No Card Purchase Fee ($5) on The Coles Gift MasterCard. Buy a $X Prepaid MC for Face Value. Useful?

neil on 12/11/2015 - 19:52
Last edited 13/11/2015 - 01:15 by 1 other user

I got this in my Flybuys email today:

flybuys

Coles Prepaid Cards

So basically you can buy $x amount Coles Mastercard without the purchase fee ($5) using code CGM5. No other fees for normal usage and 2 years expiry. You can use the card anywhere that takes Mastercard.

Is there any advantage to buying these?

Only things I can think of are :

  • bypassing Tigerair fees
  • Using the card as a standalone card for certain purchases.
  • Collecting points when using your reward cards. Perhaps good when you need some points quickly? (Note: They don't take AMEX)
  • Christmas gift

Anything else they could be useful for?

Financial Gift Card

Related Stores

Coles Financial Services
Coles Financial Services

Comments

  • [Deactivated] on 12/11/2015 - 20:56

    The catches will no doubt be hiding in the card's Fees and Charges Manual somewhere online…

  • awoff1 on 12/11/2015 - 21:10
    -1

    From http://financialservices.coles.com.au/prepaid-cards/about-ou…
    fees
    edit: ah, still mod only for embedded images :P

    • [Deactivated] on 12/11/2015 - 21:14

      The link is for the Coles Reloadable Card, which is different from the Coles Prepaid Gift Card (as in OP) in that the latter cannot be reloaded and does not have a chip. The CRC also has some fees which the CGC doesn't, such as card closure fee.

      Further, the CRC has an opening fee of $10.
      The CGC has an opening fee of $0 (with code), but may be upgraded to the CRC for $5 extra.

      Thus, with this deal you could get yourself a reloadable MasterCard for $5.00.

      • awoff1 on 12/11/2015 - 21:16

        Oops my bad, was too excited to try and embedded an image now that I know how it's done.

        • [Deactivated] on 13/11/2015 - 12:07
          +1

          You'll need to purchase the physical Prepaid Card first. Once you have purchased, received and activated the physical Prepaid Card, you'll be able to upgrade to the Reloadable Card for a subsequent $5 payment.

        • Lucky13 on 18/11/2015 - 09:59

          @KaptnKaos: Thanks, was thinking of getting the CRC but didnt want to pay the $10. Got to get those Coles points. So now if I spend $4000 at Coles I can get $10 off, bargain!

  • PJC on 13/11/2015 - 00:59

    They seem quite good as gifts, but for me the dealbreaker is found deep within the FAQ section:-

    "Yes, both cards expire after 12 months. Your Coles Gift MasterCard's expiry is printed on the front on your card … When your card expires, you forfeit any unused value and this cannot be refunded."

    • Lucky13 on 18/11/2015 - 10:05

      So does the Coles Reloadable Card only have a 12 month validity and then you have to buy another one for $10

      Edit: Ok yeah I thought I saw 2 yrs for the CRC and just checked CRC is valid for 2 yrs and if you request a replacement card before the due by date you dont lose the money you have on it. Doesnt say how much a replacement card costs so might be another $10 not sure

  • snappy1234 on 13/11/2015 - 07:57

    What payments methods are there (i see no Amex allowed…but do they take MC & Visa CC payments ?
    or is it only from savings account ?

    • neil on 13/11/2015 - 09:24

      Yeah, they take Visa & Mastercard. No other way to pay.

      • snappy1234 on 13/11/2015 - 09:30

        @neil Thanks !

        • nateflight on 21/12/2015 - 16:54

          And do you know if it's treated as a purchase rather than a cash advance?

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