M&S Credit Card Gambling Transaction Fee

pollyanna24

I used my M&S credit card to buy a Wowcher deal for £2 and then to put £5 into a online Bingo site.

Now I realise I may have been very stupid.

I didn't know about a gambling transaction fee and whilst annoyed, I get that it has to be paid (£3).

However, from doing some research, I may have lost my 27 month 0% on purchases from doing this as it is termed as a cash advance. Is this right? I pay off the minimum each month, but will I now have to pay this card in full in order to avoid any interest?

nomoneytoday

Usually higher interest rate transactions are paid off first.
Besides, the interest on £8 won't be especially high

andyfromotley

ring them to double check would be my advice. Even if you have fallen foul of their t&c's you may be able to get them to waive it.

Its my understanding that in general you only lose the 0% apr when you miss a payment. so hopefully that should be unaffected but like i said ring them.

pollyanna24

nomoneytoday wrote: »

Usually higher interest rate transactions are paid off first.
Besides, the interest on £8 won't be especially high

Thanking you. I wasn't sure if I lost the 0% on the entire lot though, but I shall ring them like someone else has suggested.

[Deleted User]

You haven't lost the 0%. You'll just be charged interest on the cash transaction.

pollyanna24

Deleted_User wrote: »

You haven't lost the 0%. You'll just be charged interest on the cash transaction.

So once I make the minimum payment next month, I will have paid this off?

Or will I continue paying interest on the £8 that I spent until the whole balance is paid off the card?

[Deleted User]

It will be paid off with your next payment. There may be a few pence of trailing interest the following months, but no more after that.