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Coles No Annual Fee Mastercard - Get 20,000 Bonus Flybuys Points

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Coles No Annual Fee Mastercard - Get 20,000 Bonus Flybuys Points
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jackofspade on 21/07/2016 - 17:09 financialservices.coles.com.au (3222 clicks)
Last edited 21/07/2016 - 21:29
promo3

Get 20,000 Flybuys Bonus Points (worth $100) when you apply and are approved for a Coles No Annual Fee MasterCard by 27 August 2016 and make a purchase with 30 days.

Simply enter the promotional code 'promo3' when you apply at coles.com.au/creditcards

New customers only. 20,000 Bonus Points will be credited to the Flybuys account linked to your credit card within 2 weeks of the first purchase.

Minimum Credit Limit $1000.

Who can apply
✓ Over 18 years old
✓ Earn over $25,000
✓ Have the right to work in Australia

Here's the leaflet: https://files.ozbargain.com.au/upload/24137/41117/img_201607…

Financial Credit Card

Related Stores

Coles Financial Services
Coles Financial Services

closed Comments

  • superforever on 21/07/2016 - 17:12
    +1

    Can I decide how much credit limit I want? I only want to use it for online purchase.

    • ozmu on 21/07/2016 - 17:15

      Same. I too want a min credit limit.

    • WhyAmICommenting on 21/07/2016 - 20:42

      Can change after it is issued normally

  • fruit on 21/07/2016 - 17:25

    How much is 20,000 points worth?

    • hamza23 on 21/07/2016 - 17:35
      +9

      20,000 points = $100 Flybuys dollars (to spend at Coles etc), link

      • cakesy on 22/07/2016 - 08:58

        Is that $100 dollars? I have no idea what a flybuy dollar is?

        • tomsco on 22/07/2016 - 09:10
          +2

          It's basically credit either loaded onto your Flybuys card (or you can get a Coles group gift card if you want to gift it).

          So basically 20,000 points can get you $100 off at Coles, Kmart, etc.

  • grips on 21/07/2016 - 17:30

    Yes, you can select between a proposed credit limit (which is not shown) according to your income or one you can enter one in the application.
    But you can always lower the credit limit later.
    20.000 points is worth 100 AUD.

  • khing on 21/07/2016 - 17:51

    I already have ANZ NAB and CommBank credit cards with a total 30k credit limit. Is there a problem if I have too many credit cards?

    • cnrmlj on 21/07/2016 - 19:40

      Depends on how much you earn, what future credit you require and how you use your cards.

    • [Deactivated] on 21/07/2016 - 20:27

      Yes, it will affect your credit rating. 30K is also quite high.

    • illumination on 21/07/2016 - 21:46
      +7

      I don't really agree with the guys above.

      There is no problem.

      The primary concern people have is that they can't get a home loan when they eventually want one by churning through cards.
      When you apply for a home loan, and if they are only willing to approve you if you reduce your credit limit, do it. If they don't, then don't.

      With the new comprehensive reporting I think churning through cards has even less of a negative impact than before. Just don't miss your payments (I guess that's the "how" of what cnrmlj said).

      30k is relatively high, but it's not unheard of. Some people have 30k on one card. At my "peak" (and on not a great salary), I had a combined credit limit of about 55k. I think I'm now down to about 20k.

    • JIMB0 on 22/07/2016 - 06:03
      +2

      It gets to a point where you have trouble fitting them all in your wallet.

    • Trendz2Day on 22/07/2016 - 12:22
      +1

      As long as you make your payments on time, your credit rating will only get better not any worse. The only negative impact this has will be on how much you can borrow and NOT your chances of approval. However in some cases you can be denied a future credit if you have already reached a threshold that you can afford.

  • [Deactivated] on 21/07/2016 - 17:54
    +4

    I have one of these cards, seems fine, works in places where credit cards are accepted. It's actually GE Money who do the cards and their web portal is pretty terrible, if you've had a GE Money interest free account it's basically the same interface just with the Coles logo on it. It looks fine but you can't for example export your transactions to any format (Quicken, CSV etc) which makes it annoying if you have budgeting software (I use YNAB). Support people are a foreign call centre so any support queries will reflect that.

    • tomsco on 21/07/2016 - 18:19
      +2

      I believe it may be Latitude now, not GE. Same layout, also, as 28 Degrees.

      • nikhi24 on 22/07/2016 - 07:43

        Yeah I have a Gem visa. Loved it up until now as now getting charged a 95 cent online payment fee everytime I chuck some money on it :( obviously need to change how I use it and pay it.

    • Twirtle2 on 21/07/2016 - 20:08

      Not being able to export is such a pain! also YNAB user

    • kfuerza on 21/07/2016 - 20:25

      What about feeds to Pocketbook?

  • murkywater on 21/07/2016 - 18:22

    I thought Coles credit cards have price protection up to 2 years? Can't find that anywhere on the page :s

    • wfdTamar on 21/07/2016 - 18:36

      I believe it's for Platinum cards only (over $6000 limit I think). Very well hidden conditions (I can't find that either only a reference to extra conditions, but no link).

      • murkywater on 21/07/2016 - 18:51

        Just donwnloaded this: Coles MasterCard Conditions of Use

        Download Conditions of Use (PDF, 270kb)

        There's no reference to price protection. I think they no longer offer it anymore, sadly. It seems to only be part of their optional insurance "Account cover plus", which has a 1% premium or so.

        • OldBugger on 21/07/2016 - 19:13
          +7

          You just ring and add it on. You don't pay for it if you have a $0 balance when each statement is created.

          Used it many times!

        • murkywater on 21/07/2016 - 19:16

          @OldBugger: So I can just get their no rate mastercard, buy products i think will lose value in the next year, and before claiming add on the "account cover plus"?

          Or do I need to keep the account cover plus on every month?

        • gooddealmate on 21/07/2016 - 19:29
          +2

          @raven2000:

          Keep the account cover on and providing you pay off your balance it wont cost you anything, i've just claimed $300 back on my Galaxy s6 Edge+, plus its covered for theft,loss and accidental damage for 6 months.

        • unity1 on 21/07/2016 - 19:30
          +2

          @raven2000: The account cover plus would have to be on your account at the time of your purchase, and I presume remain in place in order to make a claim.

        • OldBugger on 21/07/2016 - 19:37
          +4

          @raven2000: In Unity's link it does apply to the no rate mastercard.

          You would need the account cover plus in effect I would say before purchasing. But as I said, it shouldn't cost anything to have it on your account. I've sometimes been a bit slack and missed the statement date and had to pay a small 1% fee.

          buy products i think will lose value in the next year

          Two years! The main problem I have encountered here is the actual product is not supplied after a year or so. But if you are thrifty enough you can catch some great discounts before they do. I use a site price tracker to alert me when the price reduces.

          Best use so far was with the merchandise protection (included in the account cover plus). Bought the wife a Samsung S2 tablet of $400. It reduced in price to $350 a few months later. Claimed the $50. Then the screen cracked slightly. Got a quote to fix which came to $500! Sent the quote to GE Money (now Latitude) and received $350 in my bank account within a week plus I got to keep the tablet, which still worked fine.

        • murkywater on 21/07/2016 - 19:52

          @OldBugger: @unity1: Thanks for all the info guys, appreciated!

          I think even the $89 mastercard is worth it with this price protection, since you can easily save $100s with 2 years price protection.

        • OldBugger on 21/07/2016 - 19:57
          +1

          @raven2000: plus it gives double flybuy points. So using it to pay bills and shopping, I seem to rake up points fast enough to get $10 of my Coles shop every time. But if not, the only benefit of rewards is the no international transaction fees.

          Price protection can be applied to any Coles card.

        • knowwhat on 21/07/2016 - 20:05

          @OldBugger:
          Can you advise which rewards card offer you such insurance? I am thinking of getting the samsung s7 edge, but a bit reluctant after by s6 edge cracked.

        • OldBugger on 21/07/2016 - 20:10

          @knowwhat: Actually, the site is contradicting. I just rang Coles and they said you can add the Account Cover Plus onto any of the Coles cards AND it includes merchandise protection and price protection. You can add this on in the online application - no need to call.

        • illumination on 21/07/2016 - 21:38

          @OldBugger: OldBugger, I'm a huge fan of the Price Protection and have used it multiple times too. I've probably claimed ~$800ish worth.

          Are you willing to share the price tracking website you use?

        • OldBugger on 21/07/2016 - 22:16

          @illumination: https://www.followthatpage.com

          A more accurate description, it alerts a change in the page. So you get a few false flags but it does work.

        • illumination on 21/07/2016 - 23:38

          @OldBugger: Thanks so much :)

        • JIMB0 on 22/07/2016 - 06:08

          @gooddealmate: Would you still be able to claim price protection if you sold the phone on to someone else?

        • gooddealmate on 22/07/2016 - 13:26

          @JIMB0:

          There is nothing in the claims process that asks you to prove you still have the item no.

  • HERE FORTHEFREE SHlT on 21/07/2016 - 18:42
    -5

    You lost me at "Earns over $25,000" lmfao

    • murkywater on 21/07/2016 - 19:17

      Surely centrelink pays more than 25k?

    • brongz on 21/07/2016 - 19:21

      why was it? i think it helps lotta people who need cc, so they can buy cheaper stuffs online. i bet most realise that deals from ozbargain are mostly online

  • shivaussie on 21/07/2016 - 18:44

    We're sorry, but based on the information you've provided, we're unable to offer you a Coles MasterCard, as your application doesn't fall within our current acceptance guidelines.

    You're welcome to reapply in the future, if your financial situation changes.

    I think the only reason for rejection should be my length of stay in Australia which is 4 months..

    • sudaraka on 21/07/2016 - 21:52

      I have a similar problem. They are asking for my previous residential address. What did you do about that?

      • shivaussie on 22/07/2016 - 08:54

        Not sure.. Haven't tried after that..
        Ozbargainers… Your help is required..

    • tobi3421 on 24/07/2016 - 19:38

      currently a student working part-time earning just over 25k and got declined too

  • plasmoske on 21/07/2016 - 18:49
    +2

    Would it be wise to apply for one? Don't really need a credit card but no annual fees and free flybuys points.

    Is there any catch?

    • Gnosh on 21/07/2016 - 19:04
      +2

      Bookmarking, would also like to know if any catches to be weary of!

    • JIMB0 on 22/07/2016 - 06:16

      The temptation to use the card to buy things you don't really need or can't afford. Then being stuck with paying 20% interest on your balance.

      • hetzjagd on 22/07/2016 - 11:10
        +1

        lol what? True Ozbargainers would not have that issue I don't think

        Also nothing stopping you cutting up the card when it arrives, disposing of it and not noting down the numbers on it

        • Soluble on 22/07/2016 - 21:55

          Except for having to use the card to get the bonus flybuys@

  • Senatekill on 21/07/2016 - 19:07
    +2

    Hi all, remember if your applying for a loan - credit cards and high card limits impact your borowing capacity so be careful!

    Cheers

    • OldBugger on 21/07/2016 - 21:11
      +1

      Just out of interest, I applied for a home loan at max 80% LVR. Bank approved loan as is but just wanted a statement saying that I would reduce my cc limit on my cards. So there are options.

  • serpserpserp on 21/07/2016 - 19:58
    +2

    So can I sign up for this, get the points and then cancel the card a month or two later? Or maybe just keep it in my draw for the price protection…

    • Soluble on 22/07/2016 - 21:56

      Certainly can.

  • Beancurd on 21/07/2016 - 20:23

    I tried promo1-5 which seemed to work, not sure what differences does it make yet

    • plasmoske on 21/07/2016 - 20:41

      They seem to be for different websites.

      For example finder.com.au says they have an "exclusive" deal with Coles… and their code is promo2.

      Technically they're right because they have a exclusive code.

      • supersabroso on 22/07/2016 - 01:07

        Load of bullocks, I got the same code in the mail.

  • blamesociety on 21/07/2016 - 20:37

    What if I don't have Flybuys already? If I apply for this card, does that get me a Flybuys account / card too? Will I still get the 20,000 points?

    • jackofspade on 21/07/2016 - 20:47

      Sign up to flybuys and get a card number before you apply.
      https://www.flybuys.com.au

    • JIMB0 on 22/07/2016 - 06:12

      They will create a flybuys account when you sign up. The flybys barcode is on the back of the card.

  • Vladdo on 21/07/2016 - 20:41
    +1

    I have a 28 degrees card which is a now a Latitude finance product. 28 degrees have started to charge 95 cents to pay via bpay and while you can pay by direct debit for free, you can only do it once every 5 days.. Anyone with a current Coles card, have they made these changes to their card yet?

    2 years price protection is very compelling, as i make a lot of technology purchases which go down in price very quickly after a few months.

    • hamza23 on 21/07/2016 - 22:21
      +2

      You can pay by Bpay on the Coles MasterCard without any fee. I use the Platinum card which also has no foreign exchange fees so good replacement for 28 Degrees but with the annual fee you need to make sure you use it to earn back the $89/year.

      Break even point is $8900 spend to earn $89 back (2 Flybuys points per $1 spend = 17,800 points = $89 - use it for bills etc and everywhere paywave/discounted gift cards can't be accepted.

      There's also no additional card fee so you can add family members on to get the best value out of the $89 annual fee. For those who make ATO payments or have a yearly tax debt, you can also earn points on ATO payments (for the moment anyway).

      It's served me well for some years now, well worth the annual fee (I think we only pay $59 still) - having said that things can change at anytime.

      • Vladdo on 21/07/2016 - 22:54

        Cheers.. thanks for that Hamza… I don't want to pay an annual, so will probably end up getting the above coles mastercard but stick with the 28 degrees for overseas purchases..

      • LoCure on 26/07/2016 - 15:11

        I just received my platinum card in mail and it says no annual fee forever, where did you see it say $89 annual fee for platinum card?

        • hamza23 on 26/07/2016 - 15:15

          It sounds like you are referring to the the No annual fee Platinum MasterCard - the white silver card. It has 1 point per $2 spend (0.25% earn rate)

          I was referring to the Rewards Platinum MasterCard. It has 2 points per $1 spend (1% earn rate), insurance, no foreign exchange fee etc. but has an $89 annual fee.

        • nocure on 26/07/2016 - 15:20
          +1

          @hamza23:

          the white card

          Silver - fyi

    • nikhi24 on 22/07/2016 - 20:06

      Its highly annoying isnt it. Im going to cancel mine

      • Vladdo on 22/07/2016 - 21:00
        +1

        Sure, I accept that it's costing 28 degrees/Latitude 20-30? cents to accept a bpay payment.. But, isn't that the cost of doing business of a credit card company who, by their nature, lends money and then receives money back.. I'd have thought that that'd fall under the whole 22.99% interest rate umbrella that 28 degrees/Latitude is charging..

        It's just penny pinch to the extreme and if they don't watch out, will see a number of people leaving over it.. And once a customer leaves, they don't tend to come back.. It'll then cost them substantially more than bpay payment fees to lure customers back in..

  • kechenl on 21/07/2016 - 20:58

    how about the rewards card? any promotional code?

    • jackofspade on 21/07/2016 - 21:12

      Promo3 is also valid for the rewards card. I didn't think anyone would be willing to pay $89 annual fee for it.

  • [Deactivated] on 21/07/2016 - 20:59
    +1

    One thing no one is mentioning is Price protection only works with Price drops from the same seller and only for Australian retailers. Not Amazon etc

  • poporange630 on 21/07/2016 - 22:36

    Applied and got a immediate approval. However I forgot to enter the promo code…
    Anyway… not a bad card and with 0 fee… I'll keep it for now.

  • ultimatefreq on 21/07/2016 - 22:39

    Is this better (The No Annul Fee Card) than the Rewards $89 annual fee or the $49 Low Rate card?

    I was thinking of getting the $89 Rewards card, but is it worth it? Would I claim back enough from my yearly shopping at Coles?

    • virhlpool on 21/07/2016 - 23:14
      +1

      If you are ready to pay yearly fees, then get bank's or Amex card.. why Coles credit card? You will get more choices there and wide range of benefits to choose from.

      • jasonb on 26/07/2016 - 00:14

        Because 2 flybuys points converts to 0.8 Etihad points per dollar. Far better than any other non-Amex card out there without a stupid annual fee.

        I play points games and this is the one I'm currently using where Amex isn't accepted.

        • virhlpool on 26/07/2016 - 22:07

          Where else can you use Etihad points if you don't need to fly? Just curious?

        • jasonb on 27/07/2016 - 02:18

          @virhlpool: not a clue to be honest. Points = flights for me. Preferably in business class or better. Well I'm never going to pay cash for that…

        • virhlpool on 27/07/2016 - 09:33

          @jasonb: You seem to be flying often.

        • jasonb on 27/07/2016 - 23:38

          @virhlpool:
          It's a hobby :-)

        • virhlpool on 28/07/2016 - 09:19

          @jasonb: Love your hobby, mate! My hobby is travelling in Opal buses (Sydney).

    • OldBugger on 22/07/2016 - 02:03
      +4

      I've made a little spreadsheet up which goes over my cards and the fee free Coles CC. They all give different points for different purchases but let's just say I spend $10,000 at major grocery stores a year. Disregarding card benefits, I will get back…

      Coles Rewards: 30,000 fb points = $150 - $89 fee = $61
      Coles fee free: 15,000 fb points = $75
      Amex Edge: 30,000 am points = $210 - $195 fee = $15
      ING (under $100 purchases, not always practical) = $200
      NAB Amex Qantas Premium: 15,000 q points = $100 ($250 annual fee waived with my home loan)

      I should downgrade my Coles to the fee free. My spending is a mixture along the lines of…
      Anything for purchase or merchandise protection: Coles
      <$100 Paywave: ING + flybuys if possible
      Over $100: Amex Edge + flybuys if possible
      Some bills: NAB
      Overseas purchases: Coles but may change back to BW or 28

      • lunartemis on 22/07/2016 - 07:34

        The $89 fee card gives you 2x Flybuys pts and the fee free and the $49 fee gives 0.5x FB pts.
        So the calculation based on $10 spend would be:
        $89 - 20k pts = $100-$89 fee= $11
        Fee free - 5k pts = $25

        I used to have the fee free card and spend around $2500 each month (15k pts p/a = $75) but since I switched to the $89 card, it is now 60k pts ($300-$89= $211)

        • ExPrinceHairy on 22/07/2016 - 09:37

          So the fee free card is better than the $89 one?

        • OldBugger on 22/07/2016 - 10:14

          The $89 fee card gives you 2x Flybuys pts

          True, plus an extra point when you shop at Coles of other flybuys partners.

          The rewards card works out better once you start spending over $19,000 and I think is one of the best cards out there if you prefer to use one card only. But if you have the Amex Edge anyway, for the benefits, it works out best to use that and downgrade to the Coles fee free.

          When I make a +$100 shop at Coles, I use Amex for its 3 points/$ and also swipe the back of my Coles card, which has the flybuys number, for an extra 1 fb point/$.

        • jasonb on 26/07/2016 - 00:17

          @OldBugger:
          What about when you make a <$100 shop at Coles?

          I made the same mistake for a bit, using the ING card. But don't forget you can cash in your Amex points for 0.7c each, at 3 points per dollar that gets you a 2.1% return so you're better there than ING.
          Plus interest free days (and cashing Amex points in is the worst value redemption anyway, so you can do a lot better than that!)

      • virhlpool on 22/07/2016 - 19:33

        ING wins in any case! No complication.. plain and simple, one card and use it for all (including withdrawal at all ATMs). Many transations are less than $100 in the day to day life. Even if half of those are, you are still getting $100 cashback with your assumptions, which is more than the rest. Plus, 3% interest rate on savings! Difficult to bit it! The biggest peace is not having to track reward points and redeem them.

    • wfdTamar on 22/07/2016 - 08:41
      +1

      You can use the card for everything and get points for it. Not just at Coles.

  • virhlpool on 21/07/2016 - 23:17
    +1

    Can I cancel the card anytime or is there any obligation since they are gifting 20,000 points? If we cancel it quickly for any reason, does it impact credit history?

    • hamza23 on 23/07/2016 - 02:14
      +1

      Cancel the card once you've received the 20,000 points but there is no rush or reason to cancel.

      Cancelling a card doesn't impact credit history, your credit report only shows credit enquiries (when you apply for credit), it doesn't show when/if you cancel the cards.

      • virhlpool on 23/07/2016 - 14:11

        True.. why to cancel if it's free, unless we have too many cards and it's getting unmanageable.

      • JIMB0 on 24/07/2016 - 11:21

        I thought we were changing to the system like they have in the US where a lot more information is reported?

  • Trillian on 21/07/2016 - 23:29

    Are you getting anything to your email? Didn't even get a verification email, starting to think I misspelled it!

  • bargainslut on 22/07/2016 - 07:54

    There's a 'lovely' American company named Veda that runs the the credit file of every Australian.

    My tip of the day is to call them with any questions regarding credit. In my experience they are very helpful;)

    Credit reports are free (Once per year). If you really want to maximise your credit situation use the paid version.

  • noskich on 22/07/2016 - 09:15

    The best option IMO is to cash in these points straight for a $100 Coles gift card, rather than having to make 10 different transactions of $10.05 or higher to get $10 off. The only downside is having to wait for the card for 1-2 weeks.

    • jkcat on 22/07/2016 - 10:45
      +1

      Not necessarily if you are an existing flybuys member. Convert points into flybuys dollars and use straight away.

  • MattyAu on 22/07/2016 - 09:42

    A questions for those in the know; I already have a Coles MC (have been impressed overall as well), I'm hoping to take advantage of this offer by signing up under my partners name and using my flybuys cards… I assume that will work?

    • MattyAu on 22/07/2016 - 12:19
      +2

      To answer my own question, it seems to work, application accepted and confirmed.

  • pantsparty on 22/07/2016 - 09:48

    Is this card really worth the effort? Its only $100 worth of points. I would rather sign up for a card which has 60k or so bonus Qantas points. If redeeming the points for a business class flight they are worth much more than $100.

  • virhlpool on 22/07/2016 - 20:17

    I am thoroughly confused because I want to keep only one credit card (ideally fee-free). Coles card has more reward points but Amex card has good cash back offers throughout the year. Not sure which one to go for. For debit card/ bank account, my pick is ING - no confusion there.

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