Coles Myer MasterCard holders get cheaper fuel
The Coles Myer Source MasterCard has been improved to help Australians cut the cost of everyday living, by offering new cardholders an 8 cents-per-litre saving on fuel, thereafter becoming a 6 cent-per-litre saving.
The card now also carries an interest-free deal on transferred balances for up to six months, as well as double the usual number of FlyBuys points. According to Coles Myer's CEO, John Fletcher, the card's features have been enhanced to help consumers save money at the same time as being rewarded for their loyalty. Fletcher added: "Our customers tell us that they are looking for ways to make their shopping budget go further. A fuel discount, coupled with FlyBuys, special shopping offers, and no annual card fee, should make the card a key savings tool for the smart shopper."
The new Coles Myer Source MasterCard is a joint initiative with Coles Myer's credit provider, GE Money. GE Money's president and CEO, Tom Gentile, confirmed the view that consumers want more value from their credit cards, as well as lower fees. All existing cardholders are being contacted by mail to advise them of the various improvements to their card and its terms.
Fuel discounts In Coles Myer's marketing campaign, the company lists "three simple steps to cheaper fuel" which (summarised) are:
- The customer must apply for a Coles Myer Source MasterCard. Once accepted, new cardholders receive eight 4-cent Fuel Saver vouchers. The company also points out that, in the interests of fairness, existing customers are also eligible for the offer.
- The customer should then use the vouchers together with their 4-cent Fuel Discount Receipts (which they receive by spending Aus$30 or more at any Coles, Bi-Lo or Liquorland store). This brings the promised 8 cents per litre discount on fuel, up to eight times.
- Thereafter, customers are eligible to receive an ongoing 6 cents per litre discount by spend Aus$30 or more using their credit card at any Coles, Bi-Lo or Liquorland store. They will be presented with 2 cent Fuel Saver Vouchers (up to a maximum of four vouchers per month), which combine with the standard Fuel Discount Receipts to save 6 cents per litre.
Alternative rewards Instead of the introductory fuel offer, customers can instead choose to receive a single Myer or Megamart 10% discount voucher, by applying for the card at any Myer or Megamart store. These customers will, however, still be eligible for the ongoing 6 cents per litre fuel discount.
Other features included as standard with the card include earning 4 FlyBuys points for every Aus$5 spent in participating Coles Myer stores (when paying with the Coles Myer Source MasterCard and presenting a FlyBuys card), and receiving interest free offers of up to 48 months, invitations to fashion shows, sale previews and other special shopping offers.