Asda Credit Card

lr1277

I say the following to give you finformation. Feel free to ignore.

As Jaja are providing the credit facilities be aware that Jaja can at anytime decide to withdraw the card. Applicable to any card but more so with co-branded cards.

In my case, I had the old John Lewis card when they partnered with HSBC. John Lewis decided to change credit provider to Newday so my HSBC provided card was closed down. Due to a change in my income since I applied for the John Lewis card, I could not get a card with Newday, even though according to MSE credit club, I had a credit score of 999. I had no income to meet Newday's requirements.

Also Jaja took over the customers of the Post Office card. At the moment, Jaja are in the process of closing the accounts of the former Post Office customers. According to posts on the thread about the unexplained Jaja closures, the opinion seems to be that Jaja are restructuring their client base.

It is less likely a credit card provided by a bank/building society will be closed down, but always possible.

Edited to add: Sorry didn't realise date of 1st post till now.

Also don't get too attached to any single card. Keep your options open if you can do so.

emperormessia

lr1277 said:

Also don't get too attached to any single card. Keep your options open if you can do so.

Agree !
Any co branded card should be used for the rewards/ perks and get credit with high street banks/ building society chances of it getting closed is low

WillPS

lr1277 said:

I say the following to give you finformation. Feel free to ignore.

As Jaja are providing the credit facilities be aware that Jaja can at anytime decide to withdraw the card. Applicable to any card but more so with co-branded cards.

In my case, I had the old John Lewis card when they partnered with HSBC. John Lewis decided to change credit provider to Newday so my HSBC provided card was closed down. Due to a change in my income since I applied for the John Lewis card, I could not get a card with Newday, even though according to MSE credit club, I had a credit score of 999. I had no income to meet Newday's requirements.

Also Jaja took over the customers of the Post Office card. At the moment, Jaja are in the process of closing the accounts of the former Post Office customers. According to posts on the thread about the unexplained Jaja closures, the opinion seems to be that Jaja are restructuring their client base.

It is less likely a credit card provided by a bank/building society will be closed down, but always possible.

Edited to add: Sorry didn't realise date of 1st post till now.

Also don't get too attached to any single card. Keep your options open if you can do so.

The JLFS situation is a bit more complex than that. While it's true HSBC provided the systems, support etc, the party your agreement with was not HSBC but John Lewis Financial Services, which was a JV between HSBC and the John Lewis Partnership. This complicated proceeding because any sale of the existing JLFS customer base would have had to be acceptable to both parties - even if HSBC wanted to keep them they would have had to buy John Lewis out to do that. It's fair to assume this was somewhat of a blocker for the continuance of those existing credit agreements.

This differs from the Post Office situation - those cards were originally issued by Bank of Ireland under an affinity arrangement with Post Office. A smaller number carried the AA brand and some Bank of Ireland directly, but the credit agreement was with Bank of Ireland. After BoI lost the Post Office contract they wanted out of the UK market and so sold their entire UK base to Jaja (mostly Post Office legacy cards). At this point the credit agreements were changed to reflect the fact that Jaja was now the lender.

It's unheard of for one of the retail banks to close cards of their own enmasse (even following the end of an affinity arrangement), but of course you're right they could at any time. What's changed in the last 10 years or so is that previously when one of these smaller lenders packs up there's no queue of buyers for them any more - which suggests to me that credit cards are no longer the license to print money they once were.

HeyItsMedz

Aidanmc said:

Has anyone received the £20 Asda pounds yet for the Asda credit new customer offer which was on until 28 feb?

I received mine about a week or two ago I think

jasonwatkins

Aidanmc said:

Has anyone received the £20 Asda pounds yet for the Asda credit new customer offer which was on until 28 feb?

I haven't received mine yet, although I'm sure I got a message suggesting it might not be until May.

I've been hammering mine a little bit for the past few months with a few big purchases but also using it nearly exclusively in Asda and Asda Online as well.  I've been paying it off in full as well in the hope I might get an early limit increase.   

RBYHS

Has anyone actually received any credit increase offers on this card?