M&S &More Apr going up

Bagpuss741

I've just had a letter to say as of 1st April 2008 the Apr will be going up to 22.9%. Just when I'm starting to get myself sorted.

Bismarck

Thanks for the tip off....are M&S&more now just a store card in disguise? How can they justify that?

Tirian

Bismarck wrote: »

Thanks for the tip off....are M&S&more now just a store card in disguise? How can they justify that?

Nope, they are an MBNA card. They justify it by the fact that it is a commercial enterprise, not a charity! Promotional interest rates are exactly that - promotional.

Bismarck

Mine wasn't MBNA last time I looked at it....the interest is making it look like one though....

swayze

Tirian wrote: »

Nope, they are an MBNA card. They justify it by the fact that it is a commercial enterprise, not a charity! Promotional interest rates are exactly that - promotional.

I hope you are not being serious They are owned by HSBC not MBNA.

Thomas99

swayze wrote: »

I hope you are not being serious They are owned by HSBC not MBNA.

Yep, deffo HSBC (unless they've off loaded it)

swayze

Thomas99 wrote: »

Yep, deffo HSBC (unless they've off loaded it)

Certainly haven't as of today!

AMILLIONDOLLARS

Good thing I paid off my balance with them two months ago, I'll be interesting to see whether I get this letter now that my balance is nil!

AMD

jackieb

Oh, !!!!.

CopperPlate_2

From the M&S website, 'About Us' (M&S Financial Services, provider of the &More card)

In November 2004, Marks & Spencer sold M&S Money to HSBC, one of the world's largest banking and financial services organisations with over 9,500 offices in 76 countries and territories. Marks & Spencer and HSBC have entered into a 50:50 profit sharing partnership.

So no change of ownership from HSBC to MBNA.

ShelfStacker_3

The John Lewis card has the same ownership. I seriously don't want to be in work the day they change that interest rate...