John Lewis credit card changes are on the way – and many customers won’t be pleased. From 1st August, cardholders will have to spend significantly more to earn points outside the retail giant’s own stores.
John Lewis Cuts Credit Card Rewards in Major Shake-Up
Under the revised scheme, spending on purchases outside John Lewis or Waitrose will now only earn one point for every £10 spent. Previously, that reward threshold stood at £4 – a sharp reduction for loyal shoppers.
The retailer is preserving its current reward system for spending within its own brands. Shoppers will continue to earn five points for every £4 spent at John Lewis and Waitrose, equating to a return of 1.25%. For example, a £100 spend in-store still nets £1.25 in points.
A spokesperson from John Lewis Money explained: “Our rewards are being updated to help maintain our market-leading reward for spending at John Lewis and Waitrose, where customers earn 1.25 per cent back on every pound spent. Spending on purchases made elsewhere will earn 0.1 per cent from 1st August.”
Triple Points Bonus Offered in August
To ease the transition, the retailer is offering a sweetener. Cardholders will receive triple points on spending in John Lewis department stores and online throughout August, for the next three years.
“These changes enable us to invest in the rewards that are most valued by our customers – alongside a new bonus to help customers earn additional points throughout August,” the spokesperson added.
Ongoing Incentives Still Available
Despite the reduced points elsewhere, the company stressed that its credit card remains competitive. The card will still feature:
- Double-points promotions
- Exclusive competitions
- Partner offers and discounts
John Lewis stated it is “adding more for you all the time” and said there are “many other advantages” to having its credit card.
This isn’t the first time John Lewis credit card changes have impacted its users. In 2020, the retailer had already halved the point earnings on non-store spending from one point per £2 to one per £4.
Now, the latest adjustment to one point per £10 aligns more closely with rivals such as Sainsbury’s Nectar Credit Card and Tesco Clubcard Credit Card, both of which have scaled back perks in recent years.
Key Takeaway
- From August, cardholders earn just 1 point per £10 spent outside John Lewis/Waitrose.
- Spending within John Lewis/Waitrose still earns 5 points per £4.
- Triple points promotion runs every August for the next 3 years.
- Cuts mirror changes by other major UK retailers.
