From 1 August 2021 you're no longer able to request a new or extend a payment holiday on your
M&S Credit Card, M&S Budgetcard, Chargecard and Personal Reserve.
If you have any questions about a payment holiday you've taken previously, please read the
How did your payment holiday work?
Your payment holiday meant you didn't need to make monthly payments over the payment holiday
If you usually pay by Direct Debit, we won't have collected any payments from you over this
If you usually pay by Standing Order, we asked you to cancel this at the start of the
As your payment holiday has now ended, you'll continue to see your minimum payment and the
on your monthly statement as normal. You may have noticed this is higher following your
holiday. This is because your minimum payment is based on the amount you owe, which will
account any increase due to interest or use of your card during the payment holiday.
If you cancelled your Direct Debit or Standing Order at the start of your payment holiday,
need to set up a new one if you haven't already. Until then, you'll need to make payments
way. For help with ways to pay, including how to set up a Direct Debit, please visit ways to pay
your credit card. You can also find information about ways to pay on the back of
Did interest and charges apply during your payment holiday?
Interest continued to apply at the usual rates during your payment holiday, as well as
charges (for example, if you used your card to withdraw cash). We didn't apply any charges
over your credit limit during the payment holiday. There were also no charges for paying
there were no minimum payments due over this period.
As you didn't have to make any payments during the payment holiday period, you may not have
all the interest added to your account. This means there'll be interest charged on that
well as on transactions added to your account.
Your balance may also have increased if you continued to use your card during the payment
so you could be paying interest on a higher amount and you may have noticed your minimum
higher following your payment holiday.
If you usually make the minimum or fixed payments, it's worth considering whether you can
higher amount. This will reduce the extra time it could take to clear your balance and the
Did your payment holiday affect your credit file?
Taking a payment holiday didn't impact your credit file, but providers may consider other
information when making future lending decisions.
Why aren't payment holidays available any longer?
This is in line with guidance provided by the Financial Conduct Authority. However, there's
support available which will be tailored to your individual circumstances. The options we
available are likely to impact your credit file.
If you need our help, find out how you can get in touch.