M&S Bank has launched a new rewards credit card that offers its customers enhanced rewards and a range of shopping vouchers among other benefits.
M&S Club Rewards come in at £10 per month and are exclusively available to credit card holders with the retail giant.
The new membership offers a host of benefits including unlimited next day delivery on Marks & Spencer online purchases, bonus points on Marks & Spencer shopping and spending abroad and a plethora of vouchers.
M&S Club Rewards benefits include free next-day online delivery at the M&S.com shopping site.
This isn’t just a credit card – it’s an M&S credit card ‘packed with rewards,’ said Kirsty Ward, Director of Banking and Services at M&S.
Our M&S Credit Card Program is unique and enjoyed by millions of customers, and M&S Club Rewards does even more for those who love M&S.
“This marks the latest step in our transformation to deliver truly rewarding payment experiences to our customers.”
What does Club Rewards offer?
First of all, membership allows customers to take advantage of unlimited next day delivery on all online Marks & Spencer purchases.
This will be a huge draw for many shoppers with many major retailers in the UK yet to offer this type of service.
Currently, free standard delivery for M&S shoppers takes 3-5 working days and is usually only available for purchases over £50 – the usual cost for next day delivery is £4.99.
“The inclusion of free unlimited next day delivery will undoubtedly prove popular,” said Andrew Hager, Personal Finance Expert at MoneyComms.
“It is a staple of Amazon Prime and over the past 12 months, home delivery has been big business and is likely to remain at pre-Covid levels.”
| monthly spending | Annual bonus | |
|---|---|---|
| £150 | £54 | |
| £200 | £72 | |
| £250 | £90 | |
| £300 | £108 | |
| £350 | £126 | |
| £400 | £144 | |
| £600 | £216 |
In addition to any M&S Bank credit card rewards, Club Rewards will give you 2 bonus points for every £1 spent with M&S.
100 reward points equal £1 in M&S vouchers and the points will be automatically converted into M&S vouchers and sent to customers every quarter.
This means shoppers will get three points for every £1 spent using their credit card – the equivalent of three per cent cashback.
When you spend £300 a month on an M&S credit card, you can expect to accumulate £108 a year in points.
M&S Club Rewards customers can also enjoy 32 hot beverage vouchers for use at M&S Café throughout the year with no limit on the value of each voucher.
Customers will also benefit from three points for every £1 spent abroad, which is equivalent to a foreign exchange fee of 2.99 per cent.
M&S is currently giving customers the chance to boost these rewards even further with an introductory offer with Club Rewards membership – the equivalent of four points per £1 for the first 12 months only.
This means that for the first 12 months, spending £300 a month at M&S will earn you £144 over the course of the first year.
In addition to earning reward points on M&S spending and purchases abroad, M&S Club Rewards customers will also earn 1 point for every £5 spent outside M&S.
Like most store brands reward credit cards the reward for spending elsewhere is reduced by a lot, in the case of M&S 1 point for every £5 spent equates to just £14.40 each year if you spend £600 a month outside Mrs.
Furthermore, the reward card’s generous range of vouchers includes three £15 clothing and home vouchers, along with a £20 clothing and home voucher to use this Christmas, plus a £12 M&S food voucher for the purchase of a birthday meal or treat.
Customers will also be able to enjoy 32 hot beverage vouchers for use at M&S Café throughout the year – with no limit on the value of each voucher.
How do coupons work?
None of the vouchers can be transferred, so you will not be able to exchange them for cash or resell them to someone else.
The Birthday treat voucher Valued at £12, specifically intended for the cardholder to spend on food or drink, it can be used in food courts and M&S cafes – once issued the voucher will only be valid for five weeks.
There is no minimum to spend on £20 Christmas voucher for clothes and home.
However, the voucher can only be used once and no partial refunds are allowed for any unused amount.
| provider / card | expenses | Are rewards issued automatically? | Are rewards issued automatically? | Net interest after spending £250/m | Net interest after spending £300/m | Net maturity after £350/m spending |
Net interest after spending £400/m | Net maturity after £600/m spending |
|
|---|---|---|---|---|---|---|---|---|---|
| M&S Credit Card with Club Rewards Membership | £10/m | Yes – quarterly | 3 points for every £1 M&S annual net benefit (no spend) minus the £120 fee | £135 | £153 | £171 | £189 | £261 | |
| Tesco Club Card Plus | £7.99 evening |
Yes – quarterly | 5 points for every £4 spent at a Tesco store. Plus 10% off 2 stores per month | £91.62 | £129.12 | £166.62 | £204.12 | £354.12 | |
| Sainsbury’s Bank + Nectar Credit Card | not available | number | 3 nectar points for every £1 in Sainsburys / Argos / Tu clothing | £48.75 | £58.50 | £68.25 | £78 | £117 | |
| John Lewis and Waitrose partnership card | not available | Yes – 3 times a year | 5 points for every £4 spent at John Lewis or Waitrose | £37.50 | £45 | £52.50 | £60 | £90 | |
| American Express Platinum Daily Cashback Card | not available | not available | Based on standard cash back offer – 5% first 3 months – £100 max No 0.5% charge on the first £10,000 from 4th August minimum annual spend to qualify |
£48.75 | £58.50 | £68.25 | £78.00 | £117 | |
| American Express Platinum Cash Back | £25 per annum | not available | Based on Standard Cashback Offer – Cashback Offer – 5% first 3 months – max £125 0.75% on first £10,000 from 4th August | £29.38 | £40.25 | £51.13 | £62.00 | £105.50 | |
| View M&S Credit Card Rewards (including introductory offer) with Club Rewards membership | £10/m | Yes – quarterly | 4 points for every £1 M&S annual net benefit (no spend) minus the £120 fee | £165 | £189 | £213 | £237 | 333 pounds sterling |
Where a voucher is used, for any partial payment transactions, the balance must be paid using the existing Marks & Spencer card in the account.
The 32 hot drinks vouchers You have a three month validity period to be aware, similarly for any partial payment transactions the balance must be paid using the M&S card on the account.
There is no cap on vouchers and coffees at M&S Café range from £1.75 to £3.
Customers have the option to add unlimited additional shots of coffee for 50p each, a drink for 50p each, and also switch to a blend of Colombian coffees for an extra 20p.
The £15 home and clothing voucher It will be available throughout the year – once in the spring, summer and fall.
How do you compare?
When compared to other rewards cards, the M&S Club rewards membership rates very well.
Its closest competitor is the £7.99-a-month Tesco Clubcard Plus, which offers five points for every £4 spent plus 10 per cent off your in-store purchases, twice a month.
A Tesco Clubcard Plus customer can expect to receive annual bonus benefits of £129.12 for every £300 spent, according to the Moneycoms report of figures.
The net benefit for an M&S credit card customer with Club Rewards membership is £153 for £300 monthly in-store spend.
The Tesco Clubcard Plus costs £7.99 per month and offers five points for every £4 spent in a Tesco store plus 10 per cent off two stores per month.
But as with all rewards for customers, a lot will depend on how much you spend and whether you take full advantage of all the perks.
“For M&S spends of up to £350 a month with any of our M&S credit cards – or up to £400 in the first 12 months if customers take an M&S credit card rewards offer – it’s the most rewarding offer on the market,” said Hager. .
For a higher monthly spend, the Tesco Clubcard Plus comes out on top due to a 10 percent discount on your two largest food store bills each month.
Tesco’s offer costs £7.99 a month and like M&S offers many ‘same brand’ but different benefits such as double data on mobile phones and 10 per cent off Tesco store clothing and cookware sets.
Rule?
While the £10 monthly fee might make some people look forward to this new offering from M&S, ignoring all the other benefits, this cost can still be offset with vouchers alone.
MoneyComms has calculated that after all coupons have been used, customers should still see a net benefit of around £45 each year.
Then there’s also the bonus points that will be accrued from in-store spending, which can add up to £189 in the first year if you spend an average of £300 each month at Marks & Spencer.
Unlimited free next-day delivery also cannot be sniffed at either.
With no minimum spend on M&S purchases this can save Club Rewards members an extra £4.99 each time they order online compared to other M&S shoppers.
“Its ingredients are different from what other store brands offer,” Hager said.
“This is a unique and financially worthwhile product for Marks & Spencer shoppers, where top spenders are rewarded with increasing bonus vouchers in addition to basic benefits.”
The days of super rewards or cash-back programs that reward you handsomely wherever you shop are a thing of the past.
“But in terms of store-branded rewards offers, this is a value-added package offering and M&S shoppers, it’s worth a closer look.”
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