Travel Money Easy (Marks & Spencer Financial Services)

Member Name: deehuff

Product:	Marks & Spencer Financial Services
Date:	28/05/09 (150 review reads)
Rating:

Advantages: M&S Points, Great for Travel Money

Disadvantages: Interest charges if you don't pay it all off

My M&S Credit Card is one of two cards that I use when I shop. For every pound spent, I receive one M&S point, and these points all add up and are transferred onto shopping vouchers which are sent to me at intervals.

But where this credit card comes into its own is when I travel. M&S don't charge a commission on foreign currency and in my experience their exchange rates are very competitive, and sometimes the best I can find. They will also buy back any foreign currency you don't use without charging any commission.

But that's not all!

If you buy foreign currency using your M&S credit card, you don't have to pay any interest on it. It's treated in the same way as any other purchase you make in the store, (even earning you M&S points) and you have an interest free period until the date on which the next bill is due. This means that you can take out more than enough foreign currency for your trip, pay for it with your M&S credit card, and then return whatever you don't spend, sometimes even before the bill has been printed and sent to you.

It really is such a good deal.

Summary: Win Win situation