M&S end life of blalance transfer after just 12 months

fraggle45

Today I noticed in very small writing on the back of my &more credit card statement it said that my introductory offer would end next month. I have a life of blanace offer which was fixed until that balance was cleared. It has only been 12 months and now they are ending it. Surely this is not legal. I have never missed a payment or broken any of their rules so surely I have a right to the life of balance - anybody got any ideas?

YorkshireBoy

The "end of introductory period" message relates to your 0% on purchases offer. Your LOB "introductory offer" ended 6 months ago, since it was only available for 6 months from account opening.

The LOB interest rate continues to run for, er, the life of the balance (or until you contravene the T&C's and give them reason to withdraw it).

What was that about "legal"?

fraggle45

Thanks but I think you misunderstood. When I took out the card I immediately transferred a balance onto it (within the 6 month limit). M&S are now saying that my life of balance interest rate is ending and I will be charged the full interest rate on my balance. I have never made any purchases on this card. I have not broken any of their terms etc so surely this is not legal?

YorkshireBoy

Your question has been asked before on this board. That's where I got my answer from. Well, that and the fact that until last December I had the very same card, and received the very same message on my statement. So, I haven't misunderstood.

If you still want to rant, fair enough...but why not ring M&S (0800 997996) and ask them if the message relates to your LOB rate or your purchases rate?

Be sure to come back and let us know what their answer is.