Card Promotions Coles Mastercard Cash Instalment Plan Flybuys Bonus Points Offer - when do points post?

[BJReplay]

Has anyone taken up this offer?

If so, how quickly do the flybuys points post?

I'm short 6,500 KrisFlyer points for 2 x J return to LHR, and although it is terribly wasteful to transfer Flybuys to Velocity to Krisflyer, if I take up this offer, it will cost me $45 for 25,000 flybuys points = 12,500 Velocity Points = 8,000 KrisFlyer points, so this is a cheap way to buy those points.

But the offer says:

The Flybuys bonus points will be credited to the Flybuys Membership Account linked to your Coles Mastercard within 16 weeks from the date the first Cash Instalment Plan of $2,500 or more is set up, providing your Cash Instalment Plan has not been cancelled or repaid in full and your Account is in good standing.

If I have to wait 16 weeks, the flights I want will be gone, and I will have earned those points I'm short another way anyway.

 

[N860CR]

It’ll probably take the full 16 weeks given they want to make sure you don’t activate it then pay it off immediately.

Any other decent flybuys offers in your account? Otherwise maybe Virgin Wines?

 

[BJReplay]

I'll look into Virgin Wines - good idea. I'm just tempted to do the cash installment plan anyway - worst case scenario is that I have either the flybuys points as cash off (worth $125 for $45 fee), or velocity points - probably also worth around $125 for 12,500 points, so bit of a no-lose scenario.

 

[Human]

I have taken up this offer 4 times. On each occasion, the bonus points post at the end of the 3rd month after the offer. For example, I took up one offer on the 22nd of January and the points came through at the end of April. So it's slightly -- but only slightly -- less than 16 weeks.

 

[BJReplay]

I have taken up this offer 4 times. On each occasion, the bonus points post at the end of the 3rd month after the offer. For example, I took up one offer on the 22nd of January and the points came through at the end of April. So it's slightly -- but only slightly -- less than 16 weeks.

Thanks. I've taken it up for 6 months for the minimum amount to get the points.

No go for my KrisFlyer top up, but still worthwhile, and an 5x return on actual costs if used for discounts off Coles shops or for Velocity points.

I've recently reduced my credit limit on this card from $30,000 which I never needed / used (just what was offered) to $5,000 (as part of a general tidy up of redundant credit limits ahead of boosting other credit limits / applying for other cards), so I only had to take $2,500 to get the offer.

Cost for 6 months was 0.99% or $24.75.
Once the points post, I'll reduce my credit limit again, and see whether I get a similar offer with a reduced threshold for points.

If I can get 25,000 points for say $1,250 to get the offer at $12.38 in fees, that's starting to get pretty reasonable!

 

[MG1]

I've received an e-mail about a Coles Cash Installment Plan and wanted to find out from others whether it would be worth taking up.

The deal offered to me is 10k FlyBuys points (equivalent of 5k Velocity points), for a minimum amount of $2.5k, with a one-off cost of 1.99% (=$49.75). This essentially means your "buying" the Velocity points for 1c/point (plus any potential interest accrued on the $2.5k). Worth it or not really?

(Apologies for responding to an old thread.)

 

[BJReplay]

The deal offered to me is 10k FlyBuys points (equivalent of 5k Velocity points), for a minimum amount of $2.5k, with a one-off cost of 1.99% (=$49.75).

Barely.

10,000 FlyBuys points is worth exactly $50 in discounts off your Coles shopping.

I did this once (at a similar charge), when the points were enough to convert to Velocity (at a discount) and then to KrisFlyer (at another discount) but got me enough to book two return business class flights to London.

As it turned out, the points didn't get credited until after I'd booked the fares, but Coles / FlyBuys ran enough promotions in the meantime that I still managed to accrue enough FlyBuys points to do the conversion and get the fares.

I got an SMS yesterday - similar deal - 10,000 FlyBuys, $2,500 minimum, but 4.99%. So, my cost would be $124.75 - and that's definitely out of the money.

I don't think 5,000 velocity points are really worth spending $50 on, unless having them - at some point in the future - maybe 8 to 16 to weeks down the track, maybe less, maybe more - are enough for something where you wouldn't earn those points any other useful way.

$50 is roughly on par.