Compare HSBC M&S Money to HSBC Finance credit cards

This item is categorized as a “Did You Know” feature. Did you know M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer? That is true, and is because In November 2004, Marks & Spencer sold M&S Money to HSBC.

At this time HSBC has not incorporated HSBC Finance credit card tactics for M&S Money. Some analysts say doing so would not be approved by Marks & Spencer representatives on the executive committee. Very few could imagine approval for such tactics as a five day delay when processing payments, skyrocketing late payments, and huge fees.

Even in the United States new financial laws disallow many tactics once used by HSBC to make their HSBC credit card business profitable. HSBC was also the last to remove a requirement for binding arbitration. Relative to M&S Money, analysts do not believe the company will go the way of Metris – nowhere but down hill – but as HSBC seeks more profits one must watch the makeup of the current M&S Money executive committee.