For those who own a Marks & Spencer Credit card

sloughflint

pault123 wrote:

Hi,



It mentions Total Charge For Credit which is £524.31 based on an assumed credit limit of £1500.

Did yours say this and you got a higher credit limit? Or did it have a different figure in here which you got?

I'm trying to work out my figures and hope I have been given more than £1500! I have £5000 I want to put on this due to the no fee for 6 months on BT at 3.9% for life. :T


Thanks everyone :beer:

You are looking at the wrong figure. Look at the figure on page 1 of yellow copy under " other financial information". It will say total charge for credit. Then use these numbers to check what your limit will be:
£ 1,500 £ 131.08
£ 2,000 £ 174.77
£ 2,500 £ 218.46
£ 3,000 £ 262.16
£ 3,500 £ 305.85
£ 4,000 £ 349.54
£ 4,500 £ 393.23
£ 5,000 £ 436.93
£ 5,500 £ 480.62
£ 6,000 £ 524.31
£ 6,500 £ 568.00
£ 7,000 £ 611.70
£ 7,500 £ 655.39
£ 8,000 £ 699.08
£ 8,500 £ 742.77
£ 9,000 £ 786.47
£ 9,500 £ 830.16

eg: my figure was £699.08 so I am expecting an £8k limit.

izoomzoom

Phoenix79 wrote:

How long did it take for anyone applying for this card to get a decision. I applied on sunday and was told 48hrs which isn't a problem. I appreciate they wouldn't have looked at it until Monday morning at the earliest. What slightly concerns me is that they never even sent me an email confiirming my application had been made as soon as i submitted it online. Am i worrying unduly?

I applied two Friday's ago, got an email on the Tuesday stating they were processing and I would hear shortly, and then last Sat I received requests for proof of address. Don't expect I'll hear anything until later in the week.

pault123

sloughflint wrote:

You are looking at the wrong figure. Look at the figure on page 1 of yellow copy under " other financial information". It will say total charge for credit. Then use these numbers to check what your limit will be:
£ 1,500 £ 131.08
£ 2,000 £ 174.77
£ 2,500 £ 218.46
£ 3,000 £ 262.16
£ 3,500 £ 305.85
£ 4,000 £ 349.54
£ 4,500 £ 393.23
£ 5,000 £ 436.93
£ 5,500 £ 480.62
£ 6,000 £ 524.31
£ 6,500 £ 568.00
£ 7,000 £ 611.70
£ 7,500 £ 655.39
£ 8,000 £ 699.08
£ 8,500 £ 742.77
£ 9,000 £ 786.47
£ 9,500 £ 830.16

eg: my figure was £699.08 so I am expecting an £8k limit.

Thats spot on as I did get a £6000 limit! but the yellow copy actually said after that "based on an assumed £1500" thats what thrown me initially.

Got the card now and done loads of BT's :beer:

halloweenqueen_2

If you phone up and activate your card, then do a balance transfer they ask you of you would like to swap anything else on to it and then ask you if you would like the limit increased to put any other balances on, so don't assume the limit you get is carved in stone, they offered me another thousand pounds on the limit.

sloughflint

pault123 wrote:

Thats spot on as I did get a £6000 limit! but the yellow copy actually said after that "based on an assumed £1500" thats what thrown me initially.

Got the card now and done loads of BT's :beer:

How long did it take for you to get the card after sending in the agreement? Got some big purchases looming and am keen to use this card rather than other ones.

pault123

Would that involve another credit search on you file though?

Susanjane_2

We applied instore and it took a week from applying to getting the card.

jules68

sorry silly question but when you get your card do they send you cheques as well to balance transfer at the 3.9% .As i have a loan of roughly 5000 at 7.9% and was wandering if it would make sense to transfer or not

jules68

sorry silly question but when you get your card do they send you cheques as well to balance transfer at the 3.9% .As i have a loan of roughly 5000 at 7.9% and was wandering if it would make sense to transfer or not

Susanjane_2

We didn't get sent any cheques, perhaps you have to phone and ask for them?