Shopper's delight? David Jones' new credit card reviewed

Credit cards issued by retailers look like being the next big trend. Woolworths released its Everyday Money card in August and now David Jones has done the same — teaming up with American Express.

The David Jones American Express card charges a hefty 20.49 percent pa interest and a $99 annual fee. There’s a $29 fee for supplementary cards.

It offers customers many of the same benefits of the existing David Jones store card, such as up to five years interest-free on certain promotions, a Christmas deferred payment option and complimentary gift wrapping (in DJs stores). Unlike the existing David Jones store card, this new card can be used anywhere American Express is accepted — it is not limited to purchases at David Jones.

The emphasis on this card is on the rewards, but your options are limited. The points can either be used towards David Jones gift cards (13,300 points gets you a $100 gift card) or for travel. You can redeem $100 worth of travel for 15,000 points. Customers earn two points for every dollar spent in DJs and 1.5 points for every dollar spent at other stores that accept Amex.

There’s also a points-plus pay option for travel which lets customers combine their gift points plus a payment on the David Jones American Express card to pay for travel.

As a special promotional offer the rewards points are doubled in the first six months. Customers will also be given a $50 David Jones gift card the first time they use their card outside DJs

Money verdict

As with any high-rate credit card, if you don’t pay off your balance in full each month then steer clear. You should opt for a card with a low rate. If you do pay off your credit card debt each month it might be worth exploring.

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