John Lewis Revising Loyalty Program with Higher Fees Implicit
New Shopping Twist for John Lewis Loyalty Cardholders
Get ready for a change in your John Lewis shopping experience! The retail giant is tweaking its loyalty scheme, and it's going to cost you more if you're shopping elsewhere.
Holders of the John Lewis Partnership Credit Card are in for a shift when they swipe their cards at non-John Lewis and Waitrose retailers starting August. The perks are being slashed as customers will soon earn points at a reduced rate.
Currently, cardholders earn a point for every £4 they spend at other stores. However, this is all set to change as customers will now have to spend £10 to earn the same number of points.
Despite this downside, loyal customers can look forward to bigger rewards! The retailer has announced that shoppers will earn triple points for every pound spent in John Lewis stores and double points for every pound spent online, for the next three years. This is great news for those who love shopping in John Lewis stores.
But don't rush to apply for that credit card just yet! Remember to check the Annual Percentage Rate (APR) before you sign up, as it can significantly impact the amount of interest you'll be charged if you don't pay off your balance in full each month. John Lewis charges customers 28.9% APR on its Partnership card.
It's important to use credit cards wisely and clear the full balance as soon as possible to avoid damaging your finances and credit score. And, if you have a poor credit record, you might not get the best rates, so it's essential to manage your expectations.
In August, John Lewis will update its rewards program to maintain its leading position in the market. Spending on purchases made elsewhere will now earn 0.1% of the value, starting from 1st August.
This isn't the first time John Lewis has cut rewards for spending elsewhere. In 2020, the retailer lowered the number of points customers could earn from purchases made at other stores. But, all hope isn't lost—cardholders can still enjoy many benefits, including discounted cinema tickets and certain perks, provided they meet the criteria.
If you're interested in signing up for the John Lewis Partnership Credit Card, be sure to undergo a credit check, and always make sure you understand the terms and conditions, including the APR and any other fees associated with the card.
So, there you have it—a fresh spin on shopping with John Lewis Loyalty cards! Use this information to make the most of your points and maximize your savings while enjoying your shopping experience.
[Sources: 1] JohnLewis.com [2] Telegraph.co.uk [3] MoneySavingExpert.com [4] MailOnline.co.uk
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John Lewis cardholders might find a shift in their rewards for purchases made at non-John Lewis and Waitrose retailers, as they will need to spend £10 to earn the same number of points starting August, compared to the current rate of spending £4. Yet, they can still look forward to better rewards in John Lewis stores and online, with triple points for each pound spent in-store and double points online for the next three years. When considering a John Lewis Partnership Credit Card, it's essential to review the Annual Percentage Rate (APR) and terms and conditions to prevent any potential negative impact on personal finance.
