United Kingdom

M&S Club Rewards credit card: Is it any good?

M&S Bank has launched a new rewards credit card offering its customers enhanced rewards and a range of shopping vouchers among other benefits.

M&S Club Rewards comes with a £10 monthly charge and is exclusively available to credit card holders with the retail giant.

The new membership provides a host of benefits including unlimited next day delivery for M&S online purchases, additional reward points on M&S shopping and overseas spending and a plethora of vouchers.

M&S Club Rewards benefits include free next-day online delivery on M&S.com shopping.

'This is not just a credit card – it's a "bursting with rewards" M&S credit card,' said Kirsty Ward, director of bank and services at M&S.

'Our M&S Credit Card program is unique and enjoyed by millions of customers and M&S Club Rewards offers even more for those who love M&S.

'This marks the latest step in our transformation to deliver truly rewarding payment experiences for our customers.'

What does Club Rewards offer?

To start with, membership enables customers to benefit from unlimited next day delivery for all M&S online purchases.

This will be a huge draw for many shoppers with many major UK retailers yet to offer this type of service.

At present, free standard delivery for M&S shoppers takes 3-5 working days and is usually only available for purchases over £50 - the usual charge for next day delivery is £4.99.

'The inclusion of unlimited free next day delivery will no doubt prove popular,' said Andrew Hagger, personal finance expert at MoneyComms.

'It's a key element of Amazon Prime and during the last 12 months, home delivery has been big business and is likely to remain at pre-Covid levels.'

M&S Credit Card spending in-store and abroad (3 points per £1) - thanks to number crunching from MoneyComms
Monthly spend Annual reward 
£150 £54  
£200 £72 
£250 £90  
£300 £108  
£350 £126  
£400 £144  
£600 £216  

On top of any M&S Bank Credit Card rewards, Club Rewards will give you an additional two points for every £1 spent with M&S.

100 reward points is worth £1 in M&S vouchers and points will be automatically converted into M&S vouchers and sent out to customers every three months. 

This means shoppers will acquire three points every £1 spent with their credit card - equivalent to three per cent cashback.

When spending £300 a month on an M&S credit card you could expect to accrue £108 a year in points.

M&S Club Rewards customers can also enjoy 32 hot drinks vouchers for use in the M&S café throughout the year with no value limit per voucher.

Customers will also benefit from three points for every £1 spent abroad, which is the equivalent of the foreign exchange fee of 2.99 per cent.

M&S are currently giving customers the chance to boost these rewards even further via an introductory offer with Club Rewards membership – equivalent to four points per £1 first 12 months only.

This means during the first 12 months, a £300 monthly spend in M&S will earn you £144 over the course of the first year.

In addition to earning reward points on M&S spending and purchases abroad, M&S Club Rewards customers will also earn one point for every £5 spent outside of M&S.

Like most store brand reward credit cards, the reward for spend elsewhere is much reduced, in the case of M&S, its one point per £5 spent is the equivalent of only accruing £14.40 each year were you to spend £600 a month outside of M&S.  

Furthermore, the reward card's generous array of vouchers include three £15 clothing and home vouchers, alongside a £20 clothing and home voucher to use at Christmas, plus a £12 M&S food voucher to buy a birthday meal or treat.

Customers will also be able to enjoy 32 hot drinks vouchers for use in the M&S café throughout the year – with no value limit per voucher.

How do the vouchers work?

None of the vouchers are transferable so you will not be able to exchange them for cash or resell them to someone else.

The birthday treat voucher worth £12, is specifically for the cardholder to spend on food or drink treats and can be used in food halls and M&S cafes - once issued the voucher will only be valid for five weeks.

There is no minimum spend on the Christmas £20 Clothing and Home voucher.

However, the voucher can only be used once and partial refunds for any unused amount are not permitted.

How does the M&S Bank Credit Card rewards/cashback compare based on monthly spending habits? (MoneyComms)
Provider/ Card FeeAre rewards issued automatic-ally?  Are rewards issued automatic-ally?  Net benefit after £250p/m spendingNet benefit after £300p/m spendingNet benefit after £350p/m
Net benefit after £400p/m spendingNet benefit after £600p/m
M&S Credit Card with Club Rewards membership £10 p/m Yes - Quarterly 3 points per £1 at M&S Net annual benefit (without spending) less £120 fee  £135£153 £171 £189 £261 
Tesco Clubcard Plus £7.99
Yes - Quarterly 5 points per £4 spent in Tesco Store. Plus 10% off 2 shops p/m  £91.62 £129.12 £166.62 £204.12£354.12 
Sainsbury’s Bank Credit Card + Nectar n/a No 3 Nectar Points Per £1 At Sainsburys/Argos/Tu Clothing  £48.75 £58.50 £68.25 £78 £117 
John Lewis & Waitrose’s Partnership Card n/aYes - 3 times a year 5 points per £4 spent at John Lewis or Waitrose  £37.50 £45 £52.50 £60 £90 
American Express Everyday Platinum Cashback Card n/a n/a Based on standard cashback offer – 5% first 3 months – max £100 
No fee 0.5% on first £10k from 4th August Min £3k annual spend to qualify 
 £48.75 £58.50 £68.25 £78.00 £117 
American Express Platinum Cashback £25 a year n/a Based on standard cashback offer – cashback offer – 5% first 3 months – max £125 0.75% on first £10k from 4th August  £29.38 £40.25 £51.13 £62.00 £105.50 
M&S Credit Card Rewards Offer (including introductory offer) with Club Rewards Membership £10 p/mYes - Quarterly 4 points per £1 at M&S Net annual benefit (without spending) less £120 fee  £165 £189 £213 £237 £333 

When using the voucher, for any part payment transactions, the balance should be paid using the M&S card on the account.

The 32 Hot drink vouchers have a three-month expiry to be aware of and likewise for any part payment transactions, the balance should be paid using the M&S card on the account.

There is no cap on the vouchers and coffee prices in M&S Café ranges from £1.75 to £3.

Customers have the option to add unlimited extra shots of coffee for 50p each, syrups for 50p each and also switch to a Colombian blend of coffee for an extra 20p.

The £15 home and clothing voucher will come available throughout the year – once in spring, summer and autumn.

How does it compare?

When compared to other rewards cards, the M&S club rewards membership fares very well.

It's closest competitor is the £7.99 a month Tesco Clubcard Plus, which offers five points per £4 spent on top of 10 per cent off your groceries in-store, twice a month.

Tesco Clubcard Plus customer can expect to see an annual reward benefits of £129.12 for every £300 spent, according to number crunching by MoneyComms.

The net benefit for a M&S credit card customer with Club Rewards membership is £153 for £300 of monthly in-store spending.

The Tesco Clubcard Plus has a £7.99 monthly charge and offers five points per £4 spent in Tesco Store plus 10 per cent off 2 shops per month.

But as with all rewards customers, much will depend on how much you spend and whether you fully take advantage of all the perks.

'For M&S spending of up to £350 per month with any of the M&S Credit Cards – or up to £400 in the first 12 months if customers take out the M&S Credit Card Rewards Offer - it's the most rewarding offer on the market,' said Hagger.

'For higher monthly spending, Tesco Clubcard Plus comes out on top due to the 10 per cent rebate on your two biggest food shop bills each month.

'The Tesco offering costs £7.99 per month and like M&S offers several but different 'same brand' benefits such as double data on mobile phones and 10 per cent in store Tesco ranges of clothes and cookware.'


Although the £10 monthly fee may have some people turning their noses up at this new offering by M&S, ignoring all other benefits, it is still possible to more than offset that cost using the vouchers alone.

MoneyComms has calculated that after using all the vouchers, customers should still see a net benefit of about £45 each year.

Then there is also the reward points to be accrued from in-store spending, which could amount to as much £189 in the first year were you to spend £300 on average each month in M&S. 

The unlimited free next day delivery is also not to be sniffed at either. 

With no minimum spend on M&S purchases, this could save Club Rewards members a further £4.99 each time they order online compared to other M&S shoppers.

'Its components are different from other store brand offerings,' said Hagger.

'This is a unique and financially worthwhile product for M&S shoppers, with larger spenders being rewarded with increased reward vouchers on top of the core benefits,'

'The days of over-arching rewards or cashback programmes that reward you handsomely wherever you shop are a thing of the past.

'But as far as store branded reward offers go, this is an added value package that delivers and for M&S shoppers it is worth a closer look.'

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