David Jones expects the improvement in earnings from its new American Express co-branded credit card to largely match, but not much exceed, the pattern of earnings growth from this segment in recent years.The 2009 forecast for this is thus a little different from the claims of a "company transforming transaction" that was one key claim in the department store's announcement of the selection of Amex as a partner back in February.Financial statements for David Jones for the 52 weeks to 28 July 2008 show that earnings before interest and tax from financial services increased six per cent to $38.4 million. The financial services EBIT increased seven per cent to $20.0 million over the second half.Earnings from DJ's store card have increased 39 per cent over four years. DJs said it expected EBIT from financial services to rise 7.5 per cent in 2009.Assets of the financial services segment, that is, card receivables, fell two per cent to $383 million over the department store's financial year.Growth in balances on all credit cards increased by around 10 per cent in the year to July 2008, according to RBA data.DJs transferred receivables of the existing store card portfolio to American Express from the beginning of August.Amex and DJs are ready to roll on the new co-branded card, which will be in the market by the middle of next week if not earlier, given the timing of industry briefings and public relations events over the next week.David Jones, meanwhile, said it was budgeting for no or even negative growth over the first three quarters of its financial year.In one measure of the continued trend by the biggest businesses to push working capital requirements onto their suppliers, David Jones said it revised payment terms for non-merchandise suppliers to between 60 and 70 days, up from 35 days now.