Word of warning re M&S 2 year 0% "deal"

andyw5585

Might be wise to double check on this one. Applied using the MSE link and was accepted, but couldn't see confirmation of the two years anywhere in my new account online or in the paperwork sent with the card. So contacted them via online chat to find I only had 15 months at 0%.

I don't mind they rejected me for 2 years but not making that clear is v dodgy. What if I had based my repayment plans around cash I would have to hand in two years but not in 15 months?

Made this point in the chat but didn't get a straight answer, which made me even less impressed.

DullGreyGuy

Dont their statements show the buckets your debts are in, their respective interest rate and end date for any that are promotional?

Most banks I use these days do

CliveOfIndia

andyw5585 said:

couldn't see confirmation of the two years anywhere in my new account online or in the paperwork sent with the card.

Are you sure?  Did you also check any email documents they may have sent?  It would be most unusual for your specific T&Cs not to be detailed somewhere - albeit it may be buried in the small print somewhere.

Nasqueron

Longest 0% & it's a definite (non 'up to') card. 

All accepted get the full 24mths at 0%, a clear winner if you can get it. You also get one M&S point per £1 spent at M&S and per £5 spent elsewhere. Points can be converted to M&S vouchers.

Appears you were not accepted so got a lesser offer. That said not sure where the 15 months come from, the M&S site offers:

Why is my rate and promotional period 'up to'?

The rate and promotional period we offer will depend on our assessment of your circumstances.

We may offer you:

• 0% for 30 months on balance transfers with 24.9% A P RAPR
• 0% for 27 months on balance transfers with 27.9% A P RAPR
• 0% for 20 months on balance transfers with 29.9% A P RAPR

The balance transfer fee will remain at 3.49%, min £5.

The_Groat_Counter

DullGreyGuy said:

Dont their statements show the buckets your debts are in, their respective interest rate and end date for any that are promotional?

Most banks I use these days do

Alas M&S Bank CC statements do not show this information, and there's no mention of the end date of a promotional rate.

For what it's worth, the same applies for First Direct CC statements (unless that's changed recently). I dare say such information might also be absent on HSBC CC statements (M&S Bank is a subsidiary of HSBC Group, and First Direct is an HSBC brand - so they'll both be using at least some of the same HSBC backend systems).

So with them the onus is on the customer to keep track of things.

Nasqueron

The_Groat_Counter said:

DullGreyGuy said:

Dont their statements show the buckets your debts are in, their respective interest rate and end date for any that are promotional?

Most banks I use these days do

Alas M&S Bank CC statements do not show this information, and there's no mention of the end date of a promotional rate.

For what it's worth, the same applies for First Direct CC statements (unless that's changed recently). I dare say such information might also be absent on HSBC CC statements (M&S Bank is a subsidiary of HSBC Group, and First Direct is an HSBC brand - so they'll both be using at least some of the same HSBC backend systems).

So with them the onus is on the customer to keep track of things.

It's in the app just to be helpful - go to credit card, then ... View More -> Balance and Money Transfers -> Balance Transfers then it shows you the balance, period and end date, at least on HSBC and I remember that being the case for M&S too. Probably on the website too