Coles Myer launches loyalty-linked credit card
The Australian multi-brand retailer, Coles Myer, has launched its latest customer loyalty initiative, the 'Coles Myer Source MasterCard', which offers FlyBuys loyalty points for purchases made using the card.
The new card, used with the recently upgraded FlyBuys customer loyalty programme, will award cardholders up to 7 FlyBuys points for every Aus$5 spent in any Coles Myer store, when customers use both their Coles Myer Source MasterCard and their FlyBuys card. Cardholders also earn 1 FlyBuys point for every Aus$1 spent at other stores anywhere in the world where MasterCard is accepted.
The existing Coles Myer store card will remain unaffected, while the new card is available in either a 'standard' or 'gold' card variety. If requested, a non-loyalty linked version of the card is also available.
Dual card The new loyalty-based credit card actually operates as a 'dual card', which is treated as a traditional store card when shopping within Coles Myer stores but is processed as a credit card by all other merchants. The card combines the benefits of the store card with the features of a credit card, while seamlessly earning FlyBuys points wherever it is used.
"This is an important component of the overall Coles Myer loyalty programme that also includes a revamped FlyBuys programme and a fuel discount offer for Coles, Bi-Lo and Liquorland customers," explained Coles Myer's CEO, John Fletcher.
FlyBuys loyalty Founded in 1994, the FlyBuys loyalty programme is a joint venture owned by Coles Myer and National Australia Bank, and claims market penetration of approximately 34% of Australian households (some 2.4 million households), and 5.4 million cardholders. FlyBuys points can be redeemed for any of over 1,000 awards including air travel and accommodation, and everyday items such as movie tickets and gift vouchers.
GE Capital Finance Australia is responsible for the issuing and administration of the Coles Myer Source MasterCard.