M&S launched new credit card offer

High Street retails giant, Marks & Spencer, has recently announced the launch of a new credit card offer, which could enable consumers to enjoy interest free credit on purchases and balance transfers, as well as to earn points to redeem against goods whenever they use the card to make purchases.

The card offers consumers six months of interest free credit on purchases from the date of opening the account. Customers can also enjoy six months of interest free credit on balance transfers providing that the transfer is made within six months of the account being opened. There is a 2% transfer fee with a minimum charge of £5 for balance transfers.

The standard variable charge on the credit card will be 18.9%. Customers that use their cards to make purchases will be able to accrue rewards points as well, which can then be changed into vouchers to be spent at Marks & Spencer stores.

The offer is available right away, and it is thought that many consumers are looking to switch their expensive credit card balances onto a 0% balance transfer card, so this may prove of interest to many consumers. Many may also be interested in the 0% purchase aspect of the card, particularly given that some consumers will not be looking to book up their summer holidays.