M&S Money has been named best credit card provider at the first ever consumer awards from Which?
After launching less than four years ago, the high street retailer's & More card has picked up over three million customers and entered the top ten listings for UK credit cards with the most customers.
The Office of Fair Trading (OFT) this week revealed that 50 per cent of customers have never compared their credit card to any other product on the market.
But director of the Debt Advice Bureau Stephen Rose remarked that just 20 minutes spent browsing through their options could save a customer up to £1,250 if they have £5,000 worth of debt.
Nevertheless, he added, no single commendation should determine the choice of card, since what makes the best offer depends on the customer's usage habits.
Customers with an existing balance on their credit card will do best to shop around for one with the best balance transfer deal, for example.
By contrast, he advised customers using the card primarily for shopping to opt for a card with zero per cent on purchases.
Other Which? award winners included Smile for its current account and Waitrose for its broadband.
Find out more about a marks and spencer credit card
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