Credit card on the cards at John Lewis

John Lewis Partnership is likely to consider the launch of an own-brand credit card next year.

The retailer has drafted in HFC Bank to take over administration of the John Lewis, Peter Jones and Waitrose store cards, as well as responsibility for financing credit to customers. Next year, a 'new card offering' will be introduced and a credit card is thought to be at the top of the list for consideration.

The John Lewis Account Card already has more than 1.8 million subscribers, but usage has dwindled as consumers concentrate spending on a single credit card.

JLP development director Charlie Mayfield said the store card remains 'a core part of our retail offering' and the HFC tie-up would enable the partnership to develop the offer.

All back-office administration functions relating to the accounts business are being transferred to HFC's Birmingham office, eliminating 130 full-time posts. The affected partners are being consulted and JLP will attempt to absorb personnel where possible.