just got this newsletter from Coles.
basically you get $50 voucher when you apply this card and it is annual fee free.
Get $50 off Your Coles Shop with a New Coles MasterCard
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Lzmsbd on 11/06/2013 - 15:06 colescreditcards.com.au (2378 clicks)
Last edited 07/10/2013 - 22:49 by 2 other users
Last edited 07/10/2013 - 22:49 by 2 other users
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Sure is on the the FlyBuys ☆ How close you are to your dream reward? ☆ email
(decided it wasn't post-worthy as you receive it if you are signed up toFlyBuys)3 interesting offers…
"No Annual Fee. Ever. Pay no annual fee and earn points everywhere with our new Coles No Annual Fee MasterCard. Apply by August 27th and if approved receive $50 Off a single shop at Coles Supermarkets. Apply now"
and
"When you purchase a $30 SIM starter kit for only $15
Connect on Telstra Pre-Paid Cap Encore™ and get free talk and text every night from 6pm-6am to standard Australian numbers. Plus, get 1,000 BONUS POINTS when you activate before 30 June 2013."
(Thats just click to activate the deal in the offer period, not activate the SIM! Points should be for any plan (iPad 3GB!)
$10 price after points redeemed is a good price to stock up - purchase 10 max in 1 transaction(T&C))and
"Telstra Pre-Paid 3G USB + Wi-Fi for only $10 plus 500 BONUS POINTS
Get the Telstra Pre-Paid 3G USB + Wi-Fi for only $10 when you spend $30 or more in Coles and also get 500 BONUS POINTS when you activate the included SIM before 30 June 2013." (1GB data included)Terms and Conditions:
Telstra SIM starter kit
Offer available from 11/06/2013 until 30/06/13 on purchases of Telstra $30 SIM starter kits in store at Coles Supermarkets (including BI-LO). Not available at Coles Online. No trade sales. Limit of 10 SIM starter kits within the eligible transaction. You must activate the offer within this email prior to purchasing a Telstra SIM Starter Kit to receive the 1,000 BONUS POINTS. Offer applies only once per flybuys member. ®Registered trade mark of Telstra Corporation Limited ABN 33 051 775 556.Coles Mastercard
Approved applicants with a flybuys account will receive a $50 Off voucher with their new Coles MasterCard. The flybuys barcode must be scanned at the time of presenting the voucher. Minimum spend is $50.05 after savings and discounts in one transaction at Coles supermarkets and Bi-Lo (excluding smoking/tobacco product purchases and Coles Group gift cards). Voucher may only be used once and surrendered at time of purchase. Excludes Coles Express, Coles Local and Coles Online. flybuys points awarded for using a Coles MasterCard linked to your flybuys membership are in addition to flybuys points awarded by flybuys partners. Eligible transactions are explained in the Coles MasterCard Loyalty Terms & Conditions found on colesmastercard.com.au. Eligible transactions exclude cash advances, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account. Coles is a registered trademark of Coles Supermarkets Australia Pty Ltd. MasterCard® and the MasterCard brand mark are registered trademark and PayPass is the trademarks of MasterCard International Incorporated. Credit facility provided by GE Capital Finance Australia (ABN 42 008 583 588, Australian Credit Licence number 392145), trading as GE Money.Telstra Pre-Paid Mobile Broadband
Network unlocking fee applies. Limit one transaction per flybuys member and no trade sales. Standard ID checks apply. Offer available at Coles Supermarkets (including BI-LO) until 30/06/2013 or while stocks last. You must activate the offer within the email and show your flybuys card at the register when purchasing your Telstra Pre-Paid 3G USB to receive the 500 BONUS POINTS after activating the included SIM. BONUS POINTS will be credited to qualifying member accounts up to 8 weeks from expiry of this offer. ™ and ® are registered trademarks of Telstra Corporation Limited.Call me lazy… but I'd like to -skip- reading the above…
Can the OP -puh-lease- make CLEAR:
Is this MasterCard…
a [cost-free] Debit Card (like, eg, MeBank provides cost-free) -or-
a [costly] Credit Card…???
If you rely on someone else to read the T&C for you, how do you know they read it correctly??
Besides - if it was meant for you, you have all that in your email anyway.this is a credit card.
according to their website:NO annual fee ever.
1 point per $2 you spend everywhere
MasterCard and flybuys card in one.
Up to 62 days interest free on purchases2
17.99% p.a
Yes I don't see it on the website.
The Coles MasterCard 2 points per dollar spent is excellent for rewards redemptions if you spend a lot on your credit card… with $49 annual fee payable.
Yeah you're paying $49 for the privilege of being able to earn points!
2000points = $10 off @ Coles.Maybe the Platinum card services might be worth it.
Rewards points are almost completely worthless — and here's why.
With a $49 annual fee, you are going to need at least 10,000 points/year just to break even.
That means spending $5000/year or about $100 per week.Now if you manage to spend $200/week on the card you would be making roughly $1 per week (above the annual fee).
That is a 0.5% discount!For comparison, ING's paywave gave you a 5% discount. Gift cards are often sold at a 5% discount. These discounts are 10x better than Coles Mastercard!
$2 per 1 point??? :(
… with no annual fee payable.
… with FREE $50 spending ;)
There Mastercard is through GE Money for your info… i applied recently and was knocked back… they told me to ask Veda about something in my credit report.So i thought what the? 3weeks later i looked at my credit report and all I could see was my NAB credit Card (with NIL used)…pack of wankers GE Money… be careful all the correspondence over the phone i had with them they were all American!
I was actually glad they knocked me back … when i found it was GE Money..Posted in T&C above. GE Money also has 28Degrees CC (and many others), popular with OBers.
Only issue in many years I had was they suspended my 28Degrees CC on last day overseas because of a "security issue" with my card. I complained, they apologised & gave me twice the costs of Visa Cash advance I needed to make because of their mistake.Gee that's good!
Did anyone notice the exhortation withdrawal/Forex transaction fees for the Coles card?
Assuming you mean extortionate, the solution is to not use this card for withdrawing cash overseas or foreign exchange transactions - that is what the 28 Degree card is for. This card is, in my opinion, excellent if you use the card frequently with the Rewards Mastercard for $49 a year - I would be miles in front.
And, of course, you should pay off the full balance every month.
I have not received email yet :(
Thanks
It's ok if you just want $50 for shopping at Coles but the card itself is pretty ordinary.
Platinum Mastercard from Bankwest and 28 Degrees Mastercard (from the same mob as this card - GE Money) are much much better as they both have no annual fee AND NO CURRENCY CONVERSION FEE for buying and withdrawing cash overseas.
I would advise people AGAINST applying for a credit card just to get some sort of a one-off reward UNLESS the card itself is actually good and suitable for their needs and they intend to keep it for the long haul (at least 12 months).
Unlike transaction and savings accounts as well some other financial products, this is a LENDING product and if you apply for it, your credit file WILL be accessed and the application and ongoing credit arrangement WILL be recorded. Please choose carefully.
I recommend avoiding Coles credit cards, they have become increasingly shifty with their documentation.
Biggest example: about six months ago, they changed their billing, so now there is a "Total Due" field on the bill, in which they put the minimum payment required. To me "Due" is the as per the dictionary definition "an amount owing". But for the Coles card, "Total Due" is not "Total amount owing". This is designed to trick people into making the minimum payment.
To me "Due" is the as per the dictionary definition "an amount owing".
Yes, the total amount owing…. for the statement period. You only have to pay the minimum repayment, not the full account balance, so the full amount is never "due" - that's why it's called a credit card.
Then calling it a "Total" is misleading, because they aren't totalling (adding together) anything to get their "total". It should be correctly described as "Minimum payment due" or "Minimum due".
That has now become the standard practice of most credit card companies.
Well I am voting with my feet - I spoke to a rep for a competing credit card on the weekend, and I'll be closing the coles card as soon as I can get the required info together for the competing card.
I can tell you that 28 degrees don't do this, and also Westpac's "Ignite" card doesn't do this. I've had excellent service from both of those.
Um…
GE Money also has 28Degrees CC
I know that GE Money handle both cards, but that doesn't mean the policies for the Coles card are set by GE money. It looks like Coles set the way their bills look, and the policies. Certainly all the documentation changes said they were from Coles.
The contact phone numbers on the back of the cards are different too, 28 degrees is (03) 9445 0189, Coles card is (03) 9420 4813. I think I was talking to Coles staff when I complained, not to GE money staff.
Always have a free (no annual fee card)on hand, This way if your bank or other fee charging cards refuse to forgo the annual fee you can tell them to bug off. And still have a credit card on hand. Coles is as good as any for a temp card.
And $50 free shopping - that's the only reason I will consider it. Why even debate anything else.
I applied for this card because I needed a credit card for my international travel (which is paid by my company). So I'm happy that I got the $50 offer….
for those complaining about high conversion fees, please don't use a credit card for your overseas purchases; use cash! My only reason for not using cash is because my company needs a statement to pay me my travel expenses
Use a 28Degrees Mastercard, Citibank Plus Visa Debit or similar. Free, great conversion (mid-market), no conversion fees, and no ATM fees. I use the Citi for ATM cash withdrawals & 28D for CC purchases. Bugger cash carrying cash with terrible conversion rate/fees. But I'll get this card just for the free $50 spend.
Love your style mate! I'm the same
Just one thing: getting the credit card means your credit file will be marked. That's ok if you do it once every 12-18 months or so but not more often than this.
Unlike churning banking accounts (of which I am a great proponent), churning credit cards too often CAN have detrimental effects.
Feel free to proceed with this but I would urge you that if you do, do NOT apply for any other credit card for AT LEAST 12 months.
The previous deal is this without the $50 bonus (which is worse - and the results were worse too), but neither have been particularly well received and I don't understand why.
This is a credit card with no annual fee and as is mentioned in the other deal, there aren't that many credit cards these days with no annual fee and a decent rewards program. You could argue that FlyBuys is nothing flash and maybe it isn't, but it's one of the ones where it's relatively easier to cash in with FlyBuys Dollars (2000 points per $10). People knocking this - I'm interested in what other "competing" credit cards there are out there?
For me, I don't see this as a great way to earn points, but rather a great way to have a "backup" credit card with no annual fee that earns points with a crappy return as a bonus.
Also keep in mind that there is Account Cover Plus which I posted about, which is essentially like 28 Degrees Shopper's Protection. The main highlight being Price Protection of 24 months instead of 6 months. To me, personally this even makes the $49 annual fee Coles Mastercard worth it but I would still personally opt for the no annual fee card.
beware if you are an existing old customer with the original no annual fee earning 2 points at only fly buys partners and then choose to upgrade free to give their 2 points card a try for 1 year and having the annual fee waived for the first year. They told me you could downgrade again before the annual fee is charged within 12 months and still get the 2 points at coles and pay no annual fee. however they changed their earn rate with this new no annual fee card to 1 point per $2 spend anywhere recently which wasn't the deal when I applied for the upgrade 12months ago. I wasn't happy about the new changes so they waived the annual fee for another year. I might have to consider cancelling it if they don't restore me to the original no annual fee card earning 2 points per $1 spent at only fly buys partners. Important information for existing customers http://www.colescreditcards.com.au/existing-customers
This is an awesome card, for $49 annual fee, getting 2 flybuy points for $1 spent is a very good return (1% of your purchase back) with free additional card holders. Plus you will get the $50 bonus as well. Use it as back up to my Amex and this deal which is basically no annual fee for the first year makes it even better.
update: you don't even need to activate your credit card to use the $50 deal. So, I guess you can use the voucher and then say you changed your mind about the credit card for all you freebie hunters out there!
The $50 bonus is for Flybuys members only and probably specific to those who received the email as there is no mention of it on the website.