New Coles MasterCard flyer arrived in mail

[opmRRS]

Hi all, new member so take it easy (and yea I did search beforehand).

Got a flyer with my FlyBuys statement today advertising the new Coles MasterCard. Couldn't find much recent data on these forums and wanted to know what any of you thought of it.

The flyer (and website) states: no annual fee for first year (normally $49 p.a.), 5,000 bonus points (I presume FlyBuys points) upon signing up and making a purchase before 28-Feb, $10 off shopping at Coles (by redeeming FlyBuys at checkout) and 2 FB points for every $1 spent at eligible retailers.

They've stamped the flyer with Canstar 5-star ratings for outstanding value rewards and credit card categories and mention 19.99% interest p.a. and 62 days interest free..

Any idea if this is worth pursuing? I'm looking just for supermarket, fuel, probably up to $1k purchases per month I guess..
I need to get my head around FlyBuys points, have never cared much for them but if I can get a voucher or something every now & then (as compared to my current St George Vertigo MC with no points) then I'm ahead overall.

Thanks and look forward to the discussion.

 

[Deleted member]

Personally I don't even read my FB statement. I just collect whatever gift card I can at the end of each year. I prefer Qantas points. So a foes card would be no use to me

 

[cooni]

Any idea if this is worth pursuing? I'm looking just for supermarket, fuel, probably up to $1k purchases per month I guess..

2 FB points per dollar, $1000 per month = 24000 points per year.
2000 points redeems $10 at Coles so that's $120 worth per year.
Minus the $49 and you're up $71 a year.

You'll get more points for shopping at participating FlyBuys stores that'll put you further ahead.
If you have no other rewards cards this is certainly better than what you have, but there may possibly be better out there.