M&S 0% extension

ericpode

It has been said that there is a "loophole" in M&S introductory period which allows you to effectively extend your 0% period by a further 6 months.

Apparently this is because when you make a balance transfer within the introductory period the BT will be charged at 0% from the date of the transfer.

So if you BT just before then end of your introductory period, you can get 6 months at 0% for that BT, effectively extending the 0% period by 6 months.

It seems that's what some have been told by M&S over the phone.

But has anyone actually experienced this - i.e. have you actually received one or more statements after your introductory period which show that you REALLY are still being charged 0% ?

I am coming near to the end of my intro period, and I'd like to try this but I'd prefer to have some proof that M&S really do this.

tobago22

How many BT's do they allow at 0%?

Katykat

Is it really saving anything though. I usually BT when I take out the new 0% card as that usually means that I would be paying interest on my old credit card balance if I didn't transfer it. So wheres the logic in taking out a 0% deal if you dont transfer?

YorkshireBoy

Katykat wrote:

So wheres the logic in taking out a 0% deal if you dont transfer?

Rate tarts would transfer any remaining M&S balance to another card (for a short period), then bring it back again to M&S for a further 6 months.

Stoozers would repay the M&S balance (from their stooz pot), then BT from a 'mule' card to gain another 6 months at 0% with M&S.

mountainofdebt

and when I phoned yesterday to see if they would extend it they refused.

Did offer a BT rate of 7.9% on new BTs though with no fees for 6 months.

simonleblank

I was offered extra 6m @ 0%, Great m&s :j

Rikki

I wasn't allowed a futher six months or a lower rate.

mountainofdebt

simonleblank wrote:

I was offered extra 6m @ 0%, Great m&s :j

Any useful hints would be apreciated.

YorkshireBoy

mountainofdebt wrote:

Any useful hints would be apreciated.

See the rate tart example in post #4.

jdavtz

I've added extra BTs to my card twice since initially taking it out and had 6 months from date of transfer on each balance (i.e. 0% runs out on 3 different dates for 3 different amount of my debt, but the earliest-expiring one is the one that my direct debit payment goes towards (automatically)).