Credit Card Profile: Coles Group Source MasterCard
March 3, 2010
Do you often shop at Coles Group stores? Do you wish you could get something back just for being a loyal customer? Well now you can! If you apply for and use a Coles Group Source MasterCard for your purchases at Coles Group stores, you can earn not only one but two types of rewards!
Learn more about the Coles Group Source MasterCard below to decide if the terms are right for you.
Type of Credit Card: Rewards credit card / Balance transfer card / No fee card
Interest Rates*: Your basic purchase interest rate on the Coles Group Source MasterCard is 19.74%, with a 21.99% cash advance rate. This might be a card worth considering if you’re looking to make a balance transfer (of at least $100). It offers a six month introductory offer with 0% interest on balance transfers. After those six months pass, any remaining balance from your transfer will revert to the standard purchase interest rate.
This card also offers up to 62 interest free days, which is more than most credit cards offer. However, it’s important to note that if you take advantage of the balance transfer offer, your purchases won’t be eligible for interest free days until that balance transfer is paid off completely.
Annual Fee*: One of the biggest perks of the Coles Group Source MasterCard is the fact that there is no annual fee.
Rewards / Extras*: This credit card offers two main rewards or perks: fuel savings and FlyBuys points. Saving money on petrol involves a four-step process. First, you use your Coles Group Source MasterCard to spend $30 or more (in a single transaction) at Coles, Bi-Lo, or LiquorLand. You’ll then receive a 4-cent fuel discount receipt in the following month, which you can combine with a Source Fuel Saver Voucher. You’ll be able to earn up to four Fuel Saver Vouchers per month. The vouchers are only valid for a limited time, but you can use them to save a total of 8 cents per litre on fuel when you purchase it at a Coles Express service station.
You can also earn up to 80,000 FlyBuys points each year, which can be redeemed for a variety of rewards such as merchandise, gift cards, and travel rewards (like flights and accommodations). When you use your Coles Group Source MasterCard at Coles Group stores, you’ll earn one point for every $5 spent. Remember that your MasterCard must be linked to your FlyBuys account in order to accrue and redeem the points.
Additional Details*: The Coles Group Source MasterCard has won Money Magazine’s “Best of the Best” award four times.
* Interest rates, annual fees, and reward programme details were taken from the most accurate data available at the time of writing. All rates and fees are subject to change from the issuing bank, and their inclusion here in no way serves as a guarantee of rates. Please review rates and terms with the card issuer at the time of application.
