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M&S &more - New T&C's effective 6 March 2007
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YorkshireBoy
Posts: 31,541 Forumite
in Credit cards
I've received a notice of variation to the T&C's for my M&S card, and it's a mixture of good and bad news.
Summary of key points...
You can now BT from another HSBC group card.
"We will currently permit you to transfer an amount owed to another member of the HSBC Group to your account. Accordingly, the words "(who must not be a member of the HSBC Group)" have been deleted from the definition of Balance Transfer."
BT fees are on the way.
"Changes are also being made making it clear that Balance Transfer fees are not currently charged but that a fee of 2% of the amount transferred (minimum £5) may be applied in future where we tell you before you effect a Transfer."
Restrictions on BT's.
"We may restrict the amount of any balance you may transfer or stipulate other conditions for the Balance Transfer. We will tell you when we do this."
Purchase protection insurance.
A free insurance, covering eligible purchases against fire, theft, and accidental damage in the first 60 days. Exclusions and excesses apply.
Interest rates are to be increased.
Up from 16.9% to 17.9% APR (typical).
Summary of key points...
You can now BT from another HSBC group card.
"We will currently permit you to transfer an amount owed to another member of the HSBC Group to your account. Accordingly, the words "(who must not be a member of the HSBC Group)" have been deleted from the definition of Balance Transfer."
BT fees are on the way.
"Changes are also being made making it clear that Balance Transfer fees are not currently charged but that a fee of 2% of the amount transferred (minimum £5) may be applied in future where we tell you before you effect a Transfer."
Restrictions on BT's.
"We may restrict the amount of any balance you may transfer or stipulate other conditions for the Balance Transfer. We will tell you when we do this."
Purchase protection insurance.
A free insurance, covering eligible purchases against fire, theft, and accidental damage in the first 60 days. Exclusions and excesses apply.
Interest rates are to be increased.
Up from 16.9% to 17.9% APR (typical).
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Comments
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I've had the paperwork for my M&S card come through the post today. Will have to check what they say.....0
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Thanks for that YB. I have an M&S card, but I'm waiting to BT to it until an existing 0% period runs out on another card I have (mid March). Do I take it I should BT to my M&S card sooner rather than later, or am I already too late to avoid the fee?
Edit: Oops - missed the clue in the title! Looks like I've got a month to go yet, but thanks for the advance notice.£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 0470 -
Think M&S have cottoned on to all the Tarts using their card
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just got a credit agreement to sign for m&s card, and within terms it states 2% fee may be applicable.0
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Pretty sure it said 'may be applicable' many months ago when I got mines, but there was never a fee charged. Seem to remember there were no fees in the first 6 months?0
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no fees for life on my T+C but alas they have now changed the rules
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Has anybody heard when the &More online site is due to appear?£2 coin savers club: £1.49
Official DFW Nerd Club: Member no. 0470
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