Coles Credit Card - Purchase Protection Insurance and Extended Warranty Insurance Will Be Removed from 1 Oct 26

the1doood on 30/07/2026 - 21:22
Last edited 30/07/2026 - 21:22

Hi
Got an email from Coles about changes from 1 Oct 2026 about features being removed.

Here is a summary of the main changes. Please read the notice below for full details including when each change starts.

Your card is changing to

  • Your card will become a Coles No Annual Fee Mastercard

Changes to your rates

  • The interest rate for retail purchases and cash advances will increase

What’s being added

  • Click to Pay will be added, so that you can check out securely without entering your card details at participating merchants

Please refer to the notice for more details including Terms and Conditions and eligibility criteria.

What’s being removed

  • Purchase Protection Insurance* will be removed
  • Extended Warranty Insurance* will be removed

What you need to do

Please read the notice and keep a copy.

You do not need to do anything for these changes to take effect. The changes will start from 1 October 2026.

Financial Credit Card

Related Stores

Coles
Coles

Comments

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  • phynicle on 05/08/2026 - 09:50

    Good news for those with account cover plus and still holding because of it!
    Managed to finally get through and agent confirmed no changes to account cover plus arrangements!

    • 5
    • spa on 05/08/2026 - 09:58

      thanks for sharing this great news :)

      • 0
    • llanfachreth on 06/08/2026 - 14:28

      Amazing, thanks

      • 0
  • elease on 02/08/2026 - 11:22

    Hi all,

    Is "Purchase Protection Insurance" the price protection insurance? I thought Purchase Protection Insurance was protecting against the purchase being stolen… Account Cover Plus is still in play, is it?

    • 3
    • spa on 02/08/2026 - 11:32

      Interesting point! Maybe still in play??

      • 0
  • soan papdi on 03/08/2026 - 07:38

    From the website, points earning is also reduced for the rewards card ($99 AF)

    From 1 October 2026, collect 2 Flybuys points per $1 on eligible purchases at Coles Supermarkets and 1 Flybuys point per $1 on eligible purchases everywhere else, up to $8,000 each Statement Period.^

    • 3
    • Boba on 03/08/2026 - 18:27

      This is the main issue that bothers me!! Plus cancellation of the platinum Mastercard tier.

      • 0
      • soan papdi on 03/08/2026 - 18:36

        What does lack of platinum mean? I can’t tell the benefit of being platinum now anyway.

        • 0
  • techno2000 on 31/07/2026 - 08:17

    Wow!!
    Thats extreme but inevitable I guess with surcharges being removed by RBA.
    I wish hotels and car rentals wouldnt ask for credit cards .
    Would just use debit cards forever.

    • 2
  • 0FoxGiven on 31/07/2026 - 08:58

    Ye sucks. The only reason I had the card for nearly a decade was the purchase protection. Essentially gave me over $7000 in cashback over the years. Will be cancelling the card in 2028 :(

    • 2
    • boomramada on 01/08/2026 - 22:29

      Looks like Coles isn't making money, hence they're getting rid of it? 😉

      • 0
  • naomieve on 06/08/2026 - 05:34

    I use the points for cash off at register at Coles. For the platinum card, it used to be a 1% return rate for the first $3k per month, meaning spending basically $10k a year to cover the $99 fee. Spending $20k a year would give $100 profit. Now the spends are doubling, though shopping at Coles still gives the higher earn rate. But it means more like a $20k spend a year to cover the fee, and $40k spend just to make $100.

    If you're using the card in clever ways to maximise earning, please let me know, but at this point I think I'll be closing it.

    • 2
    • leeroys_dad on 28/09/2026 - 06:48

      I closed mine, have reverted to the Citibank fee free for life card for now (mycard nab branded now)

      Waiting for 1 Oct when changes come out to see what else is out there

      • 0
  • zooter on 03/08/2026 - 14:35

    interesting that they are now providing mobile insurance, but only for postpaid numbers….what's the play here? I went to finder to check some postpaid and frankly I couldn't figure out the difference, for example, Tangerine is showing $20/month but surely that's prepaid not postpaid?

    • 1
  • donkeyhokey on 04/08/2026 - 16:15

    Looks like approximately up to 3k points loss per month after the change to earn rate, depending on how much you actually spend at Coles.

    Instead of 2points for all transactions for the first $3000, then up to $8000 cap (so 11k points) you'll get 2points for only Coles spend. So if you're only spending $1000 for Coles groceries per month, you're down 2k which is $10, or $120 yearly.

    Maybe if you can max $8k of Coles specific purchases per month it might have synergy… postpaid plans, insurance.

    • 1
    • deftnick on 04/08/2026 - 16:47

      This is OzBargain, someone will find some loophole, like buying $8000 worth of Coles Mastercard gift cards a month to pay for spending everywhere else. Before it gets OzBargained and ColesNAB close it.

      • 1
  • spa on 02/08/2026 - 09:10

    I haven't gotten this email yet, but yes it was inevitable I guess!

    • 0
  • llanfachreth on 03/08/2026 - 11:43

    Also received this email today. Does anyone know whether this affects Account Cover Plus?

    • 0
    • dbui8743 on 06/08/2026 - 13:40

      its different.

      you pay extra (if there is balance) for Account Cover plus, and it is provided by hallmark something.

      • 1
  • lufee on 03/08/2026 - 12:10

    I thought Purchase Protection is not Price Protection for Account cover plus.

    Price ProtectionWhat it does: Refunds the price difference if an item you bought goes on sale for a lower price at the same retailer later.

    Focus: Saving money on a cheaper identical item.

    Purchase ProtectionWhat it does: Reimburses or repairs your eligible new item if it gets accidentally damaged, stolen, or lost shortly after you buy it.

    Focus: Physical harm or loss of the item itself.

    • 0
  • zedtek on 03/08/2026 - 14:01

    So are they different? Will price protection remain ?

    • 0
  • msmaster on 07/08/2026 - 21:43

    Disappointed by the news. Anyone found a suitable or better alternative credit card yet?

    • 0
  • dmac80 on 13/08/2026 - 18:54

    I’m glad I found this! I got the letter and assumed it meant the price protection on the card was ending and was about to cancel. Very glad I didn’t as I have account cover plus.

    Out of interest are there any currently offered cards that still offer price protection? It’s honestly such a good deal for things like buying games day 1 and being able to claim back the difference when it eventually goes on sale.

    • 0
    • Hansi on 27/09/2026 - 19:26

      Amen - just thought the same thing!

      • 0
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