John Lewis slashes points its credit card holders earn on purchases elsewhere

Consumers may feel undersold' from August when they will have to spend 10 instead of 4 to earn a point

John Lewis promises its shoppers are never knowingly undersold" but those with its Partnership credit card may feel short-changed after it slashes perks for general spending.

Points earned on purchases convert into gift vouchers to spend in John Lewis and its sister chain Waitrose, with each point equating to 1p.