John Lewis Cancelling their HSBC backed Credit card in October 2022

mrg9999

I had a (badly worded, looked like a scam ) email from John Lewis saying that my partnership was closing From 6pm on 31 October 2022

I spoke to HSBC, and they confirmed that HSBC had broken the relationship with John Lewis maybe not meeting their minimums for acceptable risk or maybe because you still can't get a free cup of tea or coffee.

Anyway, John Lewis say that Newday will be the new card provider.

I can't find out much about them
https://find-and-update.company-information.service.gov.uk/company/07297722

They had a news item

https://www.newday.co.uk/who-we-are/news/2022/newday-and-john-lewis-join-forces-in-financial-services-partnership/

Calling the number on their website it comes up as Krafty Trade - their website times out

Krafty Trade is an online artisanal wholesale platform. We dedicate our platform to helping small independent creative businesses sell their handmade goods at a wholesale level to shops around the UK. Krafty Trade endorses the idea of trading locally. We encourage independent makers and retailers to work together for mutual benefits and growth

So my question

Any horror stories with Newday?

[Deleted User]

There are horror stories about every lender.

But stick to your agreement and you'll be fine.

cymruchris

mrg9999 said:

So my question

Any horror stories with Newday?

They've run the Amazon Platinum Mastercard for a number of years, although that agreement is due to end next year. They also ran a lot of store branded cards such as Topman. Debenhams etc (before they all went under). They also run a lot of sub-prime cards such as Aqua. They have a fair amount of experience in the credit card market. 

Grumpy_chap

I have a NewDay Aqua card - they seem fine.
NewDay seem to be quite a large organisation and offer several of the affinity cards.

My Wife has a JL card and she also received the communication that all the cards are being closed.  I find it odd they are not doing the change with a way to migrate existing card holders from old to new, but c'est la vie.

Marchitiello

Grumpy_chap said:

… I find it odd they are not doing the change with a way to migrate existing card holders from old to new, but c'est la vie.

It is not odd, it is common practice as JLP does not own the credit agreements/contracts and financial obligations and licensing. They have barely a marketing agreement to put their brand on a Credit Card aimed at driving customer loyalty. This is always the case with similar Co-branded card. What it may be odd is the wording of card being closed rather then HSBC migrating to their standard offering as it is often the case (MBNA and Santander did that exiting some cobranded agreement in the past) 

We have covered this better in this other thread: https://forums.moneysavingexpert.com/discussion/6369647/john-lewis-partnership-card#latest

username

Marchitiello said:

Grumpy_chap said:

… I find it odd they are not doing the change with a way to migrate existing card holders from old to new, but c'est la vie.

It is not odd, it is common practice as JLP does not own the credit agreements/contracts and financial obligations and licensing. They have barely a marketing agreement to put their brand on a Credit Card aimed at driving customer loyalty. This is always the case with similar Co-branded card. What it may be odd is the wording of card being closed rather then HSBC migrating to their standard offering as it is often the case (MBNA and Santander did that exiting some cobranded agreement in the past) 

We have covered this better in this other thread: https://forums.moneysavingexpert.com/discussion/6369647/john-lewis-partnership-card#latest

I'm not sure how deep the relationship between HSBC UK and JLP is but once upon a time HSBC UK used to provide all of the ATMs found in Waitrose/JLP sites on a cobranded basis, sadly now replaced by Cardtronics (yuck!) ATMs.

I suspect the hardware must have been sold onto Cardtronics as some of it is fairly ancient, if you're wanting some old-school CRT goodness you're in the right place.

I can guess another part of the relationship is being unwound with the closing of the JLP card.

enthusiasticsaver

I also got the communication about not being able to use the JL partnership card after 31 October and invite to apply for New Day. Shame as the JL card is the oldest card I have. New Day used to run the Debenhams card and I had no issues with them. I have a Lloyds platinum credit card though so probably won’t bother to apply for the New Day card as I have no need for any more than one credit card.  

WillPS

username said:

Marchitiello said:

Grumpy_chap said:

… I find it odd they are not doing the change with a way to migrate existing card holders from old to new, but c'est la vie.

It is not odd, it is common practice as JLP does not own the credit agreements/contracts and financial obligations and licensing. They have barely a marketing agreement to put their brand on a Credit Card aimed at driving customer loyalty. This is always the case with similar Co-branded card. What it may be odd is the wording of card being closed rather then HSBC migrating to their standard offering as it is often the case (MBNA and Santander did that exiting some cobranded agreement in the past) 

We have covered this better in this other thread: https://forums.moneysavingexpert.com/discussion/6369647/john-lewis-partnership-card#latest

I'm not sure how deep the relationship between HSBC UK and JLP is but once upon a time HSBC UK used to provide all of the ATMs found in Waitrose/JLP sites on a cobranded basis, sadly now replaced by Cardtronics (yuck!) ATMs.

I suspect the hardware must have been sold onto Cardtronics as some of it is fairly ancient, if you're wanting some old-school CRT goodness you're in the right place.

I can guess another part of the relationship is being unwound with the closing of the JLP card.

Fairly common for supermarkets in the 90s/00s to do things like that.
Sainsbury's Bank machines were HBOS (and I think are still LBG?)
Tesco Bank/Personal Finance machines are RBS
In both cases they had a JV until the financial crisis.

The Co-operative Group and many societies used Co-op Bank until the group were forced to reduce their holding (to nil, eventually). The only exception were former Somerfields which kept their pre-existing A&L/Santander machines where they had them.

[Deleted User]

enthusiasticsaver said:

I also got the communication about not being able to use the JL partnership card after 31 October and invite to apply for New Day. Shame as the JL card is the oldest card I have. New Day used to run the Debenhams card and I had no issues with them. I have a Lloyds platinum credit card though so probably won’t bother to apply for the New Day card as I have no need for any more than one credit card.  

You should always have 2-3 cards from different providers, ideally 2 from 3 of mastercard / visa / Amex as you never know when a bank or card provider will have a system down

WillPS

Deleted_User said:

enthusiasticsaver said:

I also got the communication about not being able to use the JL partnership card after 31 October and invite to apply for New Day. Shame as the JL card is the oldest card I have. New Day used to run the Debenhams card and I had no issues with them. I have a Lloyds platinum credit card though so probably won’t bother to apply for the New Day card as I have no need for any more than one credit card.  

You should always have 2-3 cards from different providers, ideally 2 from 3 of mastercard / visa / Amex as you never know when a bank or card provider will have a system down

You can always use a Visa debit card as a backup tho; the lost rewards on all the times Mastercard's network is down and you need to purchase immediately will likely amount to no more than few pence over a period of decades.

[Deleted User]

WillPS said:

Deleted_User said:

enthusiasticsaver said:

I also got the communication about not being able to use the JL partnership card after 31 October and invite to apply for New Day. Shame as the JL card is the oldest card I have. New Day used to run the Debenhams card and I had no issues with them. I have a Lloyds platinum credit card though so probably won’t bother to apply for the New Day card as I have no need for any more than one credit card.  

You should always have 2-3 cards from different providers, ideally 2 from 3 of mastercard / visa / Amex as you never know when a bank or card provider will have a system down

You can always use a Visa debit card as a backup tho; the lost rewards on all the times Mastercard's network is down and you need to purchase immediately will likely amount to no more than few pence over a period of decades.

Sure but no S75 cover and money comes out of the account effectively immediately