LEE BOYCE: Bring back loyalty rewards

Another week, another Money Mail bag full of complaints about John Lewis credit cards.

Dozens and dozens of you have written to us in the past seven days, baffled at having to reapply for a card you’ve used for years, only to be told “Computer says no.”

A theme that runs through all your letters is bewilderment. Many of you cannot understand why you have been rejected and feel hurt.

And I totally get it. You shop loyally at John Lewis and Waitrose for years, put all your spending on the company’s credit cards (which it marketed to you as a loyalty rewards system, by the way), and pay the full balance every month without fail.

You consider having a John Lewis card a badge of honor, a nod to a brand you love. Then, seemingly for no rhyme or reason, you threw all that in your face.

It has not escaped my notice that many of the strange rejections in Money Mail’s mailbags involve customers over the age of 70. Surely a company like John Lewis wouldn’t turn someone down because of their age?

John Lewis vehemently denies any suggestion of ageism. It even says that the acceptance rate for retired clients is higher than for those who are still working.

I’m willing to take John Lewis’ word that this isn’t “age discrimination.” But I can’t help but wonder if the eligibility criteria used by its new credit card provider, NewDay, are somehow to blame.

Let’s not forget that the elderly inadvertently get the worst deals in many areas of our financial lives. It is not necessarily intentional. Take, for example, the savings rate. All the best offers are for customers who have internet access.

For younger generations this is not a piece of cake. But for a generation that doesn’t feel comfortable online, it often means they have to accept a worse return on their nest eggs.

Or take paid parking. Parking garage operators are increasingly popping out coin-operated machines and letting us use clunky mobile phone apps.

Some older readers have told me that the switch has kept them from going to town for shopping or meeting a friend.

I hope I’m wrong, but I wouldn’t be surprised if John Lewis’ credit card provider somehow – despite trying to be fair to everyone – accidentally turns away some older people for not being able to fit into his neat cubicles.

This wouldn’t matter much if we were dealing with an ordinary credit card being flogged to the masses.

But the people being dumped by John Lewis are existing customers. They want to continue using their cards after proving to be reliable borrowers. In other words, John Lewis is alienating some of his biggest fans.

It is a credit to the company that the company is listening to our concerns. It has reviewed many of the rejections we have submitted and is working hard to ensure that customers are treated fairly.

That’s all we ask. Of course, not every customer who applies for a financial product must be accepted.

But loyalty — and reliably paying our bills every month — should be central when credit card companies decide who to hire as a customer.

NS&I jealous

It’s safe to say I’m green with envy for those who have held index-linked certificates with National Savings and Investments. The accounts feel almost mythical as they have been out of stock for 11 years.

But while Britain’s biggest banks continue to give savers a rough deal, those who have been patient with certificates are now seeing interest raining down.

There are 345,000 savers and I’m sure many will be Money Mail readers. They usually pay the equivalent of the consumer price index plus 0.01 pc, for a period of two, three or five years.

I’d love to see them make a comeback, but that’s wishful thinking in the current high inflation environment. You can keep reinvesting your money and the interest in it, but you can’t add new money.

NS&I told me there’s about £17 billion in it with an average investment of £49,400.

Are you still holding them? I’d like to know how long you’ve had them and how much interest you put into them. . . and brims with jealousy.

l.boyce@dailymail.co.uk