Coles my5 flybuys: Is the news Coles and flybuys rewards scheme my 5 worth your time and money?

Nearly every household in the country now has a flybuys card and the promise of saving a couple of bucks when it comes to shopping at Coles. We have a look at whether Coles' latest move in the supermarket chess game for the nations stomachs and wallets is a smart play or a dud move.

Coles sent a silver envelope to eight million households across the country offering discounts across a range of their products and an invitation to join the revamped flybuys scheme in an attempt to win the stomachs and wallets of the country.

At the heart of this campaign is a 10% discount off five product groups of the customers choosing and new and improved flybuys rewards. Catchy branding at its finest, 'My5' at Coles lets customers direct discounts to the most expensive items in their shopping baskets. The campaign also marks a revamp for the flybuys scheme offering customers more bang for their buck. Under the new scheme when shoppers spend $50 they get 50 points worth 25c, an improvement on the previous system where $50 only got you 20 flybuys points worth 16c.

Coles Credit Cards Comparison

Rates last updated January 17th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Coles No Annual Fee Mastercard
19.99% p.a.
0% p.a. for 6 months
$0 p.a.
Enjoy 0% p.a. interest on balance transfers for the first 6 months and earn flybuys points for your spending for an ongoing $0 annual fee.
Coles Rewards Mastercard
19.99% p.a.
0% p.a. for 6 months
$99 p.a.
Save with 0% p.a. interest on balance transfers for the first 6 months and earn 2 flybuys points per $1 spent.
Coles Low Rate Mastercard
12.99% p.a.
0% p.a. for 6 months
$58 p.a.
Offers 0% p.a. interest on balance transfers for the first 6 months. Plus, earn flybuys points at Coles Supermarkets.

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flybuys my5 at Coles Review

The Rewards

How to earn flybuys points

For those who shop at Coles stores and flybuys partners including Liquorland, Kmart Target and AGL, when you spend a dollar, you earn a point. Customers who use the Telstra Pre-Paid phone service can earn three times the rate when they load up on credit and there's the potential to earn four points per dollar spent when you combine Coles car and home insurance with a 1st Choice Wine Drop membership.

For those who are using these services and shop frequently at flybuys bonus partners, there is a good opportunity to accelerate your earning. But for everybody else, switching provider could be difficult to justify unless there's some serious value on offer. And unfortunately for flybuys, even with an increase in the value of their rewards, unless you combine the offer with a Coles Mastercard, which doubles the rate of accrual at Coles stores, there's little value to be found here.

Rewards value with the Coles Mastercard

Using a Coles Mastercard will get you flybuys points twice as quickly. For all new applicants, you will earn two points for every dollar spent at Coles as well as earning points on your day to day spending, so you're not just restricted to Coles and flybuys participants.

Looking at the leaflet that was sent out with the cards, Coles put an average yearly spend on day-to-day expenses like groceries, liquor, electricity etc. at $14,040 for 14,040 flybuys points.

For every 2,000 flybuys points you earn, you're eligible for $10 off your next grocery bill.

Taking the standard rate of accrual minus spending at bonus partners represents a saving of just 0.5%.

But if you pay for it all with your Coles Mastercard in addition to taking out an insurance policy ($500p.a.) the number of points you earn jumps up to 52,100 which comes to $260 off your grocery bill in a year. When you do the math, a saving of $260 on a yearly spend of $4,540, only comes to about 1.8% of the total bill, which isn't much of a reward for a customer's loyalty across a variety of merchants but is consistent with other rewards schemes offering half a cent to a cent and a half return per dollar spent.

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The My5 Discount


To set up the My5 discount at Coles supermarkets, you have to register your card on the flybuys website. Registration is simple and only takes about ten minutes. You will be prompted to enter your personal information including things like address, email, telephone number etc. and if you are concerned about providing your personal information, not all the fields need to be completed, only the ones that are marked with an asterisk. Not all pages have to be completed either. The last page before picking your 5 product groups is a survey into your shopping habits and privacy aficionados will be pleased to know it can be skipped.

Pick your product groups

When it comes to getting your discount, you will have to nominate where you want the savings to go. You can choose between browsing the aisles yourself, or go with Coles-preselected staple product groups which are grouped mainly by type, brand and weight. Say you wanted to receive a discount on sausages you would select the sausage product group which has about 17 items.

You have the option of going for 10% off one item in the sausage group and a further 10% off four other product groups or you can purchase five items from the sausage product group with 10% off the five most expensive items. Confirm what you want to get, because once you make your selection you're locked in forever. It will take three days or so before the system has registered your request and then you're free to start shopping.

It sounds like a pretty decent deal, right? And to an extent it is. There's nothing sinister about rewarding customers' spending by shaving a little off the price but there are a few terms and conditions that customers should be aware of:

  1. The offer ends on the 31st of October 2012: Coles said they were thinking of extending the offer but it's anyone's guess as to whether it will actually continue.
  2. Expensive gift card and tobacco products don't qualify for the discounts.
  3. You must spend $50 in order to be eligible for the 10% discount: It's not hard to see what Coles are going for here. They're aiming for the customers that add a little extra into their trolley in order to qualify for the discount on their selected product groups.
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How to make the discounts work for you

To make the discounts work for you, it's important to stick to your regular spending habits and not to go overboard shopping with the mindset of reaping rewards. Some of the most expensive items in-store are not available for a discount and 10% off the standard supermarket items like bread, milk, pastas and meats etc. is basically a negligible saving in the long run.

For the desired results, it's better to buy expensive brand names covering things like vitamins, coffee and supplements. These are some of the most expensive product groups that are eligible for the 10% off and naturally when looking to save money you're going to go with the most expensive products first. But if you don't regularly buy these items there's little chance you will see more than a few dollars wiped off your weekly shopping docket.

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23 Responses

  1. Default Gravatar
    EricaApril 29, 2017

    How can I use my flybuys at Coles Supermarket? I am told that I need a number that I have to enter but I cannot find any information anywhere on your site to help me with this.

    • finder Customer Care
      JasonApril 30, 2017Staff

      Hi Erica,

      Thank you for your enquiry.

      Please note that we’re a financial comparison website and general information service and we do not represent flybuys.

      You can either exchange your flybuys points for flybuys Dollars or gift cards to be able to use them with partner retailers.

      To exchange your earned flybuys points for flybuys Dollars, please follow these steps:
      1. Sign in to your flybuys account
      2. From the main menu choose “Rewards”, then “Money off shop”, then select “flybuys Dollars” and “Get it Now”
      3. Complete the required information, and set up a 4-digit PIN
      4. Select how many points you want to exchange for flybuys Dollars
      5. Choose “Redeem now” and the flybuys Dollars you requested will be loaded onto your flybuys card

      In order to protect the flybuys Dollars that are loaded to your card, you would need to enter your 4-digit PIN to be able to use your flybuys Dollars at the partner retailers.

      I hope this help.

      Kind regards,

  2. Default Gravatar
    JoanMarch 1, 2015

    I have forgotten my password, how do I set up a new one please

    • finder Customer Care
      JonathanMarch 2, 2015Staff

      Hi Joan, thanks for your inquiry!

      Please refer to the link I have sent to your email for resetting your flybuys password.



  3. Default Gravatar
    francesFebruary 24, 2015

    I need a pass word it keep saying I have not got one

    • finder Customer Care
      JonathanFebruary 24, 2015Staff

      Hi Frances, thanks for your inquiry!

      Please refer to the link I have sent to you email, you will need your Member number and email address.



  4. Default Gravatar
    MariaOctober 23, 2014

    Not so much a question; But my name is Maria My flybuys card is registered But have forgotten password to login. How do I retrieve my password. Please let me know.

    • finder Customer Care
      ElizabethOctober 24, 2014Staff

      Hi Maria,

      Thanks for your question.

      You can go onto the flybuys website and enter your account number and click on ‘forgot password’ to reset your password.

      I hope this has helped.



  5. Default Gravatar
    gelavisJuly 30, 2014

    My card is not registered how do go about this

    • finder Customer Care
      ShirleyAugust 1, 2014Staff

      Hi Gelavis,

      You can register your card through this link.


  6. Default Gravatar
    TileApril 26, 2014

    Hi There!! Just want to know if my partner’s detail has included under my flybuy account since I contacted flybuy last yr to have this done?, but it doesn’t seem any information was added to my account ?
    Ca someone pls contacted me back on my email to let me know if this matter was sorted or not thank you

    • finder Customer Care
      ShirleyApril 30, 2014Staff

      Hi Tile,

      Thanks for your question. is an online comparison service, unfortunately we won’t be able to help you with this question. Please contact the customer service team at Flybuys and they should be able to help you.


  7. Default Gravatar
    BrigitteJanuary 4, 2014

    How do I claim 1000 points on a feedback voucher?

    • finder Customer Care
      JacobJanuary 6, 2014Staff

      Hi, Brigitte.

      Thanks for your question.

      If you’ve participated in the ‘Tell Coles’ program, and you’ve completed the survey to receive 1,000 bonus flybuys points, you will have to wait up to four weeks after the offer ends to redeem your points. Their website does not provide an offer end date.

      I hope this helps.

  8. Default Gravatar
    doreenOctober 25, 2013

    how do I convert my flybuys into dollars.

    • Default Gravatar
      MaureenJanuary 20, 2014

      How do I redeem my Flybuys points?

    • finder Customer Care
      ShirleyJanuary 20, 2014Staff

      Hi Maureen,

      Thanks for your comment.

      You can redeem your FlyBuys points online, I’ve emailed you their link.


    • finder Customer Care
      ShirleyOctober 25, 2013Staff

      Hi Doreen,

      Thanks for your comment.

      To convert your flybuys into cashback rewards, you can log into the flybuys website and redeem your points.

      Hope this helps,

  9. Default Gravatar
    AnnetteJuly 16, 2013

    How do we claim our rewards. We have had the card since its inception and am sure we have lost out on our rewards. Please let us know what to do. Ideally using for our shopping would be helpful.

    • finder Customer Care
      JacobJuly 16, 2013Staff

      Hi Annette. Thanks for your question. If you’ve been swiping your flybuys card when you shop at Coles, you can check how many points you’ve accumulated through the flybuys website. You will need to register your card for online management first. This is pretty simple and can be done online on the flybuys website too. You can convert your points to flybuys dollars, which can then be used at participating Coles Group stores. I hope this helps. Jacob.

  10. Default Gravatar
    HelenApril 8, 2013

    .I have misplaced one of my flybuys card
    Checking if it has been handed into your office? I last noticed missing on the 6th April when purchasing my groceries at Coles Supermarket Balgowlah N.S.W
    Do hope it has not been used in the meantime. Appreciate your response to my question. Many thanks

    • finder Customer Care
      JacobApril 8, 2013Staff

      Hi Helen. We’re not affiliated with flybuys. Can you please contact them directly over the phone to get them to cancel and reissue your card. They should be able to send it through the mail. Thanks for your question – hope it all works out. Jacob.

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