Guide to credit card fees and charges

We want to help you better manage your money, and your credit card

By being clear about the fees and charges linked to your account, we hope to help you understand how to potentially avoid incurring some of these fees and charges in the future.

What are the default credit card fees?

These are charges we apply where you’ve broken the terms of your agreement with us. Try to avoid this if possible, as it could also affect your credit file, and make it more difficult for you to borrow in the future.

  • Late fee: £12

    You'll be charged this if you're late making your minimum monthly payment and you'll see it included on your next monthly statement.

    To note: You need to pay the full minimum amount each month, even if you're due a refund to your account – unless the refund reduces your balance to less than the minimum payment.

    To avoid a late fee, why not set up a Direct Debit to make an automatic monthly payment? It could be to pay the minimum amount, a fixed amount or even to clear your balance.

    Set up a Direct Debit

  • Over-limit fee: £12

    This is charged if you go over your agreed credit limit at any time each month and will appear on your next statement.

    To help you stay within your limit, make sure we've always got your most up-to-date contact details, then we can send you a text to let you know when you're using 90% of your credit limit. You may also receive this notification via email or Internet Banking.

    Update your contact details

    Or, if you think you might need a higher limit, just get in touch via Internet Banking or by calling 0345 600 5860 to let us know and we'll consider your request. Just remember, if you increase your limit, it could cost you more or take you longer to pay off.

  • Returned payment fee: £5 

    You'll be charged this if you don't have enough money in your account to make a Direct Debit or cheque payment which is due.

    To avoid this happening, you could look at changing the date of your statement and payment date, to make sure that it's on a convenient day of the month for you. To do this you can call us on 0345 600 5860.

    You could also consider changing the amount of your Direct Debit.

    Change your Direct Debit

Are there any other additional fees?

  • Balance transfer fees

    If you decide to move a credit card balance you have with another provider to your M&S Credit Card, we'll charge a one-off fee for each balance transferred (minimum £5), which we'll add to your credit card balance. This fee varies depending on the type of credit card you have and whether you're eligible for a promotional balance transfer offer.

    Find out more about balance transfers

  • Cash advance fee: 2.99% of the transaction (minimum £3)

    A cash advance fee is charged to your account when you use your credit card to withdraw cash or make a cash-related payment, such as buying foreign currency, or money orders.

    The 2.99% fee (minimum £3) will be shown on your credit card statement.

    The way we charge interest on cash advances is also different to purchases. Interest is always charged from the date you make the withdrawal or cash-related payment, and the rate will be higher. 

    We treat buying foreign currency from an M&S Bureau de Change on your M&S Credit Card as a purchase, not a cash advance, meaning purchase rates and charges will apply to these transactions (and not rates and charges applicable to cash or cash related payments).

  • Non-sterling transaction fee: 2.99% of the transaction in sterling

    If you make a transaction on your credit card that isn’t in pound sterling, for example if you’re shopping abroad or using an international website, you’ll be charged a non-sterling transaction fee.

    The fee is currently 2.99% (minimum £3 for cash or cash related payments) and it applies on top of any other charge. So, for example making a cash transaction in euro will have two charges – a cash advance fee and a non-sterling transaction fee.

Interest rates

Using your credit card may mean you’ll be charged interest if you’re not within an introductory offer period. To find out more about your card’s interest rates, have a look at our credit card summary box.

Other ways to stay in control of your money

If you don’t already use our banking app, why not consider downloading it? It makes keeping track of your credit card payments and managing your M&S Credit Card easy, wherever you are and whenever you like.

Struggling with your payments?

If you're worried about making your repayments for any reason, we're here to help. Our financial support page suggests lots of ways to organise your finances and help manage your debts, but if you’re still concerned get in touch with us as soon as possible by signing into Internet or Mobile Banking and chatting with one of our agents or by calling us on 0345 900 0900.

Download the M&S Banking App