NewDay John Lewis card - only 15 days to pay statement

ricahrd

Just info for others as I've just discovered this.

Received my first statement for my new John Lewis NewDay card to replace the discontinued HSBC one.  Was surprised to see that they only give you 15 days to pay it as all other cards I have ever had give at least 21 or 25 days to pay.

I messaged them from within the app on my phone to query this and they confirmed that the new John Lewis card does indeed only have 15 days "grace period" as they call it, whereas the previous HSBC issued one had 25 days.
I questioned this as I have another NewDay issued card which has 25 days grace period and they confirmed that all NewDay cards have a 25 day grace period but the John Lewis one only has 15 days!  A special deal for valued John Lewis customers then?!

Not a big deal breaker but you need to be prompt/aware of the statement fairly quickly and make sure it gets paid.

They advised that it was written in the terms but I've just downloaded the terms and it says this:
"Your contractual minimum payment must reach your account by the payment due date shown in your statement. This will be about xx days from your statement date"

And the pages are watermarked with "example".  So, they haven't even written out their terms properly yet.  Anyone noticed any mention about 15 days?

thanks,
Richard.

daveyjp

This detail was in the terms and conditions during the application process and in the hard copy of the credit agreement sent with the card.

MorningcoffeeIV

They're written them out, but they, like a lot of lenders, use generic templates that will then be populated with product specific data when issued to customers, rather than upload all the variations.

If you've lost your copy of your terms, ask them to send you another.

Ebe_Scrooge

ricahrd said:

Not a big deal breaker but you need to be prompt/aware of the statement fairly quickly and make sure it gets paid.

This is where a Direct Debit for the full amount is invaluable

I agree that the 15 days between statement and payment date is slightly unusual, but that still gives you a fortnight to pay it which should be ample time.

Uitlander

I've had the same thing today. The timing is particularly awkward for the first statement as my old JL card (which I stopped using at the end of September) is taking the full balance on 7th November, and my new JL card (which I started using on Oct 1st) will be taking the full balance on 9th November. I realise this will normalise after next month to one payment a month, but to have almost two complete months' worth of credit card spending taken two days apart will be quite painful.  

MEM62

If I recall correctly, there is only a 20-day window on my Virgin CC so this is not that unusual.  

lr1277

If memory serves, on the long John Lewis thread, it was suggested/noted that people who transferred over from the previous card got a short repayment window. If you were a new applicant to the Newday card, you got the full 56 days.

[Deleted User]

lr1277 said:

If memory serves, on the long John Lewis thread, it was suggested/noted that people who transferred over from the previous card got a short repayment window. If you were a new applicant to the Newday card, you got the full 56 days.

The Summary Box (with new applications) definitely says: Maximum 56 days on standard purchases if you pay your balance in full every month and on time. 

As a side note, they are offering 3 standard APR bands (which I wasn't aware of) 21.9%, 29.9% & 39.9%.The latter is definitely sub-prime territory as their Aqua branded card starts at 37.9%.

M25

NewDay's BIP card is also 15 days. Pretty cool otherwise but definitely something to take care with as I'm used to much longer payment due cycles.

https://www.bip.credit/

prowla

If you don't like the particular card's timescales, you can simply stop using it and get another better one.

NewFloppity

I'm now tending to use my new JL card only for purchases from Waitrose and John Lewis purely to get the vouchers. I used to use my old JL card for virtually all of my spending and I'm now using my M&S card instead.