M&S Bank awards compensation to ‘thousands’ of customers after credit card delays
M&S Bank says customers should usually hear back within five working days
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Thousands of M&S Bank customers could reportedly be awarded compensation after their credit card applications were caught up in delays.
It’s understood a number of customers who applied for credit cards with the bank in recent months have been waiting up to eight weeks for a response.
A surge in credit card applications has created a backlog, The Sun reports, leading to customers waiting up to two months to find out if they had been approved or not.
M&S Bank says customers should usually hear back within five working days, and many of those eligible will be given instant acceptance.
A spokesperson for the bank said most successful customers will get their new credit card in the post in less than two weeks.
M&S Bank has sent some customers who were hit by delays a welcome message and thank you.
In an email to one customer, the bank offered an extra 500 M&S Rewards Points, which is worth around £5 in-store, The Sun reports.
The message reportedly said: "We're very sorry your recent credit card application took longer than it should have.
"To thank you for your patience, we're adding 500 extra M&S Rewards Points to your M&S Credit Card account, worth £5 to spend in M&S."
An M&S Credit Card spokesperson said: “With a range of offers to meet different customer needs, the M&S Credit Card continues to be extremely popular, and the overwhelming majority of customers whose application is successful will typically receive their new M&S Credit Card via the post in under two weeks.
“However, the time it takes to complete an application can sometimes vary, depending on the information needed to complete an application, and how soon it is received and processed.
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“We apologise if some customers have experienced a delay in their application and while we always aim to keep customers updated throughout the process, our live chat team are also available to support with any questions.”
M&S Bank offers one Rewards Point per £1 spent in M&S, both online and in-store.
Their credit card holders can also earn one Rewards Point per £5 spent elsewhere.
These points can then be transferred into M&S vouchers.