Coles Plus Saver: a great points booster, but does it beat Woolies?

$7 for a monthly 10% shopping discount and double Flybuys is a no-brainer for me. But maybe not for you.

These days a trip to the supermarket feels like an extravagant indulgence. Eggs? And milk? Slow down, Mr. Moneybags!

Coles, which has done very well for itself at this milk and eggs game, has finally cut me some slack. The supermarket is trialling a $7 monthly subscription called Coles Plus Saver.

It's a decent deal, but right now i's only available if you live in Victoria or Tasmania.

I feel like they should be clearer about that on the website.

It's a great deal for me, and better value than the standard $19 Coles Plus program. Now you, on the other hand, may find the Woolies Everyday Extra program is a better deal.

How Coles Plus Saver works

Coles Plus Saver is $7 a month. It gets you:

• 10% off one shop a month, up to a $50 off.
• An extra Flybuys Point per dollar spent (so double Flybuys).
• Members-only offers and promos.

Unlike the $19 a month Coles Plus, you don't get free delivery over $50, or free Rapid Delivery/Click&Collect.

As long as I spend at least $70 in one shop I'll recoup my membership costs. Sadly, with the cost of living the way it is, you can spend $70 just by thinking about the supermarket.

How this turns into a great points hack

I have a credit card that nets me 1 Velocity Point per dollar spent. And Flybuys Points convert to Velocity Points at a rate of 2 Flybuys to 1 Velocity Point.

With double Flybuys per dollar spent, I'm effectively earning 2 Velocity Points per dollar spent at Coles with my card and Coles Plus Saver.

If I spend $500 a month at Coles, that works out to 1,000 Velocity Points.

How does Woolies compare?

Woolies has long beat Coles at the membership rewards game. With Woolies Everyday Extra you pay $7 a month or a discounted $35 for the first year ($70 annually after that).

So it's cheaper. And you get:

• 10% off one shop at Woolies per month plus one shop at Big W. Up to $50 off each. That's more value than Coles.
• 2 times Everyday Rewards Points, which is effectively 3 points per dollar spent. These points convert to Qantas Points at a rate of 2:1, so this is a better points deal than Coles.
• 1,000 more Qantas Points (or $10 off a future shop) for every 2,000 Everyday Rewards Points.

Why I'm sticking with Coles Plus Saver

On paper Woolies still has the edge, but Coles Plus Saver works out better for me. I live within walking distance of a Coles, and I prefer to walk to the shops for exercise.

So I rarely shop at Woolies. I have a credit card that earns Velocity Points, and at Coles I can turn Flybuys into Velocity Points. I am locked into this points ecosystem, and for me it makes sense to focus on the one program.

You, on the other hand, may find the Woolies Everyday Rewards/Qantas Points world is better for you. Either way, make sure you maximise your shopping rewards with a points earning credit card.