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- John Lewis partnership credit card offering double points this Christmas period
- Customers to receive £30 voucher for spending £250 at John Lewis or Waitrose
- Reward credit cards waning following the introduction of EU interchange fee cap
The John Lewis partnership rewards credit card has boosted reward points for festive season shopping.
All the new customers signing up for the John Lewis & Waitrose partnership credit card will earn double points. Equally, they will have a chance of securing a rare £30 reward voucher from sister cards through the “partnership” credit card.
John Lewis partnership credit cards offering reward points
The John Lewis reward credit card allows customers to earn a point on every penny they spend. You get a chance to make a point for every £1 spent at John Lewis & Partners or Waitrose & Partners. Equally, if you pay elsewhere, you have a chance of earning one point on spending £2. The most exciting part is that the points are redeemable and for 500 points you will receive £5 in vouchers. Spend it at John Lewis or Waitrose to receive this thrice a year.
You get a chance to earn free £30 with the new partnership credit card for regular credit card spending. Customers applying for the new partnership credit card before February 29, 2020, will be eligible to earn double points at John Lewis and Waitrose for three months. However, you will not qualify to earn double points if you spend elsewhere.
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Get £30 voucher for spending £250 in three months
If you will shop at John Lewis or Waitrose and spend £250 in the first 90 days, you will be eligible for a £30 bonus voucher. You will receive 3,000 points equivalent to £30 to spend at John Lewis or Waitrose, and it will come in February. The point rewards are in addition to the standard points you get on regular credit card spending.
Also Read: Can I Get A Prepaid Card With Bad Credit?
If you plan to spend around £250 or more during the festive season at John Lewis or Waitrose, this reward could be worthwhile. However, although these kinds of deals are rare, it is no excuse to overspend. It is appropriate to do normal spending and then pay the amount in full at the end of the month. Interestingly you can cancel the card once you receive freebies. Equally, there is a 0% interest on purchases in the first nine months, but you should be aware other cards are offering more extended 0% interest period.
Also Read: Direct Loan Lenders in United Kingdom
Changes in regulation making it hard for reward credit cards
In recent years reward, credit cards have somehow been waning with several providers scaling back or closing deals following tighter regulations. Providers have cited the introduction of the EU interchange feed cap in 2015 as the reason deals are drying up.
It limited the charges providers such as MasterCard and Visa could levies retailers for accepting debit and credit card transactions. Previously they could pass the fees to customers.
Rebecca White is chief editor at CreditRaters.com. Rebecca has an extensive amount of knowledge on financial subjects including short-term loans & debt consolidation in the UK and USA. Rebecca has wrote for many publishers such as Debt Secret, My Money, VL and more.