Myer (Store) Card Coming Soon

Discussion in 'Myer One' started by nagelixin, Oct 16, 2006.

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  1. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    Newbridge Capital are currently working on a new Myer Card. This card will be linked to the relaunched Myer One program.


    From November 13 each dollar spent will earn you 2 points.
    $1000 = 2000points = $20 voucher


    No news on who Newbridge have partnered with for this new card.


    I can only guess Flybuys will be phased out at Myer, and that the ColesMyer Card will not be accepted - for interest free, as they would want you to use the new Myer Card.
     

  2. oz_mark

    oz_mark Enthusiast

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    Will be interesting to see how they deal with existing cardholders going forward. Also wonder how GE will figure in the equation, as Myer had a long term contract with GE to provide credit cards.
     
  3. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    And if you are an existing Coles Myer card holder, would you have to go through the process fo a full credit (baycorp) enquiry???



    In a 'what if'.... I would of love to of seen an alternate path if Coles Myer did not sell ARFN (Australian Retial financial Network) to GE. Just look at how much the Credit Card is helping the bottom line at David Jones.
     
  4. JohnK

    JohnK Veteran Member

    Mar 22, 2005
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    There must be a little tit for tat going on at the moment. If what I heard the other day is correct it would appear Myer employees are still receiving the 5% ColesMyer staff discount and ColesMyer management would love to terminate this benefit ASAP.
     
  5. oz_mark

    oz_mark Enthusiast

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    There were certainly those with the old coles-myer group that expressed some regret that ARFN was sold off.
     
  6. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    The official launch of the new Myer Card is November 13. It will be backed by GE Money.
     
  7. oz_mark

    oz_mark Enthusiast

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    I think it is unfortunate that they seem (bu the pictures of the card in an advertisement) to have gone for a pure store card, rather than the dual card approach that was taken with the Source Card. David Jones has been looking toward this model as well, converting from a pure store card to a more generic card.

    I probably need to figure out if the Source Card has a future in my wallet, as I pretty much only use it for Interest Free offers at Myer (and it has been a while since that happened)
     

  8. David Jones' store-card is arguably the most profitable part of the business. Newbridge Captial would do worse than keeping a majority interest in any store-card business that they launch for Myer.

    As for the Source Mastercard, I can't imagine why anyone would want it if it's no longer useful for interest-free purchases as Myer.
     
  9. Pointburner

    Pointburner Junior Member

    Nov 13, 2006
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    I wouldn't be surprised if this is part 1 of the strategy, with a fully blown credit card to follow.

    The immediate benefit of the store card is for Myer one members, who will get a 50% boost to their points per transaction if they use the Myer card as the payment mechanism.
     
  10. Mal

    Mal Enthusiast

    Dec 25, 2004
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    Here is some of the blurb on the new card. I presume I'll receive a personalised invite for it (being a current MyerOne member), but don't think I'll take it up unless they "give" it to me without any paperwork etc. Not really anything special in my books:

     
  11. Tiki

    Tiki Member

    Jul 21, 2004
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    I just got a $25 gift card valid until Sept 2008. They sent it automatically, I didn't ask for it. I bought a laptop last Sept for $1500, gave my Flybuys card, let the salesman sign me up for the Myer One program (not a credit card, like Flybuys program) and I paid for it on my Amex Rewards Maximizer.

    This got me:
    1500 Myer One points
    600 Flybuys points
    2250 Amex points

    Not too shabby! :mrgreen:
     
  12. oz_mark

    oz_mark Enthusiast

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    My current Source card started life as a Myer card, and I will be not too happy if they make me go through a full blown application to go back to one. (I do seem to recall that the old Myer Card was gold in colour) But as I have said elsewhere, my primary reason for having these cards was for the interest free offers.
     
  13. oz_mark

    oz_mark Enthusiast

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    Myer One will be the rewards program going forward at Myer. And just to complicate things the earn/burn rates on Myer One changed today.
     
  14. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    I think it is a bit lame that for us who had:

    1) The original black and white Myer Card
    2) Then the Gold Myer Card
    3) Then the Red Coles Myer CArd
    4) Then the Gold Coles Myer Source Mastercard

    Have to apply for the card, and go through the ridiculous process of filling out an application form (no online option), or go in store.:confused:


    True Myer is now a private company, but I will not be applying for this card...
     
  15. oz_mark

    oz_mark Enthusiast

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    While I skipped the red card part, I feared that this may actually be the case. Surely GE would have a way to do something about this.
     
  16. sams

    sams Newbie

    Dec 1, 2006
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    I have a nice shiny Myer Card in my wallet right now - sadly it won't come out to play as much as I would have liked.

    There is a $25 "special promotion fee" which will be charged on interest free purchases, which sort of defeats the purpose of interest free...

    (This is under the "Fees and Charges" section of the "Myer Card Financial Table")
     
  17. oz_mark

    oz_mark Enthusiast

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    These fees have become quite common in interest free promotions over the last period of time. The other is the monthly service fee (not sure whether Myer Card has this)
     
  18. sams

    sams Newbie

    Dec 1, 2006
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    It's in the Financial Table, but their call centre told me there is a letter going out saying the fee has been taken away.
     
  19. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    I am sure the Myer Card will.

    All other GE cards have this fee.

    GO Mastercard, Coles Myer Source, GE Creditline etc all have the $25 fee.

    David Jones also introduced this as a way of raising further revenue. Over 1/3rd of DJ's income comes from its store card and other credit facilities - such as David Jones Credit Reserve.
     
  20. nagelixin

    nagelixin Junior Member

    Oct 12, 2006
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    Oh also 31/1/2007 is the last day for Fly Buys and Interest Free on your Source Card at Myer.
     
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