M&S Money has launched a 0% credit card offering for new customers, which benefits from 0% interest on all purchases for 10 months and on balance transfers for six months.
The deal then reverts to a typical APR of 15.9%. A balance transfer fee of 2% applies, and cash withdrawals attract an APR of 23.95%. The card also rewards shoppers with M&S points, plus 55 days interest free when buying M&S Travel Money with the card.
Brendan Cook, chief executive of M&S Money, says: "While a number of other providers have recently been raising their interest rates and shortening their 0% offers, we're delighted to be bucking this trend - at a time when consumers will appreciate this the most.
“This new card means that M&S is now one of the few providers in the market to be offering excellent 0% deals on both purchases and balance transfers.”
How does it compare?
|Credit card||Purchases||Balance transfers||Typical APR||Cash APR||Other?|
|M&S Money||0% 10 months||0% 10 months |
|Halifax All in |
|0% 10 months||0% 10 months |
|Capital One |
|0% 01/11/09||0% 01/11/09 |
|16.9%||25.9%||Free ID services|
|Lloyds TSB Advance||0% six months||4.9% 12 months |
| Virgin Money |
|0% three months||0% 15 months |
|0% 12 months||12.9% |
|12.9%||27.9%||Shopping reward |
|Egg Visa Credit||0% 01/01/09||0% 01/01/10 |
|16.9%||24.9%||Cash back rewards|
|Source: Moneywise Compare & Buy and Moneyfacts 02/10/08|