John Lewis Partnership Card to close in October
Update: Are you a longstanding John Lewis Partnership Card customer who has been rejected by NewDay or received a much lower credit limit? Please email firstname.lastname@example.org or share your experience in Disqus below.
Existing Partnership Card holders are invited to apply for the new version of the credit card provided by NewDay, following the end of its agreement with HSBC UK.
Until 6pm on 31 October 2022, existing customers can use their current card as normal before it will stop working. But John Lewis recommends customers stop using it a few days before then.
If your account has a zero balance on or after 1 November 2022, it will be automatically closed – you won’t need to do anything. Customers can close accounts ahead of then by calling 0345 300 3833.
If your account has an outstanding balance on or after 1 November 2022, you should continue to pay as usual (and pay at least the minimum each month) until it is paid in full. Your account will then automatically be closed when the balance is repaid in full.
John Lewis said customers who pay by Direct Debit or Standing Order should continue to keep these active to ensure payments are maintained. You will continue to receive monthly statements until the balance is paid in full. For this reason, it said it is important for customers to keep contact details up-to-date.
If your account is in credit, you can ask for this to be returned to you at any time.
New John Lewis Partnership Card
Existing customers can apply for the new Partnership Card if they want to continue to earn points on spends at John Lewis and Waitrose, as well as other retailers.
But as this is a new product with a new provider (NewDay), it does mean customers need to re-apply so credit checks will be carried out. If you are rejected by NewDay, John Lewis confirmed customers can continue to use their existing card until the account closes on 31 October.
John Lewis said it has made it easy for customers to transfer, as they’re given an option to have the application form pre-populated with details it already holds on record.
And for applications made by Saturday 31 December 2022 – also the last date to apply with existing Partnership Card account details – former customers will earn triple points for eligible purchases at John Lewis and Waitrose for the first 90 days after being accepted.
Partnership Card customers earn five points for every £4 they spend at John Lewis or Waitrose online and in-store. There’s no change on this points rate from the former and new Partnership Card. But as part of its relaunch offer, customers can earn triple the usual of points on these transactions.
Card holders also earn one point for every £4 they spend at other shops, restaurants and online retailers that accept Mastercard, however, this part isn’t eligible for the triple bonus points.
Overall, for every 500 points accrued, customers receive £5 John Lewis and Waitrose vouchers three times a year in June, October and February.
John Lewis confirmed customers will receive their vouchers this October as usual, and any points remaining on their existing card will either be transferred to their new Partnership Card, or issued as vouchers (minimum 500 points) in November in a one-off mailing. For those who have transferred to the new deal, the next lot of vouchers will be sent in February. Points expire after two years.
Other points to note about the new Partnership Card is that is comes with a representative APR of 18.9% (18.94% purchase rate) and has late payment fees of £12. Up to three additional cardholders can be added to the account.
Customers transferring a balance from an existing Partnership Card and any other credit cards to the new Partnership Card will pay 0% interest for the first six months.
Further, customers who are members of the MyJohnLewis and/or MyWaitrose loyalty schemes will also be automatically added to a prize draw upon successful application for the new Partnership Card where they can win up to £500 in vouchers.
If existing customers aren’t a member of these loyalty programs, they can sign up before Saturday 31 December to be eligible.
John Lewis confirmed the new Partnership Card will be rolled out to new customers in September.
Rachel Springall, finance expert at data site Moneyfacts, said: “If consumers are using a credit card to earn some rewards or cashback, then they should ensure that they repay their balance each month to avoid incurring interest. It would take consumers a while to earn enough points on a reward card to make it worth their while. Cashback cards on the other hand could be a more rewarding and useful alternative, as traditionally points cards only reward consumers for shopping with their brand and those points usually then convert into specific vouchers.
“One free way for shoppers to build up points to spend in their favourite stores would be to sign up for a loyalty points card. It is worth the effort to sign up for these cards, particularly for stores or coffee shops they visit frequently. If customers don’t like the idea of holding multiple cards, then they could download the Stocard app – it’s completely free and can easily be scanned at the point of purchase.”