John Lewis to re-launch Partnership Card with new partner

John Lewis has confirmed that it will be relaunching its Partnership Card with a new financial service partner this Summer.

Over the summer John Lewis has confirmed that it will enter a new partnership with the UK provider of consumer credit NewDay. Until then, the retailer's loyalty card will be provided by HSBC UK.

While no changes will be made to the reward offering, new applications to join the card will temporarily cease from the 9 May and re-start once the new partnership starts. Customers can continue to use their card and collect points as normal.

The Partnership Card was launched in 2004 and is the UK's most popular rewards credit cards, according to the retailer. The service allows customers to gain 1.25% cash back on every pound they spent at John Lewis or Waitrose, which they receive as points that go towards gift vouchers.

The relaunch also forms part of a wider plan to provide a range of financial products and services to customers. Last August the retailer launched its first investment products with digital wealth manager Nutmeg and over the course of the year will be investing more than £50 million to grow its financial services business.

Amir Goshtai, Director of John Lewis Financial Services said: “Our Partnership Card has been our flagship product for many years and is loved by so many of our customers. That’s why we’re investing in relaunching it with new digital services to help customers in the moments that matter.

John Hourican, CEO of NewDay, commented: “We’re excited to be partnering with John Lewis on the relaunch of their Partnership Card. NewDay has a track record of over 20 years of underwriting, and our proprietary credit decisioning capabilities allow us to responsibly say ‘yes’ to more customers, which will enable even more John Lewis customers to enjoy the much-loved Partnership Card rewards.”