M&S to make a major change to credit card rewards – is it still worth having one?

MARKS and Spencer is making a immense alteration to its Club Rewards strategy for recognition paper holders.

The retailer is axing respective lucrative benefits offered done the rank strategy next month, The Sun tin reveal.

The M&S Club Rewards strategy is simply a premium rank enactment for recognition paper holders with further perks for a £10 monthly fee.

Members of the strategy gain other reward points connected their recognition paper purchases and escaped M&S vouchers for clothing, home, food and drink.

Club Rewards members besides bask escaped next-day delivery, worthy £5.99, connected each order.

However, M&S volition beryllium discontinuing this perk from November 13.

The shake-up volition besides spot customers suffer retired connected earning other reward points erstwhile utilizing their credit cards abroad.

Instead, customers volition beryllium issued much M&S vouchers arsenic a replacement.

In an email sent to members today, M&S said: "We're ever listening to our customers and looking for ways to springiness you much of the things you emotion astatine M&S.

"So, from November 13, we're making a fewer changes to the benefits you get passim the twelvemonth to springiness you much of what our customers worth most."

"Customers person told america they privation much vouchers, truthful we're expanding your M&S vouchers from £65 to £120 per year.

"You'll inactive gain an other 2 rewards points for each £1 spent astatine M&S connected apical of immoderate Rewards points you gain connected your M&S credit card. You'll besides get 32 blistery portion vouchers and a dainty for your birthday."

Currently, customers person 3 £15 vouchers and 1 £20 voucher, totalling £65, to walk successful the covering oregon location departments, either in-store oregon online.

However, starting November 13, Club Rewards members volition person £120 worthy of M&S vouchers annually.

This includes 4 £25 vouchers for clothing, home, and beauty, positive 2 £10 vouchers for usage astatine M&S nutrient halls.

M&S is besides ditching the fixed £12 nutrient hallway vouchers offered to members connected their birthday.

Instead, these shoppers volition person an unspecified gift, which could beryllium a voucher oregon reward points boost.

An M&S Club Rewards spokesperson told The Sun: "We're successful the process of contacting our existing M&S Club Rewards customers, to springiness them beforehand announcement that immoderate of their benefits volition beryllium changing."

Is rank inactive worthy it?

Sarah Coles, caput of idiosyncratic concern astatine Hargreaves Lansdown, suggests that present is the cleanable clip to reassess whether these changes volition inactive enactment for you.

She said: "M&S has ditched escaped adjacent time transportation for its nine rewards customers.

"For online shoppers this volition person been a large portion of the attraction, due to the fact that it saved £5.99 connected each adjacent time transportation – going a agelong mode to justifying the £10 a period charge.

"You'll besides suffer the other points connected spending overseas, though the quality that makes to you volition beryllium connected however often you travel and however overmuch you spend."

The rank interest whitethorn inactive beryllium worthwhile for those who chiefly store astatine M&S, arsenic members volition present person £120 successful M&S vouchers each year. 

However, Sarah added: "You request to beryllium definite you'll walk these vouchers and that you would person spent this money successful M&S anyway.

"You're efficaciously swapping £120 to walk anyplace for £120 to walk successful circumstantial ways astatine M&S.

"If you don't get immoderate different worth from the club, you mightiness determine this isn't a decent trade."

While shoppers volition proceed to gain further reward points for spending connected their recognition card, it's captious to see whether this is the close prime for you.

Sarah said: "It's lone worthy it if you person the subject to instrumentality vantage of the benefits and repay connected clip and successful afloat each month.

"For galore people, the imaginable payment won't beryllium worthy the risk."

What are the alternatives?

If you don't chiefly store astatine M&S but inactive privation to gain mundane rewards connected your spending, determination are plentifulness of recognition and debit paper options available.

Many of these specializer reward cards are besides fee-free.

Chase's fee-free existent relationship offers a debit card, which allows for 1% cashback connected astir spending, and shoppers tin gain a maximum of £15 each month.

American Express (Amex) offers 2 cashback recognition cards.

The fee-free Amex Cashback Everyday Credit Card pays newbies 5% cashback connected each spending up to £125 during the archetypal 5 months of paper membership.

After this play customers volition proceed to gain 0.5% connected each spending up to £10,000 and past 1% connected each walk supra this.

However, to instrumentality vantage of immoderate of these cashback offers, you'll request to walk astatine slightest £3,000 connected the paper each year.

The Amex Cashback recognition card, which costs £25 a year, offers akin perks but without the minimum yearly spend.

Customers are rewarded with 5% backmost connected purchases wrong the archetypal 3 months, past 0.75% connected the archetypal £10,000 spent and 1.25% connected each spending supra this.

Existing Santander customers tin get ongoing 2% cashback connected their spending with the Santander Edge recognition card.

This comes with a £3 a period interest but gives customers 2% backmost connected astir purchases successful the archetypal 12 months and past 1% cashback thereafter up to a maximum of £15 a month.