Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

M&S cuts credit card rewards

Marks & Spencer has cut its credit card reward points by 60% following new EU regulation.

Marks & Spencer

Marks & Spencer

Marks & Spencer

The retailer told customers this week that from February 29 M&S cardholders will only receive one point for every £5 spent outside M&S instead of the current one point for every £2 spent.

The points for spending at M&S remains unchanged at one point for every £1 spent.

The EU regulation that was introduced in December puts a cap of 0.3% on the charge Visa and Mastercard providers are able to charge shops.

An M&S spokesman told The Telegraph: “’Following the introduction of new legislation in December 2015, which affected all UK card providers, we are making a change to the external loyalty points earned on the M&S Credit Card.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.