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Coles' historic move gives Aussies $94 back for nothing

Lucy Dean
·2-min read
A woman is seen shopping at a Coles supermarket in the central business district of Sydney on March 16, 2018. Australian supermarket chain Coles will be spun off into a separate entity by owner Wesfarmers, the company said on March 16, amid a shake-up in the food retail sector as new entrants threaten a longstanding duopoly. / AFP PHOTO / William WEST        (Photo credit should read WILLIAM WEST/AFP via Getty Images)
Coles has launched a historic promotion. WILLIAM WEST/AFP via Getty Images.

Coles will discount its prepaid Mastercard gift cards by 10 per cent from Wednesday, essentially giving customers money for free.

The Australian supermarket will apply the promotion to its $50, $100 and $250 gift cards from Wednesday 10 February to Tuesday 16 February.

The discounts also apply to the purchase fee which is $5 for $50 and $100 cards, and $7 for $250 cards.

On a $250 Coles Mastercard gift card, plus its associated $7 purchase fee, the total comes to $231.30, meaning customers effectively get $18.70 for nothing. Customers can buy up to five gift cards, meaning that if someone were to buy five $250 cards, they’d save $93.50.

“After a summer of spending, we know that our customers are looking for extra value in everything they buy and this is the ultimate way we can help them save on their everyday purchases,” Coles general manager of non-food Jonathan Torr said.

“It’s very simple to purchase a Coles Mastercard Gift Card and take advantage of this special, you just need to buy it in store.”

Coles said this is believed to be the first time in retail history that a retail Mastercard has been discounted. While Myer has run promotions offering bonus $10 gift cards for every $100 spent on gift cards, the Mastercard promotion isn’t limited to a certain store.

“Coles Mastercard Gift Cards are accepted anywhere that accepts Mastercard so the possibilities on what and where customers can save with this special are endless,” Torr added.

The supermarket will also offer a bonus 4,500 bonus Flybuys points for customers who purchase $200 David Jones vouchers. Those Flybuys are equivalent to around $22.50 in value at Coles.

And for $100 David Jones vouchers, the supermarket will offer up an additional 1,000 bonus points - or $10 in value. Those who pick up $50 vouchers will earn an extra 1,000 points or $5. There are no fees with the David Jones gift card.

However, shoppers have been told to get in quick as it’s only while stocks last.

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