Coles is offering 2,000 bonus Flybuys points when you buy an eligible $100 or $250 Coles Mastercard prepaid gift card in-store. The offer runs from Wednesday 11 November to Tuesday 17 November 2026, and the $100 cards can be a useful way to turn everyday spending into points for future travel.
The catch is a purchase fee: $5 on a $100 card and $7 on a $250 card. So is paying a fee to buy money worth it? For many people, yes, provided you can use the cards for spending you already planned.
Offer checked on 8 November 2026. Offers and stock can change, so check the current Coles catalogue and in-store promotion before buying. The offer is subject to Coles’ terms.
Quick takeaways
The offer is for $100 and $250 Coles Mastercard prepaid gift cards, in-store at Coles only.
You can earn the bonus on up to five cards per Flybuys account in total, not five of each denomination.
Both sizes earn the same 2,000 bonus points, so the $100 card is usually better value for points.
Five $100 cards cost $500 in card value plus $25 in fees. The points calculation is 10,525 Flybuys points, worth about $52.63 in Flybuys Dollars, or around 5,262 Velocity Points after conversion.
The maths works best when you spend the cards soon on things you would have bought anyway.
The offer details at a glance
You need to be a Flybuys member and scan your account when purchasing. There is no activation needed. The promotion is not advertised in the Flybuys app, so look for it in the Coles catalogue and in-store posters.
Standard points are expected to appear the next day, around 5 pm to 6 pm. The 2,000 bonus points can take a few more days to show. If you are making a time-sensitive transaction, leave room for that delay.
The cards generally work anywhere Mastercard is accepted. They are more reliable in-store than online, and can be used to pay the ATO by phone only. Online ATO payments have been blocked for about a year. At the terminal, choose Credit, then set any four-digit PIN the first time you use the card. This may change at any time so be sure you have back up plans on what to use the cards for if this method suddenly stops working.
The maths: what do the fees buy you?
The $100 card is the better points deal for most people because the bonus is identical, while its fee and required spend are lower.
This comparison uses the bonus points against the card value plus fee, rounded to a whole number. The $100 card gives you more bonus points for each dollar spent, which is why it is usually the one to look for first. It may also sell out faster.
Five $100 cards, step by step
Here is the maximum purchase under the offer:
Five cards x $100 = $500 in prepaid card value.
Five fees x $5 = $25, so the total paid at the checkout is $525.
The offer provides 10,000 bonus points across five cards. With the stated one base point per dollar on the $525 total outlay, that adds 525 base points, for 10,525 Flybuys points.
At the Flybuys Dollars rate of 100 points for $1 off a shop, 10,525 points are worth $52.63.
The usual conversion rate of 2 Flybuys points to 1 Velocity Point gives around 5,262 Velocity Points.
That means the $25 in fees is matched by $52.63 of shop-credit value, more than twice the fee. Put another way, it is about 210 Flybuys points per dollar of fee paid.
A $250 card earns 2,000 bonus points on $250 of card value, plus around 250 standard points. With its $7 fee, that is about 2,250 points on $257 of outlay. The bonus alone works out to about 8 points per dollar of total outlay, compared with about 20 for a $100 card. A larger card can still suit someone with bigger expenses, but the $100 card is stronger for this points calculation.
Why paying the fee can make sense
The Points Blueprint uses a simple decision rule: a fee is only worthwhile when the realistic value of the points you receive is higher than what you pay. It also uses a cents-per-point guide for assessing redemptions: under 1 cent per point is poor, 1 to 2 cents is standard, 2 to 4 cents is good e.g. redeeming international economy or premium economy flights through Velocity, and 4 cents or more is excellent e.g redeeming business or first class flights.
At the low-effort end, you can redeem Flybuys points as Flybuys Dollars. In this example, the points give you about $52.63 in shop credit against $25 in fees. That is already a positive comparison, as long as the credit is useful to you.
If you convert to Velocity instead, the roughly 5,262 Velocity Points could be worth around $105 to $210 or more at a redemption value of 2 to 4 cents per point. A well-priced business-class reward seat can sometimes deliver more value, though availability, taxes and fees vary. A points balance is not a guaranteed cash saving, so compare the reward seat with the cash fare and the out-of-pocket costs before booking.
The other part of the value is what we call dead spend: money you would spend anyway. If you can use a card for planned groceries, household purchases or an eligible ATO payment by phone, the fee may be a reasonable cost of redirecting that spend towards rewards. Our guide to earning Velocity Points with Flybuys explains how Flybuys can fit into a wider points strategy.
When it is not worth it
This is not a reason to spend extra or buy cards you cannot use. Skip the offer if:
You would need to change your shopping habits to use the balance.
You do not have suitable expenses coming up, or the $525 upfront for five $100 cards does not fit your budget.
You are likely to leave the cards unused. Prepaid cards do not earn interest, and an idle balance can be exposed to fraud risk.
Your only goal is maximum redemption value but you are not willing to compare Velocity reward availability and fees. Flybuys Dollars are simple and fixed at about one cent per dollar of shop credit, while Velocity value depends on the flight and booking costs.
Cards are prepaid, so treat them like cash. Use them soon and keep the receipts.
Buy and use the cards carefully
Before paying, ask for each card to be scanned, then check the packaging while you are still at the checkout. Look for signs that it has been opened, scratched or altered. If something seems wrong, do not buy that card.
Where practical, purchase each card in a separate transaction. If one looks tampered with, a separate payment makes it easier for the retailer to void that transaction without affecting the others. Keep every receipt and spend the balances promptly. Fraudsters can target inactive prepaid cards through automated card-number testing, sometimes called a BIN attack. That is another reason not to buy more than you can use soon.
Offer over or $100 cards sold out?
The offer window is short, and card stock can vary between stores. If you miss out, or you already have points and need help turning them into a flight, we can help you make a plan, find reward seats or monitor a route. Availability is controlled by the airline, so a search can help you look, but it cannot guarantee a seat.
Frequently asked questions
How many Coles Mastercard gift cards can I buy for the bonus?
You can receive the promotion on up to five eligible cards per Flybuys account in total during the offer. It is not five cards per day or five of each denomination.
Do Flybuys points expire?
Flybuys points do not expire while the account remains active, subject to the programme’s current terms. Check Flybuys’ latest rules if you are keeping points for a long time.
Can I pay the ATO with a Coles Mastercard gift card?
At the moment, the cards can be used to pay the ATO by phone only but this may change at any time. Online ATO payments have been blocked for about a year. Check the card’s current terms and the ATO payment options before relying on this method.
Which denomination is better value?
For most people, the $100 card is better for earning points because it gets the same 2,000 bonus as the $250 card for less spend and a lower fee. The $100 cards may sell out first.
When do the bonus points land?
Standard points usually appear the next day around 5 pm to 6 pm. The 2,000 bonus points often arrive a few days later. Allow extra time before making plans that depend on a points transfer.
What to do next
If this offer has you thinking about how everyday bills and spending can support future travel, start with The Points Blueprint. It explains the fee-versus-value and cents-per-point frameworks used here.
For help building a points plan around your own spending and travel goals, book a Strategy Session with our Points experts.
Already have points and a route in mind? Our Seat Search and Monitoring service starts from only $50 per person per leg. Reward availability is never guaranteed, but we can take the searching off your hands.
This article is general information only. Offers, card terms, points rates and availability can change. Verify current details in the Coles catalogue and with the relevant programme before making a purchase or transfer.
