Flybuys credit cards

With a Flybuys credit card, you can earn Flybuys points on your eligible everyday spending. Here’s what is available, as well as other ways to earn Flybuys points with credit cards.

Anyone who has signed up for the Flybuys loyalty program can earn rewards points when buying groceries at Coles, filling up the car at a Shell Coles Express or shopping at other participating stores like Kmart, Target, First Choice and Bunnings.

Another way to earn points is to take out a Flybuys credit card. Alternatively, some credit card rewards programs let you transfer your points to Flybuys.

How can I earn Flybuys points on my credit card?

Currently, you can only earn Flybuys points directly with a Coles Mastercard credit card. Coles currently offers three Flybuys credit cards with different Flybuys earn rates. Some cards also offer bonus points when you sign-up and meet spending conditions.

Here’s how many Flybuys points you can earn at the time of writing (excluding bonus points offers):

• Coles Rewards Mastercard: Earn 2 Flybuys points per $1 spent on eligible purchases up to $3,000 per Statement Period. After that, earn 1 Flybuys point per $1 spent. There is an annual credit card fee of $99, an interest free period of up to 55 days, and a purchase interest rate of 19.99% pa.
• Coles No Annual Fee Mastercard: Earn 1 Flybuys point per $2 spent on eligible purchases. There is no annual credit card fee, an interest free period of up to 55 days, and a purchase interest rate of 19.99% pa.
• Coles Low Rate Mastercard: Earn 1 Flybuys point per $2 spent on eligible purchases at Coles Supermarkets. There is an annual card fee of $58, an interest free period of up to 55 days, and a purchase interest rate of 12.99% pa.

You will get these points in addition to any Flybuys points you earn with program partners. For instance, if you use a Coles Rewards Mastercard to shop at Coles, altogether you will earn 3 Flybuys points per $1 spent on eligible purchases up to $3,000 in a statement period.

Coles credit cards are linked to your Flybuys membership account. Once you have been approved for a credit card, you will be issued a credit card with your Flybuys member number on the back.

How to transfer credit card points to Flybuys

Another option is transferring your credit card rewards points to Flybuy points. For instance, you can currently transfer NAB Rewards Points, Citi Rewards Points, Diners Club Reward Points, Suncorp Reward Points and BOQ Q Rewards Points to Flybuys Points.

The transfer rate will vary depending on the credit card program. For example, based on provider websites, it is currently:

• NAB Rewards: 3,000 NAB Rewards Points = 3,000 Flybuys points for Platinum and Signature cards
• Citi Rewards: 1.33 Citi Rewards Points = 1 Flybuys Points
• Diners Club: 1 Diners Club Rewards Points = 1 Flybuys Points
• Suncorp Rewards: 1.33 Suncorp Rewards Points = 1 Flybuys Points

How to redeem Flybuys points earned with a credit card

Any flybuys points you earn or transfer from another credit card rewards program will be added to your Flybuys account. You can choose how to redeem your points, such as:

• Money off your next shop:  You can redeem your points for a discount when you shop – 2,000 Flybuys points can be redeemed for $10 off at Coles or other partner stores.
• Purchase items in the rewards store: Flybuys points can be exchanged for items such as tech, homewares and gift cards.
• Convert into Velocity points: You can also transfer your Flybuys points to Velocity Frequent Flyer points. You can currently convert 1,000 Flybuys points to 500 Velocity points.

What are the pros and cons of using a Flybuys credit card?

Before you apply for a Flybuys credit card, consider the potential pros and cons:

Pros

• Earn Flybuys points – this is the main benefit of a Flybuys credit card compared to other similar credit cards. You can earn points on your eligible everyday spending. But the number of points you get will depend on the credit card.
• Complimentary insurance – all Coles credit cards come with complimentary purchase protection insurance. This covers you if something you buy with your credit card is permanently lost, stolen or accidentally damaged. Terms and conditions apply.
• Access to 24/7 local concierge – all Coles credit cards also offer access to a complimentary concierge service. Coles says this can help you with travel and accommodation in major cities in Australia and around the world.

Cons

• Limited options – there are only three Flybuys credit cards to choose from. Alternatively, you may consider getting a different credit card that offers the option of converting its rewards points to Flybuys points. However, the number of providers who offer this option is also limited.
• Annual fees – you may be charged an annual fee depending on the card. The Coles Rewards Mastercard currently charges a $99 annual fee, while the Coles Low Rate Mastercard charges a $58 annual fee.
• Limited travel perks – unlike some other rewards credit cards, you will not receive perks like complimentary travel insurance or lounge access.

Also be sure to weigh up the pros and cons of getting a credit card more generally. A credit card can help with your cash flow and give you perks like points and complimentary insurances, but they can also be risky and it can be easy to rack up debt if you are not careful. It’s important to read and understand any documents, such as the Target Market Determination and Key Fact Sheet, as well as any other terms and conditions for the rewards programs and for Flybuys.

If you are interested in a rewards credit card or frequent flyer credit card, you can compare a wider range of options with Canstar.

Cover image source: ViDI Studio/Shutterstock.com