What does the following change mean to earning of flybuys and rewards on a Coles Platinum Mastercard.
Citigroup Pty Ltd (“Citi”) has purchased the Coles Credit Card Portfolio from Wesfarmers Finance Pty Ltd (“WF”).This means that from 5 March 2018 (“Start Date”), WF will assign your Coles Mastercard (“Credit Contract”) and any outstanding balance you may have to Citi.
Hi knagelli,
I quote from another community page on this topic.
"There are a few small changes being made
1) Narrowing of the interest free period, changes from “up to 62 days” to “up to 55 days”
2) Due date changes (25 days after statement date, rather than one month)
3) Minimum payment due calculation changes
4) Some changes to fees
5) Exclusion of ATO/government charges on applicable cards
6) Timeframe for posting points looks to be changing"
It seems like the international transaction fee might be back? See below from the “Coles Mastercard Financial Table Update” PDF.
The International Transaction Fee will change to 2.50%, debited to your Account on the Transaction Date, of which a service and assessment fee of 1.10% is payable by us to Mastercard, for any Retail Purchase or Cash Advance transaction in:
1. Foreign currency once converted to Australian dollars; and/or
2. Australian dollars (or any other currency), when either the merchant or its financial institution/payment processor is located or registered overseas, including transactions that involve dynamic currency conversion (that is where a transaction denominated in a foreign currency is converted to local currency which is a service that is offered by certain ATMs and merchants). The process of conversion and the exchange rates applied will be determined by the relevant ATM, merchant or dynamic currency conversion service provider as the case may be. We do not determine whether a Card transaction will be converted into local currency by the merchant or ATM and you may have to check with the relevant merchant or ATM provider.
Note: It may also not always be clear that the merchant or its financial institution/payment processor is located or registered outside of Australia.
The International Transaction Fee for Retail Purchases is waived on the Coles Rewards Mastercard. Any Cash Advance transaction using your Coles Rewards Mastercard will continue to incur an International Transaction Fee.