Applicants for an M&S; credit account can get zero per cent interest on all purchases for the first year, along with a fixed balance transfer rate of 3.9 per cent for the life of the balance.

In addition, there is no balance transfer fee applied to the offer, which, analysts frequently note, is where many organisations make their money back on providing low or zero per cent rates on their cards.

“This is a great way for customers to get the most out of their credit card,” said Brendan Cook, chief executive of M&S; Money.

“With interest free shopping for a year…and no fees on balance transfers it’s no wonder that the &More; credit card is so popular.”

Mr Cook also noted that the M&S; card rewarded customers for shopping at Marks and Spencer stores, as well as its assimilated partners, meaning that the product offered two of the most important aspects customers look for in taking out a new card – reward paybacks and zero per cent rates.

“We now have over three million cardholders and since launch, customers spending on the card have earned over £100 million in &More; vouchers,” he added.

To read more about credit cards, click here.

© Adfero Ltd