New to this - M&S Travel Money

ylesia

Hi

Please bear with me as I'm new to this - been a rate tart for years but now it seems you need to be a lot more savvy to make some money!

I've just got a new M&S card and I'm just trying to work out if this is going to work?:

- buy sterling travellers cheque using card and pay 1% commission. This appears to be classed as a purchase so 10 months 0%
- take them back to M&S for free buyback
- then I have my money to put in savings for 10 months

Has anyone done this? I'm not convinced as it looks too good to be true, I'm thinking they don't buy back sterling travellers cheques commission free or that I have to have the money credited back to the same card?

Any advice appreciated - I was going to phone M&S but I'm guessing there are not going to be too impressed at my plan.

Cheers

YorkshireBoy

Just pay them straight into your current account...but check first they'll accept them. LTSB and Nationwide do, or did the twice I've (ab)used this offer.

EDIT: See here...

http://www.stoozing.com/forum/YaBB.pl?num=1159043738/all

It's long, but very informative.

ylesia

Thanks That's exactly what I was looking for but wasn't having any luck finding a discussion on it!

G_M

YorkshireBoy wrote: »

Just pay them straight into your current account...but check first they'll accept them. LTSB and Nationwide do, or did the twice I've (ab)used this offer.

EDIT: See here...

http://www.stoozing.com/forum/YaBB.pl?num=1159043738/all

It's long, but very informative.

Just checked that (long!) thread but a) latest post seems to be Feb 09 and b) the M&S website no longer seems to show 12 months 0% purchases foor &More card.

Anyone done this recently?

edit: just seen it is on the M&S Mastercard. Don't know if the &More card still works....

YorkshireBoy

G_M wrote: »

snip

I'm coming to the end of my 2nd TC stooz on the &more card. Once settled and closed I'll be waiting 30 days and going for my 3rd deal because the T&C's are the same now as they were for my 1st and current card.