MSE News: M&S to slash credit card reward points

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M&S Bank is to more than halve the number of credit card points users can collect when spending outside of the retailer...
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'M&S to slash credit card reward points'
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  • Kim_13
    Kim_13 Posts: 2,489 Forumite
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    Aren't they supposed to give more notice than 14 days?
  • jimbo_the_jetset
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    Shame, just started using my M&S credit card again after switching current account to them as well. Was looking forward to a free M&S meals.

    For me, Halifax £5 reward for spending over £300 a month is the best deal (unless undertaking a large purchase)
  • 20aday
    20aday Posts: 2,610 Forumite
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    Shame, just started using my M&S credit card again after switching current account to them as well. Was looking forward to a free M&S meals.

    For me, Halifax £5 reward for spending over £300 a month is the best deal (unless undertaking a large purchase)

    It is a shame but more credit companies will invariably follow suit now the cap on Interchange Fees has been implemented.

    Sainsbury's Bank offer 1 Nectar point per £5 out of store spending so I reckon they'll be next to make changes (not unless last April's points cut was partly due to the EU ruling coming into effect).
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • planteria
    planteria Posts: 5,321 Forumite
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    i thought the M&S Card deal was poor already, so now it's not worth considering.
    Their Regular Saver is the only draw to M&S Bank for me.
  • Nick_C
    Nick_C Posts: 7,460 Forumite
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    MSE_Luke wrote:
    M&S Bank is to more than halve the number of credit card points users can collect when spending outside of the retailer

    Yep. I posted this a week ago ...

    http://forums.moneysavingexpert.com/showthread.php?t=5409916

    Incidentally, the article says "Capital One cardholders have had cashback scrapped from 1 June 2015." Some have. Some have had their cashback reduced to 0.5%. Some have had it reduced to 0.25%.

    Presumably the best cards for cashback now are Asda or Nationwide.
  • Nick_C
    Nick_C Posts: 7,460 Forumite
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    Incidentally, if you shop in M&S, it's a good idea to keep the card. Although the 1% cashback is matched by Santander, I find if you stop using the M&S card for a few months they will send you some really good vouchers. The ones I have currently give 10 * usual level of points, so effectively 10% cash back.
  • planteria
    planteria Posts: 5,321 Forumite
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    10% is good going :)
    but though our local M&S has a good foodstore, you could slice 10% off the receipt & it still wouldn't be 'value'.
  • Nick_C
    Nick_C Posts: 7,460 Forumite
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    planteria wrote: »
    10% is good going :)
    but though our local M&S has a good foodstore, you could slice 10% off the receipt & it still wouldn't be 'value'.

    It is when they do "dine in for £10".

    They also sometimes do 3 for £10 on meat.

    I only go to M&S for the offers. Agree they are two expensive to use for everyday shopping.
  • No_6
    No_6 Posts: 835 Forumite
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    It's even better value, when the OH gets an extra 20% off.
    Retired ex M&S employee :)
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