ING Platinum One vs Coles Rewards Mastercard - Rewards Zero International Fee Credit Cards

Hey everyone,

There is only a handful of rewards credit cards that also have no International Fee.
Just doing some quick maths here based on a $2500 Monthly Spend going through a credit card (pretty average I would imagine?)

Coles Rewards Mastercard Platinum

  • $99 Yearly Fee
  • 0.87 Velocity Points per $1 Spent
  • No International Fee
  • Purchase Protection Insurance (up to 90 days)
  • Extended Warranty (Up to 1 Year)
$162 overall yearly value going off a $2500 monthly spend.

Velocity Points are valued at around $0.01. So going off a $2500 monthly spend you get $21.75 worth of value.
$21.75 worth of points per month = $261 in value over the year. Subtract the yearly fee you get $162 of value

Orange One Platinum
  • $149 Yearly Fee
  • 1% Cashback up to $30 per month ($3000 of expenses per month)
  • No international Fee's
  • Travel Insurance
  • Apple Pay Support
$151 overall yearly value going off a $2500 monthly spend

$2500 monthly spend = $25 cashback each month or $300 per year. Subtract the yearly fee you get $151 in value.

While the ING Orange One Platinum is about $10 a year worse off compared to the Coles Rewards Mastercard. When you factor in that ING is instant cash back and not 'funny money' in the way of points which can change value, or have limits imposed on their usage by the airline, it makes it very comparable to the Coles rewards card, if not slightly better with the inclusion of travel insurance and Apple Pay support.

What are peoples thoughts?

Related Stores

Coles Financial Services
Coles Financial Services


  • Without digging too deep, if you shop at Coles, I would definitely lean towards the Coles card.

    Just with the credit card itself, you earn 2 Flybuys per dollar spent. So for your $2,500 per month that is 5,000 Flybuys a month or 60,000 Flybuys per year.

    From a pure monetary point of view (so ignoring the 'funny money' side of things) you can convert 2,000 Flybuys instantly at Coles for $10 off your shop. So that would be $300 instant money providing you shop at Coles at least 30 times in the year therefore giving you an actual yearly value of $201.

    This doesn't include the extra Flybuys per dollar you get when you shop in Coles or any Flybuys bonuses they have throughout the year.

    There are a lot of different ways to look at these comparisons and this is just one :)

    Reference: I have the Coles card and seem to earn Flybuys faster than I can use them!

  • If you already shop at Coles then the Coles card is a no brainer. 1% back in flybuys with no cap. If there was no cap for the orange card I'd be tempted!

  • I also have the Coles card and get a lot of value. I have not done the comparison for a long time but when I last did it was providing about 30% better points value (in pure dollar terms) than other points cards.

    The only other good value I have found with points cards are the one off points when you sign up. If I can I get those deals, qualify for the offer, get the limo sum points and go back to spending on my Coles card.

  • Have you looked at BankWest's cards with no international transaction fees?

    • I have, its a great card.

      But comparing it to the ING Orange One Platinum it’s not as good in my view. The 1% cash back on your purchase puts you ahead on overall value, even with the yearly fee in place.

      • Bankwest Qantas Platinum MasterCard (link here) offers 50k QFF points for $80 annual fee (1st year, then $160), plus .75 QFF points per $ up to $2500 per month.

        Not going to run the numbers but seems better to me.

        • Assuming a $2500 monthly spend.

          • 0.75 QFF points per $1 = 1875 points per month.
          • FF Points are ~$0.01 per point, so in this case you get $18.75 worth of points value per month.
          • $18.75 x 12 months = $225
          • $225 - $160 yearly fee = $65 of actual value.

          So going off that its not anywhere near what ING and Coles are offering on their cards.

          • @E5TOQUE: Why are you ignoring the $645 in value in the first year?

            You are not locked into these things for life, you can get the best deal now and then reevaluate in a year or so.

  • Wait for the 15% bonus before transferring to Velocity on Coles.

  • Apparently if you have a mortgage with ING they waive the yearly fee on the card. So the overall value on that would surge way past what the Coles card can offer.

    What you would need to factor in is ING’s mortgage rates vs someone else to see if you are actually gaining anything here

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