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Smart Money

David Jones Launches Mastercard in Partnership with Latitude Financial

Last updated

Pauline Hatch      

The first credit cards have been revealed under the new partnership between iconic Australian retailer David Jones and Australia’s leading consumer lender Latitude Financial.

After terminating its contract with American Express in 2023, David Jones signed an exclusive 10-year agreement with Latitude Financial. Latitude currently partners with prominent brands such as JB HiFi, Harvey Norman, Samsung and Apple.

Now, the first Latitude-issued credit cards have been released. Compared side-by-side, the new David Jones Premier and David Jones Prestige cards include similar features to the now-discontinued American Express cards.

Both cards earn points on everyday spending and include exclusive invitations to events and previews, shopping discounts and free delivery for online orders. David Jones is also offering travel discounts with Expedia, Wotif and booking.com when you book using your card.

In addition, the David Jones Prestige credit card includes complimentary lounge passes and comprehensive travel insurance.

Customers will notice the biggest change is 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 via the online David Jones points hub.

While the terms and conditions mention transferring points to airline frequent flyer programs, no information confirms that this feature is currently available.

As part of the contract, 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 transition onto a new David Jones credit card, and the balance transferred to Latitude. Membership rewards points will also be carried over to the new account.

David Jones has stated it will 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 it chose Latitude because of its “modern technology platform”, which can deliver a better customer experience.

“Our Financial Services program is a core pillar of our service offering to customers,” said Scott Fyfe, CEO of David Jones. “We have partnered with Latitude because we share a common vision to deliver a best-in-class, digital-first card offering.”

Latitude serves more than 2.8 million customers in Australia and New Zealand and has a partner network of over 5,500 stores.

David Jones Premiere 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 $1 at participating supermarkets and petrol stations 3 points per $1 at participating supermarkets & petrol stations
Earn 1 point per $1 everywhere else 1 point per $1 everywhere else
Annual fee $99 $295
Extra cardholder $24 none
Interest rate 23.99% 23.99%

 

I’ll take a deep dive into these two cards in the next few weeks, but if you’re keen on bonus points then you can check out my round-up of rewards credit cards and frequent flyer credit cards.

Pauline

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger.

Recently Asked Questions

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Ask Pauline a Question

Hi, I’m a personal finance expert who loves to help you out! I’ll answer your question within a business day. Pinky swear.

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8 comments (showing the latest 10 Q&As)

Dejan

Dejan

9 June 2024
Will this card offer interest free plans?
    Pauline - CreditCard.com.au

    Pauline

    12 June 2024
    Hi Dejan, I tried to contact DJ’s about your question but couldn’t get through. There isn’t any information about interest-free plans now that the cards are Latitude and not Amex, so it looks like it may not be an option. However, the DJ’s site states that they’ll be releasing more information on the card in July 2024. Thanks Dejan.
Peter Lang

Peter Lang

2 June 2024
Will the $24 additional card fee be charged on the prestige card & do you think the $295 annual fee is worth it.?
    Pauline - CreditCard.com.au

    Pauline

    7 June 2024
    Hi Peter! There's no additional cardholder fee on the Prestige card. As to whether it's worth it...I would start by calculating if you would earn enough points with the partnering retailers to outweigh the annual fee. Then look at the benefits to see if you would use them. It's a good idea to compare to other rewards cards too, in case you find you'd prefer frequent flyer points or different bank points instead. I hope that helps!
Debbie Ungerer

Debbie Ungerer

30 May 2024
Will I be able to continue having supplementary cards associated to my new Latitude credit card?
    Pauline - CreditCard.com.au

    Pauline

    31 May 2024
    Hi Debbie, it appears so. The Premiere card looks like it’s the only one that has an additional cardholder fee of $24. The others say “Not applicable” so you might not be able to add them in.
Dee

Dee

22 May 2024
Do you have to do internet banking to pay the credit card?
    Pauline - CreditCard.com.au

    Pauline

    23 May 2024
    Hi Dee, the David Jones card features an app with the credit provider, Latitude. You can also manage your account via the web interface too.

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