Get 6 Cents Off Shell Fuel

[Falchoon]

Coles Myer has added a fuel discount to its credit card, offering six cents per litre discount on fuel purchased at Shell stations.

That's higher than the four cents per litre discount ordinary customers get if they spend $30 or more at Coles supermarkets, including the Bi-Lo and Liquorland chains.

"This card is a powerful example of how we have leveraged the strength of the Coles Myer Group to give our customers better value from their everyday shopping," Coles Myer chief executive John Fletcher said in a statement.

Independent research firm CANNEX welcomed the improvement, saying there was a good balance of financial and non-financial reasons to have the card.

"Smart credit card users can benefit from this card that offers a rewards program and doesn't require you to pay to be rewarded for your loyalty," CANNEX managing director Andrew Willink said.

"From what I see, this card covers both ends of rewards program spectrum; offering the traditional points-based program as well as relevant instant rewards."

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AdvertisementThe new feature comes as Coles Myer continues to search for ways to increase the loyalty of its customers.

"Certainly one of Coles' strategies has been to expand their loyalty programs," FW Holst analyst David Spry said.

"With fuel, it's a bit of a carrot they can dangle around.

"I think probably they will continue to look at strategies for increasing their profile in the market."

Mr Spry also said the source card was a way that Coles Myer was trying to gain an edge over its major rival Woolworths in their fuel war.

The Coles Myer source card was introduced in late 2003 as a way of boosting customer loyalty after the retailer's decision to phase out the popular shareholder discount card, which will finally end on July 31 this year.

Under the new fuel offer, source card customers will receive a voucher for a two cents per litre discount, on top of the four cents per litre from their docket.

The extra discount is limited to a maximum of four vouchers each month.

http://www.smh.com.au/news/Business/Fuel-w...7568365800.html

The catch to it is that the CM credit card is around 18.5% interest and if you look around you can get cc for around 8% less which would more than offset the $2 per tankfull you save with the CM card.

[Logsie]

I dont know which company but there is now one with no interest was on the new the other night only saw the shorts didnt see the artical

[jetute]

I dont know which company but there is now one with no interest was on the new the other night only saw the shorts didnt see the artical

whats the annual fee??? 15k

you dont get something for nothing... would be nice though

[crisso]

LINK

Without having read the terms and conditions, it looks like you get:

Welcome offer to save 8 cents a litre on petrol1

Regular savings of 6 cents a litre on petrol1

No annual fee

Up to 62 days interest free on purchases

0% interest on balance transfers for up to 6 months2

Earn double FlyBuys points

<edit>

ah huh, there is a catch

Catch

[ColinT]

From what I have been told of the terms and conditions it seems like a lot of trouble to save 2c per litre more.

2 cents you may ask????

Only the initial offer is 8c/lt. Then it goes to 6c/lt. They give you vouchers for +4c off to use in conjuntion with you shopper docket 4c/lt.

After the introductory period you get +2c/lt vouchers (max 4 per month) each time you get a statement. The number of vouchers depends on the amount of purchase you do on the card.

So if you qualify for 4x2c vouchers for the month and you fill the car 4 times at say 50 litres you save $1 per fill. You still have to have the shopper docket to use in conjunction.

So it seems like a lot of mucking around to gain the other +2c/lt.

[Flukey]

The higher interest more than makes up the cheaper petrol You don't get nuffin for nuffin you know.

[bugster70]

I don't wanna start no bun fight here, but are there really many people who actually pay interest on their credit cards?! We all know the interest rates they charge are nothing short of bloody extortionate, and I can't imagine too many people forking over that kind of unnecessary additional money to the banks? We put everything we can on our credit card (to try and get points, etc), but we make damn sure we pay it off in full each month to avoid those hefty interest charges!

Edited 20/06/05 04:15 AM by bugster70