[oz_mark]

Just did an interesting survey where I was asked for thoughts on a proposed David Jones Credit Card, which included a rewards scheme. I am guessing that this is a reaction to the Myer One program. Basically would mean replacing a David Jones store card with a Visa Card (although was asked about Mastercard and American Express)

Basically the features looked much the same as the current DJ's card (interest free, shareholder discount, instant rewards etc) with the most notable change being to a Visa, and the addition of a rewards scheme. In the proposed rewards scheme 12500 points got you a $100 voucher, Got one point per dollar most places, but 2 or 3 points per dollar at DJ's, saks 5th Avenue, Harrods, Selfridges, Neiman Marcus and Galerie Layafette. (2 points per dollar on the gold option and 3 points per dollar on the platinum option).

No rewards cap and no expiry.

A few extra bits with the platinum card over the gold card (concierge, travel assistance)

Looks like they have come a long way through the planning of the card. No idea when/if it will ever see the light of day.

[JohnK]

Everyone and their dog is getting in on the act

Any mention of a partnership with a ffp

Silly question, if you already have Visa/Mastercard with another provider can you get another Visa/Mastercard with a different provider. Say you have a CBA Visa can you keep this and also get DJ's Visa

[Mal]

The only restriction on how many Visas, MC's or Amexs you have is set by the issuing bank.

You can get multiple cards from multiple issuers. However some banks limit you to one of each particular type of their cards. Same goes for Amex. You can only have one Amex card (issued by Amex) in each class of card (credit card, business card, charge card etc).

[oz_mark]

Originally Posted by JohnK

Any mention of a partnership with a ffp

Silly question, if you already have Visa/Mastercard with another provider can you get another Visa/Mastercard with a different provider. Say you have a CBA Visa can you keep this and also get DJ's Visa

As far as I can tell, you can have any reward you like, as long as it was a DJ's voucher.

As for the Visa card numbers, as Mal says, you can get multiple cards from multiple users.

[JohnK]

Originally Posted by oz_mark

As for the Visa card numbers, as Mal says, you can get multiple cards from multiple users.

Thanks Oz_Mark and Mal.

As I already have a CBA Visa I haven't applied for DJ Visa card yet but I have applied for ANZ Visa for the 16,000 points and low rate balance transfer.

[oz_mark]

Originally Posted by JohnK

Thanks Oz_Mark and Mal.

As I already have a CBA Visa I haven't applied for DJ Visa card yet but I have applied for ANZ Visa for the 16,000 points and low rate balance transfer.

I doubt you could apply for a DJ visa card yet. The survey was about proposed cards and what I thought of the benefits. I am sure they will release something in the new year. I guess it all depends on the feedback they get

[mbeder]

Recent news about the planned David Jones credit card launch (July 2007)

"David Jones has narrowed the field for a possible partner for its new branded credit card to Citigroup and American Express.
After months of global research and whittling down the original group of 11 candidates - which included local banks, the retailer will now carry out due diligence on both potential issue partners.
David Jones chief executive Mark McInnes said international banks were more suitable as partners than local banks.
"Australian banks responded strongly and demonstrated significant capability in the domestic credit card market,'' Mr McInnes said.
"International banks, although not as established locally, demonstrated strength managing store-branded credit cards globally.
"Our view was that in having this unique global experience, together with the ability to build on existing local capability, was a key deciding factor.''
UBS retail analyst Michael Peet said the credit card business could be valued at around 20 per cent of earnings before interest and tax (EBIT).
"I think broadly speaking it's about 20 per cent of their market cap, and arguably you would put different multiples on different parts of the earnings stream ... but it's trading roughly at the bank multiple, or even higher,'' he said.
"If the stock's value is at $2.5 billion market cap, 20 per cent is $500 million.
"That is one way to look at (the value of the credit card business).''
Mr Peet said there could be more earnings growth potential in the credit card stream, so this figure could move higher.
The upmarket retailer is also running a process to decide on a scheme partner, either Mastercard or Visa, should Citigroup be successful.
Holders of the new card will be able to use it both within and outside David Jones stores.
Mr Peet said this new credit card option could boost the retailer's customer base.
"I would think at this point, the first step is to be exposing DJs to a higher spend in the existing customer base,'' Mr Peet said.
"That is, if they are going to access an income stream from their existing customers spending money outside the store, then it certainly could attract more customers to the card as well because it has further reach.''
The high-end retailer said an agreement with the successful issue partner is expected in October or November, with the new card to be launched between August and November 2008."

[PaulZ]

DJ's have finally announced that they have chosen AMEX as their general purpose credit card partner.

We will have to wait for further details.

I am interested to see if the shareholder rewards program is retained in some shape or form.

PaulZ

You can see the announcement at
http://www.asx.com.au/asx/statistics...idsID=00813623

[simongr]

Hmm - I would have preferred a DJs Visa card. I currently have a DJ store card and it has some great features (note I generally pay the balance in full every month and pay no interest):

- Christmas Option - defer payment of all a purchases from about 1 Oct to 25 Feb
- Interest free periods - no nonsense simple interest free (account fee of $2.95 per month) with no contracts - have used on many occasions
- Immediate discounts/rewards - quite a few nice discounts had

Given that they are transferring receivables to Amex my concern is that the above features might disappear. I wouldnt have minded if it had been a DJ branded visa as I currently have a vanilla visa with no frills so some frills would have been good.

I shall have to wait and see what happens...

[ozmerish]

Interesting DJ went with Amex.

Wonder how cardholders will react when surcharged for using an Amex at certain establishments.