David Jones steps up credit card plans

By yesterday's deadline, David Jones received offers from almost a dozen banks and financial service companies for a role in its general purpose credit card. A short-list is expected in March and by April David Jones will decide whether to develop and operate the card alone or in a partnership, if all goes to plan the card will be launched in the second half of next year. David Jones would benefit from reduced costs and by collecting more fees on customer transactions, higher receivables and interest charges on customer balances. About half of David Jones's existing store card customers are expected to switch to the general purpose card.