M&S relaunches account card with extra benefits

Marks & Spencer Financial Services is relaunching its account card with a new design and extra benefits, as part of the retail giant’s rebranding programme.

Marks & Spencer Financial Services is relaunching its account card with a new design and extra benefits, as part of the retail giant’s rebranding programme.

It follows M&S’s decision to accept other credit cards, which has put greater pressure on the account card to be more competitive.

The card has two variants – the Chargecard and the Budgetcard – which together are owned by 6 million customers.

The redesign was handled by branding specialist Creative Leap, following a pitch against Interbrand Newell & Sorrell.

The card has no annual fee and an annual percentage rate (APR) of 18.9 per cent (variable), lower than many rivals. Debenhams has an APR of 28 per cent on its storecard, while Next Gold charges 25.9 per cent.

Following the relaunch, cardholders will be entitled to an automatic one per cent discount on M&S Financial Services personal loans.

Other new benefits for cardholders include free delivery of commission-free foreign currency to account holders’ homes or workplaces.

Creative Leap has revamped the in-store literature, card statements and customer welcome packs for the card. It has also drawn up guidelines for the retailer’s direct marketing agencies, which include WWAV Rapp Collins and MBO.

M&S Financial Services accounts for more than 20 per cent of group profits.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here