The first credit cards have been revealed as part of the new partnership between iconic Australian retailer David Jones and leading Australian consumer lender Latitude Financial.
After terminating his contract with American Express in 2023, David Jones has signed an exclusive 10-year agreement with Latitude Financial. Latitude currently partners with leading brands such as JB HiFi, Harvey Norman, Samsung and Apple.
Today, the first credit cards issued by Latitude were launched. Compared side by side, the new David Jones Premier and David Jones Prestige cards include features similar to the now-discontinued American Express cards.
Both cards earn points on everyday spending and include exclusive invitations to events and previews, discounts on purchases, and free delivery for online orders. David Jones also offers travel discounts with Expedia, Wotif and booking.com when you book with your card.
Plus, the David Jones Prestige Credit Card includes free lounge passes and comprehensive travel insurance.
Customers will notice that the biggest change is to the rewards program; rather than opting for Amex Membership Rewards or Qantas Points, cardholders will earn David Jones Points.
These points can be redeemed for David Jones gift cards, credit or purchases through the online David Jones points hub.
While the terms and conditions mention transferring points to airline loyalty programs, there is no information confirming that this feature is currently available.
As part of the deal, Latitude will acquire David Jones’ existing credit card portfolio, including those held by American Express.
Cardholders with an active David Jones American Express card will upgrade to a new David Jones credit card and the balance will be transferred to Latitude. Loyalty points will also carry over to the new account.
David Jones said it would communicate with its customers throughout the transition, which is expected to be completed by July 2024.
Out of all the credit lenders on offer, David Jones says they chose Latitude because of its “modern technology platform,” which can provide a better customer experience.
“Our financial services program is a critical pillar of our customer service offering,” said Scott Fyfe, CEO of David Jones. “We partnered with Latitude because we share a common vision: to provide a best-in-class digital map offering. »
Latitude serves more than 2.8 million customers in Australia and New Zealand and has a partner network of more than 5,500 stores.
| Premiere of David Jones | David Jones Prestige | |
|---|---|---|
| David Jones Points Earned | Earn 2 points per $1 at David Jones | 4 points per $1 at David Jones |
| Earn 3 points per dollar at participating supermarkets and gas stations | 3 points per dollar at participating supermarkets and gas stations | |
| Earn 1 point per $1 everywhere else | 1 point per $1 everywhere else | |
| Annual contribution | $99 | $295 |
| Additional cardholder | $24 | none |
| Interest rate | 23.99% | 23.99% |
I’ll be diving deeper into both of these cards in the coming weeks, but if you’re interested in bonus points, you can check out my roundup of rewards credit cards and frequent flyer credit cards.