M&S Credit Card - M&S Bank vs HSBC

jakesuk

M&S website states as follows:

A new M&S Credit Card account cannot be opened if you have held a credit card with M&S Bank within the previous 12 months.

I held an M&S credit card until October 2012 and I'm fairly certain that until that time it was underwritten by HSBC.

Therefore I'm wondering if I'm now eligible to apply for a new card with M&S despite the fact that I've held one within the last 12 months....

Does anyone know?

I could ring customer services but from my experience with CS teams they probably won't know the answer so I'd rather hear it from a total stranger on a forum.

Thanks

meer53

M & S is still underwritten by HSBC. You'll have to apply again after the 12 months period.

Caladan

M&S Bank is almost entirely owned by HSBC, in partnership with Marks and Spencers. The running of M&S Bank is run by employees who work for HSBC, not M&S.

I'm not familiar with M&S Procedures, but with HSBC credit cards, you can request is be re-opened within 6 months of closing it (subject to status), after 6 months it's a brand new application.

Best bet, call M&S Bank, I know you may not want to, but it'll get you the answer quickest.

jakesuk

Thanks for these helpful and informative responses.

This is a great forum.

limecocopop

Can anyone help?

I have a HSBC bank account with all direct debits, salary etc. I am about to enter into an IVA, have no direct debt with HSBC but I do have an M&S credit card. Are they one and the same? I really want to be able to keep my HSBC account going, and my Insolvency Practitioner said HSBC will not be informed of the IVA (no debt to them, so not necessary) but I am concerned if HSBC and M&S are one and the same, they might not only close my account, but might also take my money!

I went into M&S bank and asked this question, and bizarrely, the staff didn't know the answer to my question! They informed me that M&S Bank was a wholly owned subsidiary of HSBC but they did not have access to each others systems.

I am really worried about this, but don't know where to go to get a final answer!!!!! I've also read that if HSBC find out about the IVA (either through my M&S CC or through a random credit check), they may well just close my account anyway, despite it always being in credit and having no credit facilities!

Please help

izools

It is best you start your own thread under the appropriate section of the forum but as a quick answer any time you enter into any form of insolvency (IVA, DRO, Bankruptcy, etc) you should carry out your day to day banking with a banking group not included in the insolvency.

I suggest opening an account with a banking group you don't currently owe any money to.

meer53

If you have an open account with HSBC, whether you have any debt or not, they will be advised of your IVA. It's more than likely that they will close your account. See this :

39.1. For accounts held in the UK only. In the event
that a petition for a bankruptcy or sequestration order
is presented against you then you agree that we may:
• suspend or stop your ability to make payments via
PIB and TBS;
• ask you to return any debit cards and cheque
books you have;
• refuse to act on any instructions given by you or
anyone else to make any payment(s) out of your
account unless you have previously obtained an
appropriate order from the Court; and/or
• set up a separate account(s) in your name to which
any of your future payments in will be credited.
In the Channel Islands and the Isle of Man, local
legislation will apply.
39.2. If we are notified that any other court order or
arrangement has been entered into or application
made in relation to your account which requires
authority to be obtained from a third party before
we act on instructions to make payments from
your account, you agree that we may take any of
the actions set out in the first three bullet points
in clause 39.1 above until we receive appropriate
authority from the relevant third party.

Why are you wanting to keep your M & S credit card ? Will it be included in your IVA ?

matty747

HSBC are very anti-IVA and will close all your facilites once they find out about it, I believe they have a monthly feed from credit reference agencies. Best to open a completely new unconnected account somewhere else.