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Every regular David Jones Shopper who is considering a premium card should take a serious look at the American Express David Jones Platinum Credit Card. Owning one will make you feel like an A-lister, since cardholders are showered with bonus points and also receive a stellar ongoing points earning rate at DJs, while still earning points at a very attractive rate elsewhere. It all comes at a cost of course, but it’s a justifiable expense if you make use of the many privileges.
Choice of reward schemes
Different rewards schemes suit different lifestyles, so Amex and David Jones give you a choice.
If you are a committed Qantas Frequent Flyer you can opt to earn QFF points and redeem them for award flights and upgrades with Qantas and 50 partner airlines. Alternatively, you can use your points to buy merchandise and retail gift cards from the Qantas store, although this is not the most cost effective way to use them.
Not interested in Qantas points? No problem, because you can choose American Express Membership Rewards points instead. These points can be used for:
Attractive points earning rate, especially for David Jones customers
This is where this card earns its stripes as a dedicated David Jones card. It rewards shopping at David Jones with a spectacular four Amex points or three Qantas points per dollar, and the points rate for shopping at major supermarkets and petrol stations is also very attractive. Here are the details:
'Major supermarkets’ includes all the usual suspects (Bi-Lo, Coles, Fishers, Food For Less, Fresh Provisions, Harris Farm Markets, IGA, Macro Wholefoods, Safeway, Supabarn, Thomas Dux and Woolworths) and it’s the same story for petrol stations (Ampol, BP, Caltex Woolworths, Gull, Metro, Mobil, Peak, Safeway Petrol, Shell, United, Woolworths Petrol and 7 Eleven). Remember, though, that just because an outlet appears on this list it doesn’t guarantee that an Amex card will be accepted or that there will be no surcharge added.
Generous bonus points
As long as you don’t already have an Amex David Jones card, there’s a gold-plated welcome waiting for you in the form of 40,000 points or 30,000 QFF points, just for making three separate purchases (no specified minimum amount) outside of David Jones during the first month of holding the card. Presumably this is to remind you that it’s not just for using in David Jones, but everywhere. See below for an analysis of the dollar value of these points.
A-list loyalty perks
David Jones is figuratively rolling out the red carpet for its platinum cardmembers. The long list of benefits is designed to make you feel valued and keep coming back, shunning that other upmarket department store. It includes:
Complimentary insurance benefits
Since this is a platinum card, Amex is assuming the cardholder will have a platinum lifestyle, travelling the world and buying relatively expensive household goods and personal items. Accordingly, the card comes with four complimentary insurance policies to cover items and experiences purchased with the card:
Cost versus benefit
None of these advantages comes for free, so there is a substantial $295 p.a. annual fee. But you can add up to four supplementary cardholders free of charge, making sure that your family members help you to earn points. Fifth and subsequent supplementary cards will cost you $99 per year.
The interest rate on purchases of 20.74% p.a. is unlikely to deter people whose income level makes this card a worthwhile prospect, since they are most likely to avoid interest charges altogether by paying off their purchase balance on or before the due date. Cash advances and balance transfers are not available.
The monthly billing cycle effectively grants Up to 44 days on purchases each month. This is not as beneficial as other cards offering 55 days interest free, but in reality the difference will cost you less than $45 per year even if you run up a monthly balance of around $4,000 ( i.e. $4,000 @ 3% lost interest income for an extra 132 days).
So this card is likely to cost you around $340 ($295 + $45) a year. But if you were to spend about $8,000 a year at Coles or Woolworths, $3,000 a year on fuel for your car, $10,000 a year on clothing, gifts, household and personal items at David Jones, and $29,000 everywhere else (an annual total of $50,000) always using this card, you would collect 102,000 Membership Rewards points or 76,500 QFF points. That’s enough for four Qantas business class flights between Sydney and Melbourne, worth a total of around $$3,150, with 12,500 QFF points left over for purchasing about $75 worth of David Jones gift cards.
Add to this at least $500 for a comparable international travel insurance policy, and it becomes clear that, if you use it sensibly, this card could deliver savings of at least $3,725 per year for a cost of $340, without ascribing a value to any of the minor benefits. Furthermore, the 30,000 bonus QFF points in the first year are worth an additional $1,480 in business class flights.
Definitely a card for David Jones customers
To get the most out of this card, and justify its high annual fee, you really need to be a devoted fan of David Jones. Every dollar spent there earns cardholders four Amex points or 3 QFF points, which is hard to beat. When you add to this the fact that you will qualify for every perk available to DJ’s customers, holding this card really should make you feel like an A-lister who knows the value of a buck – a winning combination.
This is one of the best cards, especially if you love to shop as you get 4 points per $1 spent at David Jones, along with their other perks. It’s also great if you love to travel as you can get access to the American Express lounge twice a year for free.
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Free clothing alterations at David Jones stores
Valuation assumes 2 alterations per year worth $20 each.
Free delivery of goods purchased
Assumes delivery of goods purchased from David Jones stores 6 times a year at $12 each.
Free gift wrapping at David Jones stores
Valuation based on 1 gift purchased per month plus 10 over Christmas at David Jones. Gift wrapping service valued at $2 each.
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Refund cover if retailer refuses return
Most major retailers have 100% guaranteed returns, but not all do. Valuation assumes making a $100 claim once every 5 years.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 45 days.
|Total estimated value||$805|
|Net customer value||$510|