Coles is offering 20,000 bonus Flybuys points for new cardholders of the No Annual Fee Mastercard who spend $3,000 or more on eligible retail purchases within the first 90 days of approval until 31 July 2022.
The Coles No Annual Fee Mastercard is a simple proposition – pay no annual fee, and earn a small number of Flybuys points from your day-to-day spend in return.
Digging into the details
This is a no-frills card designed for those who don’t spend heaps on their card each month and don’t want any extra benefits.
|Card||Coles No Annual Fee Mastercard|
|Points earned from spend||1 flybuys point per $2 on eligible spend|
|International transaction fee||2.5% on all Retail Purchases and Cash Advances|
|Minimum Income||$25,000 p.a.|
Effective Frequent Flyer Program Point Earn Rates
|Partner Frequent Flyer Program||Equivalent partner points earned|
|Velocity Points||0.25 point / $ on all eligible spend|
Earn Flybuys points with the Coles No Annual Fee Mastercard
You will collect 1 Flybuys point for every 2 dollars you spend on the card. 2,000 Flybuys point can be redeemed for $10 worth of groceries (or redeemed for gift cards/other products from the Flybuys rewards store).
If instead you transfer your Flybuys points to Velocity, you’ll be able to redeem in increments of 1,000 Flybuys points for 500 Velocity points. Reduced to a point per $1 earn rate, this equates to about 0.25 Velocity Point per dollar, and you can transfer Flybuys points to Velocity at any time you choose, just keep in mind that points increments and limits apply.
This is a low points earn rate for these currencies compared to other cards on the market, but almost all of its peers will come with an annual fee to take into account.
Combined Flybuys and credit card with Coles Pay Tag
This may be useful – your credit card comes with your Flybuys barcode printed on the back, so there is one less card to carry around in your wallet.
You can also order a Pay Tag to stick on the back of your phone, again pre-printed with your Flybuys barcode (which can be quite convenient when using the self-scanner at Coles checkouts when shopping) and a contactless chip to use for PayPass without pulling your wallet out.
Apple Pay & Samsung Pay Support
Coles Mastercards support Apple Pay and Samsung Pay, meaning you can use this card on your smartphone for easier payments.
With this feature set up, it means you could still use your NFC-enabled phone to make purchases with your card, even if your physical card is lost or stolen and pending replacement.
The Coles No Annual Fee Mastercard is for those who are really trying to minimise outgoings in fees and other costs to banks but still want to earn a few points from day-to-day transactions.
Thankfully, Flybuys points are increasingly useful, so even if you don’t end up using them for flights with Velocity, they are easy to redeem for a discount at Coles.
That said, it could be well worth looking up the Coles card range, including the Coles Rewards Mastercard with an annual fee of $99, which is still relatively low compared to most other rewards cards.
With that card, you’ll receive a points earn rate four times that of the No Annual Fee card (2 Flybuys points per $ spent for the Coles Rewards Mastercard vs 1 Flybuys point for every $2 spent for the No Annual Fee Mastercard).
Terms and conditions
Terms and conditions and exclusions apply. Click here to find out more.