Coles Rewards MasterCard: Bonus 40,000 Flybuys Points with $1500 Spend in 60 Days, $0 Annual Fee (Was $99) First Year

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Hi all,

Coles are offering their Rewards MasterCard with 40k bonus points with Zero annual fee for the first year where the cardholder spends $1500 in the first 60 days.

Something similar was posted a couple of weeks ago but that seemed targetted as some got offered 40k some 20k in bonus points and this one has a lower spend criteria.

Yes I know this is a far cry from the days when 90k was offered but for $0 fee this is a good card. The 40k points equate to $200 in Coles point of sale redemption ($10 per transaction) which is not bad, or a large variety of gift cards or FlyBuy redemptions.

This card is friendly in that the card has a low minimum credit limit (I think $3k), so its easier to get. Furthermore I have had it confirmed by the Call staff that current Coles credit card holders do not have to wait 12 months to be eligible for this deal, simply cancel and reapply for another one, and use the same FlyBuy account.

As usual please spend responsibly, always clear the balance at month end and please remember to cancel the card before the 1 year anniversary where the $99 annual fee kicks in.

Cheers.

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Comments

  • +1 vote

    Furthermore I have had it confirmed by the Call staff that current Coles credit card holders do not have to wait 12 months to be eligible for this deal, simply cancel and reapply for another one, and use the same FlyBuy account.

    I agree with that but seems very weird promotion marketing strategy…..

    •  

      Wonder if they get bonuses from the card issuer? Is it CitiGroup?

    •  

      Agree… only thing you will lose Purchase protection & Extended warranty insurance on items you purchased on first card…

      •  

        I can't see purchase protection listed as a feature on the link. Am I missing something?

        •  
          •  

            @Kas: Ahh thanks for that. Shame it is only 90 days :S You had my hopes up it was another 28D type that goes for 1 or 2 years. I have had my 28D card since the insurance was given out but didn't think it was worth it… How naive I was.

    •  

      I think i know why…… Citi is leaving Australia, and this is a last ditch attempt to boost numbers that will make their prospectus more appealing to potential buyers.

      •  

        they can't leave fast enough imo, maybe then I'll be tempted to apply! Haha

    • +27 votes

      The interest rate should not be a concern for anyone with a membership to this site.

  • +1 vote

    FYI 40,000 coles/flybuys are worth about $200 and can be used to buy eftpos gift cards if you'd rather the cashback.

    I took this card out last time when it was offering 100,000 flybuys and honestly thought the experience was great.
    Citibank finally seem to not be the worst for credit cards.

  • +13 votes

    My credit checks are worth more than $200.

    •  

      Me too.

    • +1 vote

      Honestly I don't think it is an issue, as long as you pay total due amount ontime… Maybe it is a plus point…
      I have about 10 opened and closed credit cards… (max 3 months each). wasn't issue when I refinanced my home loan with Athena.

    • +1 vote

      It really depends. If you're planning to take a mortgage or refinance soon - maybe true (I wouldn't risk). But if not - go wild, it will recover in a few months.

      •  

        From what I've heard, most banks won't care about your 'credit rating' as long as you cancel all/most of your cards prior to inquiring

        •  

          This.
          According to the credit rating, my score is just below average.
          But i have a stable high income, no mortgage. I'm currently have several active CCs but have no problem with churning new cards for bonus points - apply new cards as long as i closed the previous one.
          So far already closed/applied 5 cards this year.

  • +1 vote

    No price protection……sniff sniff

    • +1 vote

      You will not be keeping this card for that long.

      •  

        Why not? It is a good credit card with a good points returns. Very convenient if you shop at Coles – you don't have to do anything to use the points.

  • +2 votes

    For those willing to spend more (3k in 3 months), https://www.ozbargain.com.au/node/628089 citibank rewards card which gives 100k flybuys points might be a better deal?

    • +2 votes

      Citi Rewards Card – 90k Bonus Citi Reward Points & $100 Coles eGift Card - $49 First Year Annual Fee, $149 after

      After meeting the spend requirement you'd get the $100 Coles gift card plus have enough points for a further $440 of Coles/Woolworths e-vouchers.

    • +1 vote

      Coles rewards MasterCard has one more important benefit - 2 flybuys points per $1 spend, which is effectively 1% cashback. Unfortunately they recently capped it by first $3k in the statement period, and 1 point per $1 after. So if you spend $5000 per month, you get back $40 in Flybuys points.

      • +1 vote

        Coles MC does not charge fees for oversea/online spending. It is also handy for overseas youtube premium and items on Aliexpress & Banggood etc.

      • +1 vote

        I wouldn't be taking credit cards out for the credit earn.
        Churn and burn for the bonus points is the Ozbargain way.

        Accruing points the old fashion way is too slow and expensive

        •  

          What would you suggest? Changing credit cards every month?

          • +1 vote

            @Cupa Bundy Drinker: Not every month, but roughly every 3-6 months….YES. That's entirely the point of these deals being advertised is so you can jump from card to card and get maximum points

            •  

              @tritorius: Bingo,
              every 2 months in my case.
              Credit score is actually pretty healthy, as is my qantas points balance.

            • -2 votes

              @tritorius: Haha! My Ozbargain is about bargains, not about "eat the rich":)

        • +1 vote

          I agree with the churn and burn, which I do (the Ozbargain way). However I do keep this card as the base earn card for regular recurrent expenses ( direct debits etc) and regular spend once the required spend is reached on the latest churned card because more often than not the 1% return on this card is better than the earn rate on that other card.

      •  

        Yeah that points cap sucks, it used to be unlimited!

  •  

    thanks, got conditional approval

  •  

    citi..i shall pass..

  •  

    Can you buy iTunes GC with flybuys dollars?

  • +1 vote

    This is the one card I've consistently renewed membership with. Solid point to dollar conversion with $10 off Coles shopping. No international transaction fees. No use to new customers, but the price protection is excellent. I've claimed over $200 this year.

  • +1 vote

    I love this card. As someone based os, I love the zero FX fees. I am now seriously thinking of cancelling and re-applying.

    •  

      Yes. Once you get close to your 1 year anniversary of fee free, cancel and reapply for the next deal.

  • +3 votes

    approved, process took around 2 hrs from application to approval

  • +2 votes

    common.rejectedPageHeader Thank you for applying with us.
    We regret that, based on our evaluation of the information you provided, we are unable to approve your application at this time.

    •  

      Might have gone over my head if its a joke.

      Hope it was and you got approved.

      •  

        nope. i was super surprised but oh well cant be winner all the time. life is just like soccer ball sometimes i am at the bottom dirt

        •  

          Call them. Anytime I don't get instant approval I can usually work out out over a phone conversation

          •  

            @OldBugger: thanks. staff said he couldnt locate my application today and also weird i dont get any application reference.
            - so i will try re-summit again later.

            • +1 vote

              @ChiMot: Odd. Hope you don't get two credit enquiries

              •  

                @OldBugger: ok reapplied same thing, plus got email rejection right away. called and passed to application team, the girl "hinted" about limit capasity…
                oh well, …….yes i have that citi signature free for live with high limit…

                •  

                  @ChiMot: I once was told that. So I told them I cancelled the other credit card. They then approved me. 🤷‍♂️

                •  

                  @ChiMot: citi run cards will instantly reject your application if you have been rejected by any other citi group run cc in the last 3 months. No matter what the reason

  • +5 votes

    OzB tip. If you apply and select "Finish Application Later" when prompted to submit payslips, they call you the day after and offer bonus 5,000 Fly-buys points to complete application within 24 hours. This is on top of the 40,000 points offered in promotion.

    •  

      confirmed the above last year dont know if they still doing it but yeah delay 1-2 days pretend you are busy they will chase up with bonus

    •  

      Great tip :D
      Used it before by accident, CITI offered me 16K if I finished the application within that day plus linkage to a Diner club card.

    •  

      got my 40K bonus in first statement, but not the 5K - do you know they credit later?

  •  

    If i use it today paying off Zip or Afterpay will it be counted as a spend?

    •  

      yeh it does - paid my zip balance earlier this year and met the min spend

      •  

        Thanks mate

      •  

        Can I ask, does it work if you use Zip to pay bills etc? Then use credit card to pay off Zip? Any personal experience?

        Also unrelated but can you use this card to buy gift cards? I see in my usual Credit card, Stored value cards are counted as Cash advances

        • +1 vote

          personally haven't paid a bill w Zip but as long as Zip accepts, whatever spend you make on Zip can be paid with a CC
          I've used the Coles MasterCard to buy e-gift cards before and it counts as normal spend

          •  

            @egglings: Thanks mate, I just spoke on chat with a Coles Financial services rep though and they're saying gift cards don't count, which is normally the case for other banks … How are you able to tell which transactions count anyway? My St George card at the least doesn't tell me which transactions have points and which don't. I have to manually guess and sometimes that's a bit iffy.

            •  

              @VeeKTOR: I have a look at the points earned vs spend to keep tab. It may be because I purchase gift cards through third party portals like Suncorp or ShopBack - might be the CC doesn’t recognise as a “gift card transaction” 🤷

  •  

    Can you downgrade to the $0 annual fee version without a credit check before the end of the 12 months (to avoid the $99 annual fee for next year)?

    •  

      A while ago (think pre 2018), if you ring them up and ask nicely, they may waive the fee to keep you staying with them.

      They're not doing that anymore since that against the law. Banks need to provide a way to instant cancel button on their webpage.

  •  

    This one will give you 50k + 50k and no annual fee in the first year, open in incognito browser
    https://www.coles.com.au/credit-cards/rewards?cid=rewards:ed...

    Oops someone has posted it alread
    https://www.ozbargain.com.au/node/643324

  •  

    The T&Cs for this card seems not exclude to earn points for payments to government (eg council rates, ATO, car rego).

    *
    oTo receive the 40,000 Bonus Flybuys Points, you must apply for a Coles Rewards Mastercard by 30 September 2021, then spend $1,500 or more on eligible retail purchases (excludes Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, bank fees and charges such as interest and ATM charges) in the first 60 days of the Account approval date.