Is this a good deal? Flybuys bonus on prepaid mastercards

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Hey everyone just wondering if this is a good deal, still a novice at this game
flybuys are offering a bonus on prepaid master cards of 500pts per $50 card or 1000pts per $100 card - am I right in calculating this as 0.11 earn rate? Is that good? Thanks

Terms and Conditions

*BONUS POINTS offer only available to flybuys households which receive this email, activate the offer and then purchase a $50 and/or $100 Coles Gift Mastercard (“Qualifying Card”) in store from a Coles Supermarket between Tue 2 May 2017 and Mon 15 May 2017. BONUS POINTS will be awarded for each Qualifying Card purchased during the offer period, up to a maximum of 10 Qualifying Cards of each denomination per flybuys household. 500 BONUS POINTS for each $50 Coles Gift Mastercard and 1000 BONUS POINTS for each $100 Coles Gift Mastercard will be credited to the qualifying flybuys members account within 4 weeks of offer end date. Your flybuys household has been specifically selected for this offer and it is not transferable. You must activate this offer and scan your flybuys card when you buy a Qualifying Card. This offer has been sent to you by flybuys. Standard flybuys terms and conditions apply and are available at flybuys.com.au.

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Hi BrisMum

What the email doesn’t say is that the Coles MCs have a $5 activation fee i.e they cost $105

The value of the FlyBuys therefore offsets this activation fee for the $100 card (but not the $50)

There are 3 ways that this offer can ‘work’

  1. you can get more than 0.5c value with Flybuys (eg by tranferring to Etihad or Virgin)
  2. you have a card that earns more points in supermarkets than elsewhere (eg the Amex Platinum Edge) and you then spend the Mastercards elsewhere
  3. you have a spend target to reach on a credit card
Against this you have the inconvenience of carrying around multiple pieces of plastic, tallying up how much is left on them, incomplete acceptance and tying up money that could be earning interest/offsetting the mortgage

NB: you won’t earn VA status credits for buying giftcards

I’ve bought many, many cards in previous offers (shame about the 10 card limit this time) but you need to go in with your eyes open

 

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Thanks for the reply Andye, I did spot the $5 fee and tried to factor that in when I calculated the earn rate.  I figured the $100 cards would be better value because of that, and although one will be a gift, thinking of buying a few more to add extra points on my grocery spend or online purchases when I can’t akways earn points.  Don’t currently have mortgage or points earning cards to factor in but good things to consider.  Thanks again

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