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

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Hard credit search, then no communication

I applied for an M&S personal loan advertised at a representative APR of 5.9%. I fully understand that a representative APR is not guaranteed and that the final rate depends on individual circumstances. My issue is with how the application was handled. M&S carried out a hard credit search and then referred my application for further review. I was told I would hear back within five working days. I waited the full five business days and received no decision, email or update. I eventually contacted M&S myself, only to be told that my application had been approved at 13% APR. Had I not chased them, I have no idea when I would have been informed. For comparison, I subsequently applied elsewhere and was approved immediately at 8.5%. I am not complaining because M&S did not offer me the advertised 5.9%. I am complaining because they carried out a hard credit search, made a lending decision and then failed to communicate that decision to me within the timeframe they had given. What made the experience worse was the complaints process. When I asked for a formal complaint to be logged about the way the application had been handled, the complaints adviser I spoke to refused to register it. The call became increasingly frustrating and ultimately went nowhere. A disappointing experience from a major financial institution. I would be very reluctant to apply for credit with M&S Bank again. Reviewed on: 13th August 2026

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