John Lewis Partnership Card

Grumpy_chap

foxgloves said:

Applied for the new card. Straightforward process. Not happy about the credit limit though, which has been set at £250.  My original Partnership card had a limit of £2700 & I wouldn't want more than that. F

So, you still have the £2.7k credit available plus the extra £250 credit.
Your total credit available has increased.
The algorithm will not assume that you will close the £2.7k facility - even though you will be forced to.
NewDay is a sub-prime lender so also not known for high credit limits.
You would think that someone at JL would have worked out the potential marketing links of tying their "premium" brand store with a sub-prime lender, but obviously not!

WillPS

Grumpy_chap said:

NewDay is a sub-prime lender so also not known for high credit limits.
You would think that someone at JL would have worked out the potential marketing links of tying their "premium" brand store with a sub-prime lender, but obviously not!

NewDay isn't an exclusively subprime lender, like Capital One or Vanquis. They have some products aimed at subprime customers, but so do Barclaycard and Tesco Bank. I briefly had an Amazon credit card with them with a 5-figure limit.

dunstonh

WillPS said:

Grumpy_chap said:

NewDay is a sub-prime lender so also not known for high credit limits.
You would think that someone at JL would have worked out the potential marketing links of tying their "premium" brand store with a sub-prime lender, but obviously not!

NewDay isn't an exclusively subprime lender, like Capital One or Vanquis. They have some products aimed at subprime customers, but so do Barclaycard and Tesco Bank. I briefly had an Amazon credit card with them with a 5-figure limit.

They are pretty much associated with the lower end of the mainstream market.    They are an unsuitable match for your typical John Lewis/Waitrose customer.

WillPS

dunstonh said:

WillPS said:

Grumpy_chap said:

NewDay is a sub-prime lender so also not known for high credit limits.
You would think that someone at JL would have worked out the potential marketing links of tying their "premium" brand store with a sub-prime lender, but obviously not!

NewDay isn't an exclusively subprime lender, like Capital One or Vanquis. They have some products aimed at subprime customers, but so do Barclaycard and Tesco Bank. I briefly had an Amazon credit card with them with a 5-figure limit.

They are pretty much associated with the lower end of the mainstream market.    They are an unsuitable match for your typical John Lewis/Waitrose customer.

That's tosh, frankly.

Capital One used to be a more broad lender but shifted their focus downmarket.
Barclaycard and Tesco Bank used to be more middle market but introduced products aimed at low earners.
Amex have gradually shifted from being associated with affluent clientele to being a mass-market product.

Even if you accept this 'lower end of the mainstream market' stuff nothing about what NewDay do is so low end that they can't be useful to a more affluent clientele, nor is there anything stopping any lender with ambitions of moving up or downmarket. 

The real problem here is that John Lewis' customer base skews older and the JLFS Partnership Card launched getting on 2 decades ago. Many JLFS cardholders will have held their accounts for years, some likely applied when they still had a decent salary, and others will have held their cards since before the credit crunch which dramatically changed the thresholds over which credit was given out. If those customers were to apply for the JLFS product the last day it was available as a new customer, they would likely have found that they would have been declined altogether as HSBC are far more stringent generally.

This is the quite possibly the miscalculation made by JL when they chose to terminate their partnership with HSBC. If anything, NewDay's willingness to offer small limits and 'build up' at least means those customers who other lenders would have declined outright at least get a card and a shoe in the door so to speak.

Contador38

Has anyone managed to register with New Day/ John Lewis organisation ?
I applied last week and received an email that a new card is on its way.
Another email received yesterday asking me to register.
But everytime I try to register, it tells me 'System is currently unavailable - Try again later '
I would say that during application. I was also asked to register; but again was unable to register
for some unknown reason. Out of time ? System freeze ?

onthemend

My wife has held a JL Partnership card for over 7 years as the primary card holder, and I have an additonal card on the same account as a secondary card holder.

She's recently taken retirement, so when she applied for the new card, we had to put her retirement income in as the main user and my income (currently still working) as a partner and we've been declined - despite always paying off the balance. Computer says 'no'. Luckily this doesn't affect her credit score.

After speaking with JL card services, they suggested that I register an interest as a new customer and try this way - I believe they will open applications to new users later in September- fingers crossed we can do it this way.

WillPS

onthemend said:

My wife has held a JL Partnership card for over 7 years as the primary card holder, and I have an additonal card on the same account as a secondary card holder.

She's recently taken retirement, so when she applied for the new card, we had to put her retirement income in as the main user and my income (currently still working) as a partner and we've been declined - despite always paying off the balance. Computer says 'no'. Luckily this doesn't affect her credit score.

After speaking with JL card services, they suggested that I register an interest as a new customer and try this way - I believe they will open applications to new users later in September- fingers crossed we can do it this way.

I'm not sure why this would make a difference, if anything I presume they'd be less able to offer credit to non-JLFS customers?

What might make a difference is waiting for your JLFS card to close, then waiting for that to drop off your credit record before re-applying a few months later.

Marmaduke123

Well, I decided to apply after all after receiving the email and code today. I'm pleased to say it was all very straightforward, and I've been given the same credit limit as with the old card, which is very satisfactory as I was concerned about a possible reduction. My circumstances have changed a lot since I originally applied for the old card.

It's worth noting that you can see your credit limit before you complete the application, so if it's not enough you can abort the application and look elsewhere.

older_wiser

onthemend said:

My wife has held a JL Partnership card for over 7 years as the primary card holder, and I have an additonal card on the same account as a secondary card holder.

She's recently taken retirement, so when she applied for the new card, we had to put her retirement income in as the main user and my income (currently still working) as a partner and we've been declined - despite always paying off the balance. Computer says 'no'. Luckily this doesn't affect her credit score.

After speaking with JL card services, they suggested that I register an interest as a new customer and try this way - I believe they will open applications to new users later in September- fingers crossed we can do it this way.

as a non current JLP card holder i said i was interested in the card afew weeks ago and yesterday i was sent an email where i was able to apply i did the eligibility checker and it did show me what limit and interest rate i'd get so if you do show interest now it might be quicker than september

cymruchris

older_wiser said:

i signed up to get further information about the John Lewis card i'm not a current holder of the partnership 

i've just got an email that its now open to non current members there is also an eligibility checker 

not interested myself but thought it was worth posting in case anyone non members were interested. 

The main website still shows as existing members only. I'm not necessarily going to apply for one, but I like to run the eligibility checkers from time to time to see what they say.