UK food and clothing retailer Marks & Spencer has announced that it is to launch its "&more" combined credit card and loyalty programme on 6 October.

Customers will be able to use the &more credit card in all outlets which accept credit card payments. When customers use the card they will earn loyalty points, which when accumulated can be translated into &more reward vouchers for use in Marks & Spencer stores.

The company’s 2.6 million existing Chargecard users will be upgraded to the new card during September. Other customers will be able to apply for the new credit card from 6 October.

"Marks & Spencer Money forms an important part of our overall group strategy. The '&more' credit card launch will provide us with a strong platform for future growth," Roger Holmes, group chief executive said.