Amex the winner of DJs card
After a lengthy selection process retailer David Jones has chosen American Express as its credit card partner. The existing receivables base of $400 million will be transferred to Amex in August and has said that it expects to increase this to between $1.2 billion and $1.6 billion "over time". Head of financial services at David Jones, Damian Eales, said that American Express had been chosen because of its experience in managing co-branded cards. Customers who already have a David Jones card will be able to continue using it but will be offered the option of switching to the new card. The David Jones Amex card will have an annual fee but also carries a rewards program where accrued points can be used to purchase David Jones gift vouchers.
Source: The Australian