Not sure whether this is the correct board
I have recently received a letter saying that my M & S charge is being withdrawn on 22 July 2024
Has anyone else received this letter
does anyone know what is going on
Keith
Got a credit card? use our Credit Card & Finance Calculators
Thanks to bruncher,niord,gvonge,Shelford,GrahamPlatt, for Donating to support the site
M&S Chargecard
-
- The full Lemon
- Posts: 19137
- Joined: November 4th, 2016, 3:58 pm
- Has thanked: 646 times
- Been thanked: 6793 times
Re: M&S Chargecard
I saw this:
"We will be closing our M&S Chargecard, M&S Budgetcard and M&S Personal Reserve accounts on 22 July. We want to give our customers a great experience and that means focusing our efforts to make sure we create the very best financial products and services. The types of credit our customers are using is evolving, and the number of customers using their account has significantly reduced.
This means that from 22 July, these accounts will be closed and will stop working. If you are an M&S Chargecard or M&S Budgetcard customer you won't be able to use your card for any spend in M&S stores, through marksandspencer.com and M&S app. If you are an M&S Personal Reserve customer you won't be able to withdraw funds after this date."
https://bank.marksandspencer.com/storecard/
But are storecards, chargecards and creditcards all the same thing?
My M&S card is handy for buying FX as it is charged as a purchase and not as a cash advance.
"We will be closing our M&S Chargecard, M&S Budgetcard and M&S Personal Reserve accounts on 22 July. We want to give our customers a great experience and that means focusing our efforts to make sure we create the very best financial products and services. The types of credit our customers are using is evolving, and the number of customers using their account has significantly reduced.
This means that from 22 July, these accounts will be closed and will stop working. If you are an M&S Chargecard or M&S Budgetcard customer you won't be able to use your card for any spend in M&S stores, through marksandspencer.com and M&S app. If you are an M&S Personal Reserve customer you won't be able to withdraw funds after this date."
https://bank.marksandspencer.com/storecard/
But are storecards, chargecards and creditcards all the same thing?
My M&S card is handy for buying FX as it is charged as a purchase and not as a cash advance.
-
- Lemon Half
- Posts: 6116
- Joined: November 5th, 2016, 9:05 am
- Has thanked: 21 times
- Been thanked: 1427 times
Re: M&S Chargecard
Lootman wrote:But are storecards, chargecards and creditcards all the same thing?
.
I don't think so. My M&S card functions as a normal Mastercard and is branded M&S Rewards credit.
At one time I think it was just a storecard and only usable in M&S. Various other stores offered similar. I think they upgraded it to a full credit card many moons ago.
A chargecard like American Express has to be piad off in full every month, although I believe Amex now do credit cards as well. That would do nicely but don't leave home without it.
-
- The full Lemon
- Posts: 19137
- Joined: November 4th, 2016, 3:58 pm
- Has thanked: 646 times
- Been thanked: 6793 times
Re: M&S Chargecard
Alaric wrote:Lootman wrote:But are storecards, chargecards and creditcards all the same thing?
I don't think so. My M&S card functions as a normal Mastercard and is branded M&S Rewards credit.
At one time I think it was just a storecard and only usable in M&S. Various other stores offered similar. I think they upgraded it to a full credit card many moons ago.
A chargecard like American Express has to be piad off in full every month, although I believe Amex now do credit cards as well. That would do nicely but don't leave home without it.
It is confusing though. If the credit cards are continuing then why not say so?
I read somewhere else that M&S are rolling back their bank accounts and are entering a deal with HSBC to offer loyalty and payment products. So is M&S winding down its banking operations?
-
- 2 Lemon pips
- Posts: 121
- Joined: November 16th, 2016, 9:25 pm
- Has thanked: 105 times
- Been thanked: 39 times
Re: M&S Chargecard
Lootman wrote:I read somewhere else that M&S are rolling back their bank accounts and are entering a deal with HSBC to offer loyalty and payment products. So is M&S winding down its banking operations?
In M&S this week, one of the sales people was trying persuade us of the benefits of an M&S HSBC credit card so I'm guessing staff must be on commission.
Regards, Puffster
-
- Lemon Slice
- Posts: 509
- Joined: November 4th, 2016, 3:57 pm
- Has thanked: 539 times
- Been thanked: 228 times
Re: M&S Chargecard
Well looking at the M&S storecard site at https://bank.marksandspencer.com/storecard/ - it mentions applying for an M&S credit card as a replacement, so I think it's safe to assume these are continuing.
Return to “Bank Accounts Savings & ISAs”
Who is online
Users browsing this forum: No registered users and 11 guests