David Jones American Express Platinum card - by end2012

[Deleted member 18152]

David Jones announced today the launch of the Platinum DJ's American Express card to "expand our portfolio of cards, targeting the premium customer segment who values rich rewards and unique benefits". "Platinum card segment is attractive with higher spend and balances as customers shift the card to front of wallet." "Focus on customer insurances to leverage the combined card base; travel, personal accident & health cover, secure ID".


Their card business was severely limited without a Platinum option. Their customer base already had established account with more rewarding providers. This move makes so much sense. I say this as someone who used to market this card.

 

[here2go]

Platinum card have higher interchange fees and allow you to charge more to the client. Of course DJs are chasing this! They want everybody to be Platinum!

 

[yo yo ma]

I'm surprised they are releasing a new card after today's profit down grade. They claim one of the reasons is because of poor previous management that front-ended their credit card deals with AMEX. Maybe this had already planned to be released.

Zahra paints himself as a victim of three issues that are outside his control. The first is the soft retail environment, the second is the internet and the structural changes this entails and the third is the legacy left to him by his predecessor, Mark McInnes.

All these are reasonable to a point. If Zahra is correct that he was handed the keys to the department store chain with absolutely no online strategy and no IT systems to house one, it can be argued he has taken too long to get this off the ground.

He is clearly correct that retail is challenging with pay packets being parked in savings accounts rather than cash registers. But Myer’s result last week demonstrates that David Jones’ biggest competitor is not suffering to the same extent.

Zahra is forecasting full-year net profit will be down between 35 and 40 per cent. Myer is predicting its full-year profit will be off 10 per cent.
Zahra explains the disparity between the two by saying David Jones' customers tend to be from a higher socio-economic background, such as financial services employees, who are currently feeling the pinch.

David Jones would argue that part of the McInnes legacy was the credit card deal done with American Express - the returns from which were front-loaded for the first five years. Zahra has had to confirm this morning that when the credit card business stands on its own two feet in 2014 the earnings contribution will halve.

David Jones boss Zahra running out of excuses​

 

[scaredeycat]

Looks like the travel insurance has become worthless, so can't see anyone signing up expecting that benefit any more.

 

[deluxeflyer]

Full details of the new David Jones Platinum Amex card will be available from some time in September.

As most would already know, the biggest enhancement is points transfers to QFF.

Points earning structure is:

4 points on David Jones spend
3 points on petrol and groceries
1 point everywhere else.

Points transfer ratios to FF programs remain the same.
No word on the annual fee but it will be "competitive".

Whilst still not stellar, it is a step in the right direction.
If you are a big shopper at David Jones, and use QF a lot, this would be the card for you:
Each dollar at DJ gets you 2 QF points.

 

[Foreigner]

The reward points in DJ account is worth half of the usual Amex reward points. I'm not waiting for the platinum card. I'm canceling my co-branded card.

 

[Moopere]

I've not been a big fan of the previous David Jones / Amex offering, see even recent posts in another thread about this. However, 4 points/$ at DJ, converted to most airlines is going to end up at 2FF / $ which is nice, 3 DJ points/$ for fuel will still be 1.5FF points /$, again, thats a competitive conversion. The "1 point everywhere else" is pointless, pun intended, at 0.5FF/$ (like a lot of co-branded Amex/ Master/Visa cards) so you'd only use the card to buy DJ goods and fuel.

If the card came essentially free, or very low dollar annual (20-30-40-50$) then it may be another useful card in the armoury of the FF gamer

 

[RWJ777]

I stopped shopping at DJs when they did away with their old charge card and the complimentary gift wrapping it provided. Used to be a terrific service but the store is now so Myer that the withdrawal of the one remaining benefit in the old now defunct charge card justifies me avoiding the store now. The only thing I go for now is the food hall in Sydney which is still terrific. Every time I step in that store now, I half expect to see a rotating red lite advertising a red light special; the end of quite a retailing tradition in Sydney town.

 

[oz_mark]

I stopped shopping at DJs when they did away with their old charge card and the complimentary gift wrapping it provided. Used to be a terrific service

I pretty much stopped when the shareholder discount went away.....

 

[Platinum A332]

Rumour has it the fee will be in the $250-300 range, so it will be priced in line with other Platinum AMEX on the market.

If you have been in the food prep and storage areas, it might change your view on the Food Hall (!!)

 

[Moopere]

Rumour has it the fee will be in the $250-300 range, so it will be priced in line with other Platinum AMEX on the market.

Yes, I figured this sort of range was likely. In which case one would have to want to do a heck-of-a-lot of shopping at DJ's to break even on the card cost.

 

[Cruiser Elite]

Rumour has it the fee will be in the $250-300 range, so it will be priced in line with other Platinum AMEX on the market.

What am I missing here please guys.

This card is currently advertised with up to 15K bonus pts if you apply online - annual fee $99 - is there a new offer imminent?

 

[oz_mark]

Yes, I figured this sort of range was likely. In which case one would have to want to do a heck-of-a-lot of shopping at DJ's to break even on the card cost.

It would want to be coming with a free flight or something to make it competitive with the other Amex cards :shock:

What am I missing here please guys.

This card is currently advertised with up to 15K bonus pts if you apply online - annual fee $99 - is there a new offer imminent?

New card, that has a distinct platinum colour.

 

[Moopere]

What am I missing here please guys.

This card is currently advertised with up to 15K bonus pts if you apply online - annual fee $99 - is there a new offer imminent?

Yes: http://www.davidjones.com.au/images...Releases/2012/ASX-Release-QFF-Loyalty-Program


The arcitle is mainily about the introduction of a QFF redemption, but they also drop the idea that a new Platinum card offer is coming. This is also mentioned in their "strategic direction" release: http://www.google.com.au/url?sa=t&r...hcfnogcCA&sig2=KCzUHV9Jgq_klZKmkoGLNg&cad=rja

 

[Moopere]

It would want to be coming with a free flight or something to make it competitive with the other Amex cards

Yes, I agree, but I find it pretty doubtful there will be much of interest past the high points earn for DJ shopping + petrol.

A lot of FF chasers will already be covered on petrol with some form of 1.5:1 or greater earn (Plat Edge or other Amex, Citi product, etc), which leaves a 0.5p/$ spent bonus for using this card but only on DJ spend (given one can already get 1.5:1 and standard MR amex conversion to say Velocity is 1:1)... If the card comes in at $300 and has no other measurable bennies attached then it would take me $20,000 of DJ spend per annum just to break even.

 

[Cruiser Elite]

Ah ha I see now thanks Moopere - I apologise for my simplicity - was going to apply for the existing card to get the bonus but might just wait and see what new offer might be forthcoming.

 

[nanks85]

I stopped shopping at DJs when they did away with their old charge card and the complimentary gift wrapping it provided. Used to be a terrific service but the store is now so Myer that the withdrawal of the one remaining benefit in the old now defunct charge card justifies me avoiding the store now. The only thing I go for now is the food hall in Sydney which is still terrific. Every time I step in that store now, I half expect to see a rotating red lite advertising a red light special; the end of quite a retailing tradition in Sydney town.

David Jones still do provide a stand alone store card for free. They just don't spruk it like the amex card. The interest rate is higher than the amex card too. It's really only good for a interest free period purchase. They still do the complimentary gift wrapping too for store/amex card holders.

 

[nanks85]

Yes, I figured this sort of range was likely. In which case one would have to want to do a heck-of-a-lot of shopping at DJ's to break even on the card cost.

I can confirm the new card will be $300 a year. 1st September is the rumour date it will be released.

 

[Princess Fiona]

David Jones still do provide a stand alone store card for free. They just don't spruk it like the amex card. The interest rate is higher than the amex card too. It's really only good for a interest free period purchase. They still do the complimentary gift wrapping too for store/amex card holders.

Was going to post exactly the same thing.
I have kept my old DJ's charge card for this reason, also the shopping evenings and card holder discounts. I was waiting to see what the QFF offering was going to be before upgrading it to the Amex.
I spend a fortune at DJ's and a large fortune on groceries but even I will have to do the maths at a $300 annual fee

 

[Cruiser Elite]

Was actually in DJs Southland this morning - Cruiserette spend $330 odd on some war paint - told her about maybe getting bonus pts for DJ Amex sign on + 2 pts every $ she spends - bring it on was the response.

What intrigues me though - 3pts/$1 at servos and supermarkets yet 2pts/$1 in DJs own stores - how does that add up. I would have thought home branded card would/should have highest pts earn in DJs own stores?