if make a purchase or balance transfer in the first two months.

Bear in mind that in Tesco stores, you earn one point per £1 spend – so it’s the points equivalent of having spent £1,000.

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.

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