Coles Rewards Mastercard Credit Card: Explain The Difference of Platinum?

donkeyhokey on 30/11/2024 - 20:32
Last edited 30/11/2024 - 22:45 by 1 other user

Kinda confused by what's happening.

So recently I was looking at travel insurance and thought I'd check if Coles Rewards Mastercard offered it.

https://www.coles.com.au/credit-cards/rewards

Here it says

Complimentary insurance⁶

Get access to complimentary insurance on your Platinum Coles card.

No other mention of Platinum. Doesn't even show up on the list of cards.

"Funny" I thought… I'll check with their live chat.

Well, there's no travel insurance - it's purchase protection insurance.

Fair enough… but when I pressed more about Platinum:

  • it's an upgrade
  • it costs $99 a year
  • nothing else is different… rates of flybuys is the same.

But I'm already paying $99 annually for the rewards card.

So … I don't even know what the different is or why I had to ask for the upgrade… but in any case, I asked for the upgrade and they've got to create a new account / new cards… if anyone's got a platinum MC and knows what actually is different that'd be great if you could share thanks! Hopefully I haven't screwed myself over or something.

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Comments

  • Sye on 30/11/2024 - 20:41
    +2

    I would like to know the difference between "OzBargain" and "OzBargain Platinum" that I'm paying $99 per year for?

    • Xyzzy on 30/11/2024 - 20:43

      Free legal advice, whenever you need it.

    • Drakesy on 01/12/2024 - 00:33

      JV Personally rings you up and points out any flaws in your argument

      Honestly, it really is priceless.

  • MrBr0 on 30/11/2024 - 20:52

    Difference

    Collect 2 Flybuys points per $1 on eligible purchases up to $3,000 and then 1 Flybuys point per $1 up to $8,000 in each Statement Period.*

    And the fee one

    Collect 1 Flybuys point per $2 on eligible purchases up to $5,000 in each Statement Period.*

    • donkeyhokey on 30/11/2024 - 23:03

      Collect 2 Flybuys points per $1 on eligible purchases up to $3,000 and then 1 Flybuys point per $1 up to $8,000 in each Statement Period.*

      That's Rewards.

      Collect 1 Flybuys point per $2 on eligible purchases up to $5,000 in each Statement Period.*

      That's No Fee

      Neither of these are Platinum. There's multiple references to "Coles Mastercard and Coles Platinum Mastercard" they are different things or tiers. But they don't seem to advertise what the requirements are to get Platinum? And apparently they cost the same, just that Platinum gives you Purchase Protection.

      Edit: finally found a mention on another site

      https://www.executivetraveller.com/coles-rewards-platinum-ma…

      Be approved for a credit limit of $6,000 or more and you'll instead receive the Coles Rewards Platinum Mastercard: identical to the non-Platinum variant in fees and points, but with Merchandise Protection Insurance and concierge assistance included at no extra cost.

      Weird how Coles just doesn't advertise this anywhere 🤷‍♂️

      • kyle on 01/12/2024 - 23:28

        I've got a limit under 6k and it says platinum in the app

  • Baysew on 01/12/2024 - 00:18

    I received an email from Coles dated 07/05/2024. I will just post details specifically related to Platinum Card:

    Changes to your Coles Rewards Platinum Mastercard Terms and Conditions.

    We want to let you know about some upcoming changes to your Coles Rewards Platinum Mastercard account ending in NNNN.

    A summary of the changes is below, however, the variation notice provides full details of the changes effective from 1 July 2024

    • We are increasing the Annual Percentage Rate (APR) that applies to your Retail Purchase Balance and Cash Advance transactions. From 1 July 2024, the new APR will apply to any unpaid Retail Purchase Balances and Cash Advances (including fees and charges) as well as any new Retail Purchases and Cash Advances. The APR for Retail Purchases will increase from 19.99% p.a. to 20.74% p.a. and the APR for Cash Advances will increase from 19.99% p.a. to 20.74% p.a.

    • We are increasing the International Transaction Fee for Retail Purchases and Cash Advance transactions to 3.00%. The International Transaction Fee Waiver is being removed on the Coles Rewards Mastercard and Coles Rewards Platinum Mastercard.

    • We are changing the Earn Rate on certain Coles Mastercard products. Any transactions that have not been processed by 30 June 2024 and any future transactions from this date will earn Flybuys Points based on the new Earn Rate.

    • We are removing a reference to Flybuys Participating Retailer Spend as these retailers were only applicable to Coles Mastercard and Coles Platinum Mastercard which are discontinued and are therefore not applicable.

    • Concierge Services will no longer be accessible.

    Complimentary Insurance

    We are also taking this opportunity to let you know that we also recently informed you of important changes to the complimentary insurances available with your Coles Platinum Mastercard® credit card account.

    We wish to clarify that cover under the Prior Policy (Coles Platinum Mastercard® Complimentary Insurance Terms and Conditions as amended and effective 15 July 2023) applies to events occurring on or after 1 June 2022 and any eligible claims can be made under the Prior Policy within a reasonable timeframe and DO NOT have to be made by 31 January 2024 as recently advised.

    Customer Support Team

    Coles Mastercard

    • donkeyhokey on 01/12/2024 - 11:21

      Yeh so it seems that it's just a "free upgrade" if you have a minimum credit limit… the platinum and non platinum versions are basically the same except platinum has "purchase protection" and "extended warranty".

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