David Jones plans tender for cards partner

Retailer David Jones will next month announce a tender inviting banks and finance companies to bid to be part of its new credit card. Management at David Jones regards financial services as a core area of growth beyond 2008. The company already earns about one third of its profit from its store card, a business operated by DJs since the 1920s. Commonwealth Bank and Challenger are two financiers pitching to assist David Jones.