New Marks & Spencer credit card is interest-free for ten months

Marks & Spencer

Credit card deal: Marks & Spencer

Marks & Spencer Money releases a new credit card tomorrow, offering ten months’ interest-free on purchases.

The card will go straight into our Best Buys table for introductory purchase offers.

However, Capital One Platinum Mastercard with 0pc until November 2009 still has the best introductory rate.

The M&S card also has an interest-free balance transfer offer for six months. There is a fee of 2pc of the balance transferred with a minimum of £5.

Be careful not to do a balance transfer and then make purchases on the card, as you will not pay off the more expensive borrowing until last.

Shoppers also get points for using their card, plus one loyalty point for every £1 spent at M&S and one point for every £2 spent elsewhere.

Meanwhile, those with an American Express Nectar card will get an extra 500 points for every £500 they spend on their card in a calendar month.

They get two points for every £1 spent with a Nectar card at a partner store, and four points for every £1 if you ‘double-dip’ — use a Nectar loyalty card and the credit card at the same time. You get one point for every £1 spent elsewhere.

Nectar points can be used at Sainsbury’s and exchanged for in-store offers. 

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