Myer Leaving Fly Buys

[oz_mark]

From: Bank happy with revamped loyalty scheme | Herald Sun

FLYBUYS points will no longer be available from Myer, but changes to the scheme mean that the rewards can be redeemed sooner.

The FlyBuys loyalty scheme, a joint reward program between National Australia Bank and Coles Myer, has about six million Australian members. The changes, which come into effect later this month, mean members will now need only a quarter of the previous number of points to claim awards.
For example, a reward that previously required 10,000 points, will now require just 2500.

A spokeswoman for NAB said customers had more to gain than lose from the changes, and that she expected more Australians to become members of the FlyBuys.

 

[JohnK]

Myer leaving was expected.

Flybuys could well be worth investigating now that points are worth 4 times as much as before.

 

[Kiwi Flyer]

Flybuys could well be worth investigating now that points are worth 4 times as much as before.

I didn't get that from the linked article, rather that the minimum redemption has dropped from 10,000 points to 2,500.

 

[JohnK]

I didn't get that from the linked article, rather that the minimum redemption has dropped from 10,000 points to 2,500.

Unless I am totally mistaken, members will now need only 1/4 of the points to claim awards.

The FlyBuys loyalty scheme, a joint reward program between National Australia Bank and Coles Myer, has about six million Australian members. The changes, which come into effect later this month, mean members will now need only a quarter of the previous number of points to claim awards.
For example, a reward that previously required 10,000 points, will now require just 2500.

 

[serfty]

I have this feeling that points will become harder to earn ...

Currently (among other earning rates) you ... "earn 2 standard points for every $5 spent by shopping at Coles Supermarkets, Myer, BI-LO, Coles Express, Target, Kmart, Baby Target, Kmart Tyre and Auto, First Choice, Liquorland, Vintage Cellars, Liquorland Direct, Harris Technology ..." (from FlyBuys FAQs).

Indicative flight award levels are currently 22,000 FB points for a SYD-MEL return journey and 108,900 for SYD-HKG return.

I wonder what these will be in December.

 

[JohnK]

Indicative flight award levels are currently 22,000 FB points for a SYD-MEL return journey and 108,900 for SYD-HKG return.

Assuming that points expire every 3 years and you earn 2 points for every $5 spent, without earning any bonus points, the SYD-HKG return would be very hard to achieve.

I will ask around if anyone knows what the new earning rates will be or if they will stay the same.

 

[straitman]

Assuming that points expire every 3 years and you earn 2 points for every $5 spent, without earning any bonus points, the SYD-HKG return would be very hard to achieve.

I will ask around if anyone knows what the new earning rates will be or if they will stay the same.

Certainly needs a HUGE improvement to interest me again.

 

[oz_mark]

I think it is just some bad phrasing in the reporting. FlyBuys is certainly introducing awards requiring fewer points (e.g. $20 vouchers), but not sure that otherwise the earn/burn rate is changing.

 

[nagelixin]

The new Myer Card and Myer One program are to be launched on Monday.

2 points per dollar on all purchases or
3 points per dollar if you purchase the item on your Myer Card. (Finance by GE Money)

 

[Tiki]

I just hope they don't convert our existing points so they are worth 25% less. Otherwise, this is really good news since it currently takes 13,500 points for $100 back on the NAB Visa. I'm holding my breath for 3375 points = $100 cash back! Someone pick me up when I turn blue!

 

[nagelixin]

The last change to the point structure they did change your points from memory...

 

[oz_mark]

I think the report confused things a bit.

$100 NAB and ColesMyer gift cards have been reduced to 12,500 points (down from 13,500 from Nov 6)

They have introdcued rewards with lower point requirements:

Redeem a $20 reward with only 2,500 points
$20 Coles Gift Card
$20 Kmart Gift Card
$20 Target Gift Card™
$20 credit to your linked NAB credit card

Redeem a $50 reward with only 6,250 points
$50 Coles Myer Gift Card™
$50 credit to your linked NAB credit card


The points were changed last restructure. You used to get 1 point for each $20 you spent, and 550 points would get you a mystery flight:!:

 

[JohnK]

I just hope they don't convert our existing points so they are worth 25% less. Otherwise, this is really good news since it currently takes 13,500 points for $100 back on the NAB Visa. I'm holding my breath for 3375 points = $100 cash back! Someone pick me up when I turn blue!

I think you will find that your current points will not suddenly quadruple in value but rather you will require less points for rewards with any new points you accumulate.

 

[coco50]

The last change to the point structure they did change your points from memory...

IIRC, when the last change was made to the points structure was made, you accumulated poits much quicker but need more to qualify for a reward - the relativities were sorta maintained. Needed this post to get off 187 - (200-13)

 

[oz_mark]

Got advised of the official date and Myer is pulling out of Fly Buys from 31 January, 2007.