Flybuys is a popular Australian loyalty program co-owned by the Coles retail group and Wesfarmers. Members earn points on eligible purchases from various partner retailers, including Coles, Target, Kmart, Liquorland, First Choice Liquor, Bunnings, Officeworks, and other retail and travel partners.
To maximise rewards, you can apply for a Flybuys credit card to earn additional points on all eligible purchases, not just those from Flybuys partners. These points are in addition to those earned as a Flybuys member. Points from other credit card rewards programs — such as NAB Rewards — can also be transferred to Flybuys.
How Flybuys credit cards work
Coles is currently the only issuer of direct Flybuys credit cards. The number of Flybuys points earned per dollar spent varies depending on the card. The Coles Rewards Mastercard has the highest points earning rate and comes with other benefits, resulting in a higher annual fee.
For those seeking a card with no annual fee, consider the Coles No Annual Fee Mastercard or the Coles Low Rate Mastercard for a lower interest rate on purchase balances carried from month to month. However, these cards have a lower points earning rate compared to the Coles Rewards Mastercard.
Holders of NAB Rewards credit cards can choose to have their NAB Rewards points automatically converted into Flybuys points. You can also transfer points from the Citi Rewards or Suncorp Rewards programs to Flybuys, although one Citi or Suncorp point will earn less than one Flybuys point.
Credit Card Compare's expert on credit cards for Flybuys points
With this in mind, this is what Credit Card Compare co-founder David Boyd looks for when he compares Flybuys credit cards.
There are a few key things to look out for. The number of Flybuys points earned per dollar spent is key. Earning half a point more makes a big difference, especially if you're a big spender.
If you are looking at a credit card with a transfer partner, then check what that transfer ratio is. Don't assume that one bank rewards point converts to one Flybuys points, since that's probably not the case.
Sometimes issuers waive the annual fee in the first year, but then it reverts from the second year onwards. If you plan on keeping the card, check what the annual fee is on an ongoing basis and decide if you think the benefits outweigh the cost.
Choosing a Flybuys credit card
When selecting a Flybuys credit card, consider the following key factors to ensure you get the most value for your spending:
- Points earning rate: Determines how many Flybuys points you earn for every dollar spent. The Coles Rewards Mastercard has a higher earning rate than the Coles No Annual Fee Mastercard and the Coles Low Rate Mastercard.
- Sign-up bonus offer: Many Flybuys credit cards offer a sign-up bonus of thousands of points when you meet certain spending requirements within a set timeframe. Look for a card with a generous sign-up bonus to quickly build your points balance.
- Introductory offers: Some Flybuys credit cards have introductory offers, such as waived annual fees or a 0% interest rate for a set period. These offers can help you save money or reduce interest on your credit card balance.
- Annual fee: Consider the annual fee, as it can add up over time and reduce the value of your points. Higher annual fees often come with higher points earning rates and additional benefits. Ensure your spending is enough to earn rewards that cover the fee.
- Interest rates: Important if you plan to carry a balance. A higher interest rate can negate the value of the Flybuys points you earn, so choose a card with a low interest rate if you plan to carry a balance.
- Other benefits: Premium cards come with higher annual fees but offer additional benefits such as complimentary insurance or concierge services.
What Aussies say about Flybuys
Whether or not collecting Flybuys points is worth it is a perennial topic of discussion online. One thing is clear: Aussies use their Flybuys points for everything from cutting the cost of their groceries to booking flights.
In a Reddit discussion about using Flybuys points, one Redditor said that they "get several hundred dollars worth of points each year that I use to buy groceries." Another revealed they had "saved literally thousands."
In the same thread, one member said that they "get enough points out of Flybuys that I don't bother churning credit-card points offers any more."
Another said that "Flybuys converted to Velocity Points with family pooling means I get to keep my Virgin Velocity status reasonably easily despite dry travel spells."
Redeeming Flybuys points
Flybuys points can be redeemed for various products and services, including the following.
- Money off your shopping: Use points for instant discounts at Coles, Kmart, Target, Coles Express, Liquorland, First Choice, Officeworks, and Mycar Tyre & Auto.
- Travel: Redeem points for flights, hotels, car rentals, travel packages, or convert them into Virgin Australia Velocity Frequent Flyer points.
- Merchandise: Choose from a broad selection of products, including electronics, home goods, and fashion brands. Some exclusive merchandise is also available.
- Gift cards: Redeem points for gift cards from participating retailers, usable in-store or online.
- Experiences: Redeem points for unique experiences such as dining, concert tickets, and theme park entries.
However, it is generally accepted that the way to get the most value per Flybuys point is to redeem them for flights in Business or First Class.
