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Review of the M&S Bank - Marks and Spencer, Personal Loan:

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Don't use Marks & Spencer's Loans

I received an email stating i would get a 6% apr rate if i applied for a M&S loan. Went through the whole process and got accepted. Not at any point did it come up on screen saying that it had increased which increases the monthly payment. Got the email for the signing of documents at work and stupidly signed away without checking. When i got home and checked they had increased the apr to 10%. What a bunch of underhanded cretins. It only meant i would pay back nearly twice the interest but also increased the monthly payment by £40 a month. How do these people get away with this??! This has now put a hard credit check on my record (which i had nearly a top score for) so i cant apply for another loan for 6 months. Annoyed isn't the word! Use this misleading company at your peril. Reviewed on: 30th April 2025

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