John Lewis Partnership Card

WillPS

Moonraker21 said:

I have held a John Lewis Partnership card for nearly 20 years. The card until last year was run financially by HSBC but in their wisdom last year 2022 John Lewis changed to New Day Ltd group of companies. That in itself was not a problem. The problem in my thinking is the way New Day present their customers monthly account statements.

Under HSBC operations a John Lewis Partnership Card customer  received a monthly account statement showing the amount outstanding, the MINIMUM PAYMENT DUE & your new balance – if you paid only the Minimum Payment then interest charges would apply to the difference, quite straightforward and understood.

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

I have checked other credit card companies and found all use the term Minimum Payment and not Payment Requested

It's time New Day changed the statement wording

I'm not sure I see the problem. The Minimum Payment Due is all the issuer wants/needs. They are perfectly happy for you to pay that and incur interest on the rest, in fact that's likely what makes the card viable. 'Payment Requested' is just as clear a legend.

MorningcoffeeIV said:

Moonraker21 said:

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

The kind of people who think they would not be charged interest on the amount they don't repay won't be eligible for a John Lewis card.

How would that possibly be determined or enforced?

MorningcoffeeIV

WillPS said:

Moonraker21 said:

I have held a John Lewis Partnership card for nearly 20 years. The card until last year was run financially by HSBC but in their wisdom last year 2022 John Lewis changed to New Day Ltd group of companies. That in itself was not a problem. The problem in my thinking is the way New Day present their customers monthly account statements.

Under HSBC operations a John Lewis Partnership Card customer  received a monthly account statement showing the amount outstanding, the MINIMUM PAYMENT DUE & your new balance – if you paid only the Minimum Payment then interest charges would apply to the difference, quite straightforward and understood.

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

I have checked other credit card companies and found all use the term Minimum Payment and not Payment Requested

It's time New Day changed the statement wording

MorningcoffeeIV said:

Moonraker21 said:

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

The kind of people who think they would not be charged interest on the amount they don't repay won't be eligible for a John Lewis card.

How would that possibly be determined or enforced?

Through acceptance criteria and self-selection.

It's not a card aimed at people who have never seen a credit card before.

WillPS

MorningcoffeeIV said:

WillPS said:

Moonraker21 said:

I have held a John Lewis Partnership card for nearly 20 years. The card until last year was run financially by HSBC but in their wisdom last year 2022 John Lewis changed to New Day Ltd group of companies. That in itself was not a problem. The problem in my thinking is the way New Day present their customers monthly account statements.

Under HSBC operations a John Lewis Partnership Card customer  received a monthly account statement showing the amount outstanding, the MINIMUM PAYMENT DUE & your new balance – if you paid only the Minimum Payment then interest charges would apply to the difference, quite straightforward and understood.

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

I have checked other credit card companies and found all use the term Minimum Payment and not Payment Requested

It's time New Day changed the statement wording

MorningcoffeeIV said:

Moonraker21 said:

Under New Day’s system, John Lewis Partnership Card customers receive a monthly account statement showing the amount outstanding,  the PAYMENT REQUESTED & your new balance. By using the term, Amount Requested I believe implies ‘that’s all we 'want/need’ and will encourage customers to unwittingly increase their outstanding balance with unwanted interest charges – the used wording ‘Amount Requested’ is for the benefit of New Day by increasing their revenue to the detriment of Card customers if they do not pay the total balance amount.

The kind of people who think they would not be charged interest on the amount they don't repay won't be eligible for a John Lewis card.

How would that possibly be determined or enforced?

Through acceptance criteria and self-selection.

It's not a card aimed at people who have never seen a credit card before.

Have you a source for that? I don't see any evidence at all that proven prior use of a credit card is a mandatory requirement for this card.

On the contrary, usually one attractive aspect of these affinity arrangements is the ability for the issuer to reach customers who normally wouldn't be interested in credit cards; which seems incompatible with your unsubstantiated notion that they are somehow out of scope for this product. One of JLP's reasons for exiting the JLFS/HSBC arrangement was dissatisfaction with HSBC's lending criteria, hence perhaps why they've ended up with a more broad market issuer.

lr1277

According to my MSE credit club report, my JLP card is showing as closed on 31/01/2023. I still log into the app to see no regular payments have been taken from my account, which I thought possible even if an account was closed. Just in case.

Not sure about HSBC lending policies being a restricting factor. In the autumn of 2021, I asked the provider to double my limit which they did. They knew I was unemployed at the time I asked. I am not going into the whys, hows and wherefores.

WillPS

lr1277 said:

Not sure about HSBC lending policies being a restricting factor. In the autumn of 2021, I asked the provider to double my limit which they did. They knew I was unemployed at the time I asked. I am not going into the whys, hows and wherefores.

It's not supposition on my part, it's there in JLP's press release announcing the partnership.

John Hourican, CEO of NewDay, commented: “We’re excited to be partnering with John Lewis on the relaunch of their Partnership Card. NewDay has a track record of over 20 years of underwriting, and our proprietary credit decisioning capabilities allow us to responsibly say ‘yes’ to more customers, which will enable even more John Lewis customers to enjoy the much-loved Partnership Card rewards.”

lr1277

WillPS said:

lr1277 said:

Not sure about HSBC lending policies being a restricting factor. In the autumn of 2021, I asked the provider to double my limit which they did. They knew I was unemployed at the time I asked. I am not going into the whys, hows and wherefores.

It's not supposition on my part, it's there in JLP's press release announcing the partnership.

John Hourican, CEO of NewDay, commented: “We’re excited to be partnering with John Lewis on the relaunch of their Partnership Card. NewDay has a track record of over 20 years of underwriting, and our proprietary credit decisioning capabilities allow us to responsibly say ‘yes’ to more customers, which will enable even more John Lewis customers to enjoy the much-loved Partnership Card rewards.”

Perhaps. But that statement does seem to me like management speak. But yes you could be right.

Edited to add: the proof of the pudding will be comparing customer numbers and average spend per customer for the two organisations.

WillPS

lr1277 said:

WillPS said:

lr1277 said:

Not sure about HSBC lending policies being a restricting factor. In the autumn of 2021, I asked the provider to double my limit which they did. They knew I was unemployed at the time I asked. I am not going into the whys, hows and wherefores.

It's not supposition on my part, it's there in JLP's press release announcing the partnership.

John Hourican, CEO of NewDay, commented: “We’re excited to be partnering with John Lewis on the relaunch of their Partnership Card. NewDay has a track record of over 20 years of underwriting, and our proprietary credit decisioning capabilities allow us to responsibly say ‘yes’ to more customers, which will enable even more John Lewis customers to enjoy the much-loved Partnership Card rewards.”

Perhaps. But that statement does seem to me like management speak. But yes you could be right.

Edited to add: the proof of the pudding will be comparing customer numbers and average spend per customer for the two organisations.

Kind of fits though too doesn't it. HSBC are known to be a far pickier lender (although anecdotally I've seen a lot less complaints about not being accepted recently). NewDay on the other hand have 'poor credit' products in their range.

HonestJohn

Has anyone recieved any JL vouchers since they moved over to Newday?

MollyR

Yes, I received a fistful of them on 10th March.

HonestJohn

MollyR said:

Yes, I received a fistful of them on 10th March.

I had 500 points cashed in a month ago but nothing yet.