Been waiting for this move
- Thread starter Rodcx500z
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Here is the article in full -
Many longstanding credit card customers of John Lewis are indignant after being told their credit limit will be slashed by up to 96 per cent.
A number of cardholders have aired their grievances on review website Trustpilot and Twitter. In some instances, cardholders have been told they will no longer be able to use their card after the end of October.
The backlash comes a fortnight after John Lewis confirmed it had appointed finance company NewDay to replace HSBC to manage its card. NewDay has five million customers and is the provider behind Amazon's credit cards.
John Lewis cardholders have been told they can keep using their old cards – which earn them rewards to spend in the department store and Waitrose – until 6pm on October 31. To remain a customer after this date, cardholders must reapply and be approved.
Retired Stephanie Buchanan, 69, from Suffolk, has had a credit card with the retailer for 16 years and 'is less than impressed' by being asked to reapply.
'However they wrap it up, they're asking me to apply for a new credit card,' she says. 'I would never open a new account with a company I've never heard of, especially after the reviews I read about NewDay were universally awful.'
NewDay has been around for 20 years and says it is one of the UK's largest providers of consumer credit. Its brands include Aqua and Bip – and it has partnership agreements with Argos as well as Amazon. The deal with Amazon is due to end in January.
Many longstanding credit card customers of John Lewis are indignant after being told their credit limit will be slashed by up to 96 per cent.
A number of cardholders have aired their grievances on review website Trustpilot and Twitter. In some instances, cardholders have been told they will no longer be able to use their card after the end of October.
The backlash comes a fortnight after John Lewis confirmed it had appointed finance company NewDay to replace HSBC to manage its card. NewDay has five million customers and is the provider behind Amazon's credit cards.
John Lewis cardholders have been told they can keep using their old cards – which earn them rewards to spend in the department store and Waitrose – until 6pm on October 31. To remain a customer after this date, cardholders must reapply and be approved.
Retired Stephanie Buchanan, 69, from Suffolk, has had a credit card with the retailer for 16 years and 'is less than impressed' by being asked to reapply.
'However they wrap it up, they're asking me to apply for a new credit card,' she says. 'I would never open a new account with a company I've never heard of, especially after the reviews I read about NewDay were universally awful.'
NewDay has been around for 20 years and says it is one of the UK's largest providers of consumer credit. Its brands include Aqua and Bip – and it has partnership agreements with Argos as well as Amazon. The deal with Amazon is due to end in January.
MrRook
Landlord.
If I had to reapply for a card that I'd had for 16 years I'd switch to a different one.
But, before the John Lewis credit card, there was an John Lewis/Waitrose account card that you paid in full every month.
They changed the account card and moved everyone on to the credit card way back then, so how is this different?
Also it's swapping from visa to MasterCard & many more companies & banks are also doing this, so maybe visa charges are too high & the market is voting with its feet.
They changed the account card and moved everyone on to the credit card way back then, so how is this different?
Also it's swapping from visa to MasterCard & many more companies & banks are also doing this, so maybe visa charges are too high & the market is voting with its feet.
