M & S 0% 15 Months Purchases

YorkshireBoy

FloFlo wrote: »

Who are M&S credit cards backed by?

From their website...

Who owns M&S Money?

M&S Money is a trading name of Marks and Spencer Financial Services plc which is a wholly owned subsidiary of HSBC Bank plc.

http://money.marksandspencer.com/save-invest/savings-questions/

gargor

Got 1500 on a decent salary, mentioned need to make min payments for 3 months before any inc.

got 1450 TC....

thenudeone

Got £5500 limit. Took about 5 weeks from application to receipt of card. Will spend it in 3 months!

The_Enforcer

£3k limit here, will make the most of it.

w4l5hy

got mine today. 4K limit. I'm new to the money saving game so i was wondering if someone could shed some light on the statment:-
Up to 55 days’ interest-free credit – when you pay your balance in full and on time each month

i was planning on using some the money towards a new car and paying it off within the 15 months. using the card as an intrest free loan? i am right in thinking that?

OllyM

Finally got the card and PIN last week after applying at the start of April! Very slow, but never mind. £4500 limit.

OffRoadOnly

I applied today for this as my last attempt after being declined for a Halifax platinum, I had a capital one card for around 2 years and never missed a payment but I'm not expecting to be accepted for this.

YorkshireBoy

w4l5hy wrote: »

Up to 55 days’ interest-free credit – when you pay your balance in full and on time each month

You'll therefore be charged interest after 55 days on your purchases.

Fortunately for you, the interest rate is 0% during the first 15 months.

i was planning on using some the money towards a new car and paying it off within the 15 months. using the card as an intrest free loan? i am right in thinking that?

Any dealer will likely charge a 2-3% fee for paying by credit card. Getting Sterling TCs with it will cost only a 1% fee. Conditions apply, so if you're interested come back...don't go diving in!

w4l5hy

thanks yorkshireboy.
i greatful for the advice before i take the plunge. So buying the sterling TC's would be best option? how does the system work, will i just deposit them into my current account?
sorry if i seem a bit dim i'm a little wet behind the ears?

YorkshireBoy

w4l5hy wrote: »

will i just deposit them into my current account?

Not all banks will accept them FOC. Who do you have current accounts with?