Marks And Spencer &more Card

Heavy

Just Thought I Would Drop A Note To Say How Impressed I Am With The &more Card And Its Service Advisors.

I Received My Card This Morning To Find Only A Credit Limit Of £1500 When I Wanted To Transfer A Balance Of £3000 To It.i Obviously Was Disappointed However Thought I'd Just Have To Deal With It.upon Ringing Them To Activate My Card I Said I Wanted To Do A Balance Transfer But Only For The £1500 Now.i Mentioned In Conversation I Wanted To Transfer The Whole Lot Over To It But Didnt Have A High Enough Limit.the Advisor Was Brilliant And Said That Even Though I'd Just Received My Card She Could Try And Apply A £3000 Limit For My Balance Transfer.unfortunately The Limit Could Not Be Approved,however She Said She Would Just Call A Colleague To See If They Could Help In Any Other Way.to My Suprise When She Came Back On The Phone She Had Negotiated A £2500 Credit Limit For Me!!! Needless To Say I Transferred Over The Majority Of My £3000 Debt To It And Came Off The Phone A Very Happy Customer,paying Loads Less Interest At 3.9% For Life Of Balance And Only Paying The Remaining £500 At The Higher Rate With My Other 16.9% Card!!

Megatimbo

Hello Heavy welcome to MSE great start to money saving aswell,i`ve applied to M&S and got my pin through the post this morning

I`ve persuaded the wife to apply today to get her cards onto the 3.9% LOB as it will be a substancial cut in the interest payments she is making.

At the moment BT are fee free but a fee will be introduced shortly so sooner rather than later to do the transfers.

Regards M

Raspberry_Swirl

i'm going to apply for one of these cards. have a balance of £3450 to transfer so hoping they'll play the game and give me a large enough credit limit.

i currently only have to pay 2% of my total balance as my minimum monthly payment so it's going to put my monthly payments up by about £30 as this one is 3%, but it'll be worth it to get this debt gone

Tr@cker

Its a good deal and will be even better when they have on-line management sometime this year.

Megatimbo

Hello all,I spoke to a friendly customer service advisor today and asked about the online setup for this card,the nice lady said that they are going to be starting the service in a few weeks but are testing it out on the support staff to find any probs with it that might crop up.

Raspberry Swirl if you apply for the card and are accepted you get the agreement to sign through the post then you send off the white copy and keep the yellow one.

On the yellow copy there is a figure under financial info called charge for credit this figure you get equates to the credit limit you get

eg £393.23 charge for credit = £4500 cc limit

£ 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

Hope original poster doesnt mind me quoting the figures but sounds like this deal is too good to miss even for folks with 0% which are only 6 to 12 months mostly and incurr a fee.
I would get in now before M&S put a transfer fee onto the BT transaction at the moment its free

Regards M

Heavy

just wandering how you worked out the charge for credit and what it actually means? i do remember seeing that amount but i cant seem to grasp what it means lol.can anyone help? is it something to do with the 3.9% lob?

sloughflint

No it's not to do with the 3.9% lob, it's to do with the rate 15.8%.
In excel, the function CUMIPMT provides the cumulative interest between two periods.

sloughflint

That wasn't exactly helpful was it? Sorry.
Say your card's rate was a and credit limit was b, you would input the following formula to get the charge of credit:
= CUMIPMT((a/12,12,b,1,12,0)
HTH

sloughflint

Does anyone know how to phone CS without either 0870 or 0845 number?

moneyuser

sloughflint wrote:

Does anyone know how to phone CS without either 0870 or 0845 number?

Try this one 0800 0150033

http://www.saynoto0870.com ftw

sloughflint

Cheers.
How did you do that?
I input Marks and Spencer and nothing found.